BRT Apartments (NYSE:BRT) Share Price Passes Above Two Hundred Day Moving Average – Here’s Why

BRT Apartments Corp. (NYSE:BRT)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $14.52 and traded as high as $15.63. BRT Apartments shares last traded at $15.45, with a volume of 254,403 shares.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Wall Street Zen raised BRT Apartments from a “sell” rating to a “hold” rating in a report on Saturday, May 23rd. Weiss Ratings cut BRT Apartments from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, June 18th. Finally, Citigroup reiterated a “market outperform” rating on shares of BRT Apartments in a research report on Friday, May 29th. Three equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $19.75.

BRT Apartments Stock Performance

The stock’s 50-day moving average is $14.56 and its 200-day moving average is $14.52. The stock has a market cap of $290.77 million, a price-to-earnings ratio of -23.77 and a beta of 0.86. The company has a debt-to-equity ratio of 3.00, a current ratio of 2.14 and a quick ratio of 2.14.

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

BRT Apartments Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Stockholders of record on Thursday, June 25th will be given a $0.25 dividend. The ex-dividend date of this dividend is Thursday, June 25th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.5%. BRT Apartments’s payout ratio is currently -153.85%.

Hedge Funds Weigh In On BRT Apartments

Several large investors have recently added to or reduced their stakes in BRT. Public Employees Retirement System of Ohio boosted its stake in BRT Apartments by 227.8% in the 1st quarter. Public Employees Retirement System of Ohio now owns 12,362 shares of the financial services provider’s stock worth $165,000 after buying an additional 8,591 shares during the last quarter. Silverberg Bernstein Capital Management LLC increased its stake in shares of BRT Apartments by 14.9% during the 1st quarter. Silverberg Bernstein Capital Management LLC now owns 155,725 shares of the financial services provider’s stock valued at $2,077,000 after acquiring an additional 20,170 shares during the last quarter. Millennium Management LLC acquired a new position in shares of BRT Apartments during the 4th quarter valued at about $330,000. Russell Investments Group Ltd. lifted its holdings in shares of BRT Apartments by 107.1% during the 4th quarter. Russell Investments Group Ltd. now owns 3,626 shares of the financial services provider’s stock worth $53,000 after acquiring an additional 1,875 shares during the period. Finally, Marshall Wace LLP purchased a new position in shares of BRT Apartments during the 4th quarter worth about $304,000. 29.07% of the stock is currently owned by hedge funds and other institutional investors.

BRT Apartments Company Profile

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.