BRT Realty Trust (BRT) Board Initiates Share Buyback Program
BRT Realty Trust (NYSE:BRT) announced that its Board of Directors has approved a share repurchase program, which authorizes the company to repurchase $5.00 million in outstanding shares on Tuesday, September 12th, EventVestor reports. This repurchase authorization authorizes the financial services provider to buy up to 3.6% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.
BRT Realty Trust (NYSE BRT) opened at 10.06 on Thursday. The stock has a market cap of $141.09 million, a P/E ratio of 12.75 and a beta of 0.16. The firm’s 50-day moving average price is $7.95 and its 200-day moving average price is $8.00. BRT Realty Trust has a 12 month low of $7.36 and a 12 month high of $10.35.
BRT Realty Trust (NYSE:BRT) last issued its quarterly earnings results on Tuesday, August 8th. The financial services provider reported ($0.24) earnings per share (EPS) for the quarter. The company had revenue of $26.86 million during the quarter. BRT Realty Trust had a net margin of 10.81% and a return on equity of 5.07%. On average, analysts predict that BRT Realty Trust will post ($0.63) earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 4th. Investors of record on Monday, September 25th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 7.16%. The ex-dividend date of this dividend is Friday, September 22nd.
Separately, TheStreet downgraded BRT Realty Trust from a “c” rating to a “d+” rating in a research note on Friday, August 25th.
BRT Realty Trust Company Profile
BRT Apartments Corp. is a real estate investment trust (REIT). The Trust is focused on the ownership, operation and development of multi-family properties. These activities are primarily conducted through joint ventures in which the Trust has an equity interest in the entity owning the property. The Trust’s segments include Multi-Family Real Estate and Other Assets.
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