BRT Apartments (NYSE:BRT) Director Alan Ginsburg Sells 50,129 Shares of Company Stock

BRT Apartments Corp. (NYSE:BRT) Director Alan Ginsburg sold 50,129 shares of BRT Apartments stock in a transaction dated Friday, October 16th. The stock was sold at an average price of $13.43, for a total transaction of $673,232.47. Following the sale, the director owned 24,800 shares of the company’s stock, valued at approximately $333,064. This trade represents a 66.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

BRT Apartments Trading Up 2.0%

Shares of NYSE:BRT traded up $0.27 during trading on Tuesday, reaching $13.36. The stock had a trading volume of 70,014 shares, compared to its average volume of 45,399. The business has a fifty day moving average price of $14.03 and a 200-day moving average price of $14.40. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 3.16. The stock has a market cap of $250.94 million, a P/E ratio of -19.08 and a beta of 0.86. BRT Apartments Corp. has a fifty-two week low of $13.09 and a fifty-two week high of $15.63.

BRT Apartments (NYSE:BRT) last announced its earnings results on Monday, August 10th. The financial services provider reported ($0.19) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.01. BRT Apartments had a negative net margin of 13.22% and a negative return on equity of 7.46%. The firm had revenue of $24.47 million for the quarter, compared to analyst estimates of $24.36 million. As a group, analysts anticipate that BRT Apartments Corp. will post 1.46 earnings per share for the current fiscal year.

BRT Apartments Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 6th. Shareholders of record on Monday, September 28th were issued a $0.25 dividend. The ex-dividend date was Monday, September 28th. This represents a $1.00 annualized dividend and a yield of 7.5%. BRT Apartments’s payout ratio is -142.86%.

Wall Street Analyst Weigh In

BRT has been the topic of several analyst reports. Weiss Ratings cut BRT Apartments from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, October 8th. Citizens Jmp reiterated a “market outperform” rating and issued a $20.00 target price on shares of BRT Apartments in a research note on Thursday, August 20th. Zacks Research upgraded BRT Apartments to a “hold” rating in a research note on Monday, July 13th. Finally, Citigroup reiterated a “market outperform” rating on shares of BRT Apartments in a research report on Thursday, August 20th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $20.00.

Institutional Investors Weigh In On BRT Apartments

Several hedge funds have recently modified their holdings of BRT. Odyssean LLC purchased a new stake in BRT Apartments in the second quarter valued at approximately $207,000. Public Employees Retirement System of Ohio purchased a new position in BRT Apartments during the second quarter worth approximately $172,000. Bank of America Corp DE purchased a new position in BRT Apartments during the second quarter worth approximately $182,000. Capital Square LLC purchased a new position in BRT Apartments during the second quarter worth approximately $309,000. Finally, BlackRock Inc. acquired a new position in shares of BRT Apartments in the 2nd quarter valued at $16,311,000. 29.07% of the stock is owned by institutional investors and hedge funds.

BRT Apartments Company Profile

BRT Apartments Corp. is a real estate investment trust (REIT) focused on the ownership and operation of multifamily apartment communities. Through its property portfolio and joint-venture investments, the company provides residential rental housing to individuals and families.

The company’s activities include acquiring, developing, repositioning, renovating and managing apartment properties. Its communities generally operate under the BRT Apartments name or other property-specific brands and offer conventional rental housing with amenities and services intended to support residents.

BRT primarily targets markets in the Sun Belt and other growing regions of the United States, with a focus on multifamily properties in the Southeast and Southwest.