BRT Apartments Corp. (NYSE:BRT) Declares $0.25 Quarterly Dividend

BRT Apartments Corp. (NYSE:BRT) announced a quarterly dividend on Wednesday, June 10th. Stockholders of record on Thursday, June 25th will be given a dividend of 0.25 per share by the financial services provider on Thursday, July 9th. This represents a c) annualized dividend and a dividend yield of 6.7%. The ex-dividend date is Thursday, June 25th.

BRT Apartments has raised its dividend payment by an average of 0.0%per year over the last three years. BRT Apartments has a dividend payout ratio of -181.8% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

BRT Apartments Trading Up 1.6%

NYSE BRT opened at $15.01 on Thursday. The company has a market cap of $282.49 million, a PE ratio of -23.09 and a beta of 0.86. The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 3.00. BRT Apartments has a 12 month low of $13.18 and a 12 month high of $16.69. The stock has a 50 day moving average of $14.32 and a 200-day moving average of $14.49.

BRT Apartments (NYSE:BRT) last released its quarterly earnings data on Thursday, May 7th. The financial services provider reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.20) by $0.06. The company had revenue of $24.61 million during the quarter, compared to the consensus estimate of $24.28 million. BRT Apartments had a negative return on equity of 6.77% and a negative net margin of 12.59%.

Institutional Investors Weigh In On BRT Apartments

A number of large investors have recently added to or reduced their stakes in the business. Oppenheimer & Close LLC raised its stake in BRT Apartments by 9.9% in the 4th quarter. Oppenheimer & Close LLC now owns 377,672 shares of the financial services provider’s stock valued at $5,552,000 after acquiring an additional 33,913 shares during the period. Geode Capital Management LLC raised its stake in BRT Apartments by 0.6% in the 2nd quarter. Geode Capital Management LLC now owns 289,073 shares of the financial services provider’s stock valued at $4,522,000 after acquiring an additional 1,837 shares during the period. State Street Corp increased its position in BRT Apartments by 3.3% during the 4th quarter. State Street Corp now owns 256,769 shares of the financial services provider’s stock worth $3,837,000 after buying an additional 8,226 shares during the period. Permanens Capital L.P. increased its position in BRT Apartments by 21.4% during the 3rd quarter. Permanens Capital L.P. now owns 201,263 shares of the financial services provider’s stock worth $3,192,000 after buying an additional 35,415 shares during the period. Finally, Stifel Financial Corp increased its position in BRT Apartments by 26.4% during the 4th quarter. Stifel Financial Corp now owns 169,390 shares of the financial services provider’s stock worth $2,490,000 after buying an additional 35,420 shares during the period. Institutional investors own 29.07% of the company’s stock.

About BRT Apartments

BRT Apartments Corp. is an equity real estate investment trust (REIT) that acquires, owns and operates multi-family residential properties. The company targets mid-market apartment communities and seeks value-add opportunities through renovations, operational efficiencies and active asset management. Its investment strategy is focused on generating stable, long-term rental income and potential capital appreciation from its portfolio of rental properties.

Established in 2013, BRT Apartments Corp.