BRT Apartments (NYSE:BRT) Issues Earnings Results

BRT Apartments (NYSE:BRT) issued its earnings results on Thursday. The financial services provider reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.02), FiscalAI reports. The company had revenue of $24.73 million during the quarter, compared to analysts’ expectations of $24.61 million. BRT Apartments had a negative net margin of 13.22% and a negative return on equity of 7.46%.

BRT Apartments Price Performance

BRT traded down $0.12 during midday trading on Friday, reaching $12.63. 53,500 shares of the company’s stock were exchanged, compared to its average volume of 56,594. The company has a debt-to-equity ratio of 3.16, a current ratio of 1.75 and a quick ratio of 1.75. The stock has a market capitalization of $237.41 million, a PE ratio of -15.99 and a beta of 0.87. The business’s 50-day moving average price is $13.61 and its 200 day moving average price is $14.32. BRT Apartments has a 1-year low of $12.51 and a 1-year high of $15.63.

BRT Apartments Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 6th. Shareholders of record on Monday, September 28th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 7.9%. The ex-dividend date was Monday, September 28th. BRT Apartments’s dividend payout ratio (DPR) is -142.86%.

Insider Activity

In other news, Director Alan Ginsburg sold 50,129 shares of the stock in a transaction that occurred on Friday, October 16th. The shares were sold at an average price of $13.43, for a total value of $673,232.47. Following the sale, the director directly owned 24,800 shares in the company, valued at $333,064. This represents a 66.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 42.20% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on BRT. Weiss Ratings cut BRT Apartments from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, October 8th. Citigroup reaffirmed a “market outperform” rating on shares of BRT Apartments in a research note on Thursday, August 20th. Citizens Jmp reaffirmed a “market outperform” rating and set a $20.00 price objective on shares of BRT Apartments in a report on Thursday, August 20th. Finally, Zacks Research upgraded BRT Apartments to a “hold” rating in a research report on Monday, July 13th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $20.00.

BRT Apartments Company Profile

BRT Apartments Corp. is a real estate investment trust (REIT) that owns, operates and invests in multifamily apartment communities. The company’s portfolio is focused primarily on garden-style and other conventional residential properties, generating rental income from apartments and related services.

BRT typically invests through direct ownership and joint ventures, and its properties are concentrated largely in the Southeastern United States, with additional exposure to selected markets in other regions.