BRT Apartments Corp. (NYSE:BRT) Short Interest Down 22.1% in April

Key Points

• Short interest fell 22.1% in April to 195,019 shares (about 1.8% of the float), leaving a short-interest ratio of roughly 2.2 days as of April 15.
• BRT reported a March-quarter EPS of −$0.23, missing the $0.36 consensus, with revenue slightly under estimates and negative return on equity and net margin.
• The company paid a $0.25 quarterly dividend (annualized $1.00) for a 6.8% yield, but its payout ratio is −158.73%, indicating dividends exceed current earnings.

BRT Apartments Corp. (NYSE:BRT - Get Free Report) was the target of a large decline in short interest during the month of April. As of April 15th, there was short interest totaling 195,019 shares, a decline of 22.1% from the March 31st total of 250,200 shares. Approximately 1.8% of the company's stock are sold short. Based on an average daily volume of 86,968 shares, the short-interest ratio is currently 2.2 days.

Analysts Set New Price Targets

A number of brokerages have issued reports on BRT. Wall Street Zen raised BRT Apartments from a "strong sell" rating to a "sell" rating in a report on Saturday, April 11th. Weiss Ratings restated a "sell (d+)" rating on shares of BRT Apartments in a research note on Wednesday, January 21st. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $19.75.

Hedge Funds Weigh In On BRT Apartments

A number of institutional investors have recently modified their holdings of the business. Jane Street Group LLC purchased a new stake in BRT Apartments in the 4th quarter valued at $895,000. Root Financial Partners LLC purchased a new position in BRT Apartments during the 4th quarter worth $763,000. Stifel Financial Corp increased its stake in BRT Apartments by 26.4% in the fourth quarter. Stifel Financial Corp now owns 169,390 shares of the financial services provider's stock valued at $2,490,000 after purchasing an additional 35,420 shares during the period. Permanens Capital L.P. raised its holdings in shares of BRT Apartments by 21.4% in the third quarter. Permanens Capital L.P. now owns 201,263 shares of the financial services provider's stock valued at $3,192,000 after buying an additional 35,415 shares during the last quarter. Finally, Oppenheimer & Close LLC raised its holdings in shares of BRT Apartments by 9.9% in the fourth quarter. Oppenheimer & Close LLC now owns 377,672 shares of the financial services provider's stock valued at $5,552,000 after buying an additional 33,913 shares during the last quarter. 29.07% of the stock is owned by institutional investors and hedge funds.

BRT Apartments Stock Performance

NYSE BRT opened at $14.66 on Wednesday. The company has a fifty day moving average of $14.21 and a two-hundred day moving average of $14.54. The company has a market capitalization of $278.17 million, a PE ratio of -23.27 and a beta of 0.91. BRT Apartments has a 1 year low of $13.18 and a 1 year high of $16.69. The company has a debt-to-equity ratio of 2.87, a current ratio of 1.86 and a quick ratio of 1.86.

BRT Apartments (NYSE:BRT - Get Free Report) last posted its earnings results on Thursday, March 12th. The financial services provider reported ($0.23) EPS for the quarter, missing analysts' consensus estimates of $0.36 by ($0.59). The firm had revenue of $24.29 million for the quarter, compared to analyst estimates of $24.41 million. BRT Apartments had a negative return on equity of 6.33% and a negative net margin of 12.31%.

BRT Apartments Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 6th. Shareholders of record on Friday, March 27th were paid a $0.25 dividend. The ex-dividend date was Friday, March 27th. This represents a $1.00 dividend on an annualized basis and a yield of 6.8%. BRT Apartments's payout ratio is currently -158.73%.

About BRT Apartments

BRT Apartments Corp. is an equity real estate investment trust (REIT) that acquires, owns and operates multi-family residential properties. The company targets mid-market apartment communities and seeks value-add opportunities through renovations, operational efficiencies and active asset management. Its investment strategy is focused on generating stable, long-term rental income and potential capital appreciation from its portfolio of rental properties.

Established in 2013, BRT Apartments Corp.

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