BRT Apartments Corp. (NYSE:BRT) Short Interest Update

Key Points

• Short interest jumped 33.5% in March to 250,200 shares (about 2.3% of the float) with a short-interest ratio of 2.9 days, indicating increased bearish sentiment.
• BRT missed quarterly EPS, reporting ($0.23) versus $0.36 expected and showing negative ROE and net margin, yet it pays a $0.25 quarterly dividend (annualized yield ~6.9%) with a negative payout ratio of -158.73%.
• Analysts have a consensus rating of Hold with a $19.75 target (two Buys, one Sell); the stock recently traded around $14.42 and has a market cap of about $274 million.

BRT Apartments Corp. (NYSE:BRT - Get Free Report) was the recipient of a large increase in short interest during the month of March. As of March 31st, there was short interest totaling 250,200 shares, an increase of 33.5% from the March 15th total of 187,415 shares. Based on an average daily volume of 85,494 shares, the short-interest ratio is presently 2.9 days. Currently, 2.3% of the company's stock are sold short.

Analysts Set New Price Targets

Several research analysts recently weighed in on BRT shares. Wall Street Zen upgraded BRT Apartments from a "strong sell" rating to a "sell" rating in a research note 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 equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, BRT Apartments presently has a consensus rating of "Hold" and a consensus target price of $19.75.

BRT Apartments Stock Performance

BRT stock traded up $0.21 during midday trading on Friday, reaching $14.42. The stock had a trading volume of 22,431 shares, compared to its average volume of 48,863. The stock has a market cap of $273.71 million, a PE ratio of -22.89 and a beta of 0.91. The company has a debt-to-equity ratio of 2.87, a quick ratio of 1.86 and a current ratio of 1.86. The firm has a fifty day simple moving average of $14.27 and a two-hundred day simple moving average of $14.61. BRT Apartments has a 52-week low of $13.18 and a 52-week high of $16.69.

BRT Apartments (NYSE:BRT - Get Free Report) last issued its earnings results on Thursday, March 12th. The financial services provider reported ($0.23) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.36 by ($0.59). The firm had revenue of $24.29 million during the quarter, compared to analysts' expectations of $24.41 million. BRT Apartments had a negative return on equity of 6.33% and a negative net margin of 12.31%. As a group, equities research analysts anticipate that BRT Apartments will post 1.42 EPS for the current year.

BRT Apartments Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 6th. Investors 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 6.9%. BRT Apartments's dividend payout ratio (DPR) is -158.73%.

Hedge Funds Weigh In On BRT Apartments

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BRT. Public Employees Retirement System of Ohio purchased a new stake in BRT Apartments in the fourth quarter valued at $55,000. BNP Paribas Financial Markets boosted its holdings in BRT Apartments by 240.4% in the third quarter. BNP Paribas Financial Markets now owns 10,685 shares of the financial services provider's stock valued at $167,000 after purchasing an additional 7,546 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in BRT Apartments by 40.9% in the fourth quarter. Wells Fargo & Company MN now owns 13,050 shares of the financial services provider's stock valued at $192,000 after purchasing an additional 3,785 shares during the last quarter. Wedbush Securities Inc. purchased a new stake in BRT Apartments in the fourth quarter valued at $289,000. Finally, Marshall Wace LLP purchased a new stake in BRT Apartments in the fourth quarter valued at $304,000. Hedge funds and other institutional investors own 29.07% of the company's stock.

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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