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

Key Points

• BRT Apartments Corp. has declared a quarterly dividend of $0.25, which translates to an annual yield of 6.1% based on the current stock price.
• The company's payout ratio stands at -181.8%, indicating it is currently unable to cover its dividend with earnings alone, relying on its balance sheet for payments.
• Recent insider transactions included purchases by major shareholders, suggesting confidence in the company's future, with insiders owning 42.00% of the company's stock.

BRT Apartments Corp. (NYSE:BRT - Get Free Report) announced a quarterly dividend on Thursday, September 11th, RTT News reports. Shareholders of record on Wednesday, September 24th will be paid a dividend of 0.25 per share by the financial services provider on Monday, October 6th. This represents a c) dividend on an annualized basis and a yield of 6.1%.

BRT Apartments has a 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. Analysts expect BRT Apartments to earn $1.45 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 69.0%.

BRT Apartments Stock Up 1.9%

BRT stock traded up $0.31 during trading on Thursday, reaching $16.45. The stock had a trading volume of 27,939 shares, compared to its average volume of 30,668. BRT Apartments has a one year low of $14.17 and a one year high of $20.22. The company's 50 day moving average is $15.49 and its two-hundred day moving average is $16.02. The company has a market capitalization of $311.30 million, a price-to-earnings ratio of -33.56 and a beta of 0.94. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 2.51.

Insider Buying and Selling at BRT Apartments

In related news, major shareholder Investors L. P. Gould acquired 1,742 shares of the stock in a transaction dated Monday, June 16th. The shares were purchased at an average price of $15.80 per share, for a total transaction of $27,523.60. Following the transaction, the insider owned 3,980,912 shares in the company, valued at $62,898,409.60. This represents a 0.04% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Jeffrey Gould acquired 3,468 shares of the stock in a transaction dated Tuesday, August 12th. The shares were bought at an average price of $14.96 per share, for a total transaction of $51,881.28. Following the transaction, the chief executive officer owned 4,040,400 shares in the company, valued at approximately $60,444,384. This represents a 0.09% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 9,788 shares of company stock worth $147,881. Corporate insiders own 42.00% of the company's stock.

Hedge Funds Weigh In On BRT Apartments

Several institutional investors and hedge funds have recently made changes to their positions in BRT. Advisor Resource Council bought a new stake in BRT Apartments in the 1st quarter worth $994,000. Nuveen LLC bought a new stake in BRT Apartments in the 1st quarter worth $673,000. Permanens Capital L.P. bought a new stake in shares of BRT Apartments during the 1st quarter valued at about $402,000. Silverberg Bernstein Capital Management LLC boosted its stake in shares of BRT Apartments by 25.1% during the 2nd quarter. Silverberg Bernstein Capital Management LLC now owns 98,813 shares of the financial services provider's stock valued at $1,545,000 after purchasing an additional 19,828 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of BRT Apartments by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 1,130,907 shares of the financial services provider's stock valued at $19,225,000 after purchasing an additional 17,850 shares in the last quarter. Institutional investors own 29.07% of the company's stock.

About BRT Apartments

BRT Apartments Corp. is a real estate investment trust. It engages in the ownership, operation, and holding interests in joint ventures that own and operate multi-family properties. The company was founded in June 1972 and is headquartered in Great Neck, NY.

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