BRT Apartments Corp. (NYSE:BRT) Plans 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) annualized dividend and a dividend yield of 6.1%. The ex-dividend date is Wednesday, September 24th.

BRT Apartments has a dividend payout ratio of -181.8% meaning 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 Price Performance

Shares of NYSE BRT traded up $0.09 on Tuesday, hitting $16.31. The company's stock had a trading volume of 19,790 shares, compared to its average volume of 23,954. BRT Apartments has a 12-month low of $14.17 and a 12-month high of $20.22. The company has a market capitalization of $308.75 million, a price-to-earnings ratio of -33.29 and a beta of 0.94. The company has a debt-to-equity ratio of 2.51, a current ratio of 1.75 and a quick ratio of 1.75. The stock has a 50 day moving average of $15.51 and a 200-day moving average of $15.97.

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded shares of BRT Apartments from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $21.00.

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.