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

BRT Apartments Corp. (NYSE:BRT - Get Free Report) declared a quarterly dividend on Wednesday, June 4th, RTT News reports. Investors of record on Wednesday, June 25th will be given a dividend of 0.25 per share by the financial services provider on Wednesday, July 9th. This represents a $1.00 annualized dividend and a yield of 6.31%. The ex-dividend date is Wednesday, June 25th.

BRT Apartments has raised its dividend payment by an average of 3.6% annually over the last three years. BRT Apartments has a 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 Stock Down 1.6%

BRT stock traded down $0.26 during trading on Friday, hitting $15.86. 7,088 shares of the company's stock were exchanged, compared to its average volume of 33,474. The stock has a market capitalization of $300.23 million, a price-to-earnings ratio of -29.91 and a beta of 1.03. BRT Apartments has a 52-week low of $14.61 and a 52-week high of $20.22. The company has a current ratio of 1.94, a quick ratio of 1.94 and a debt-to-equity ratio of 2.31. The business has a 50-day moving average price of $15.65 and a two-hundred day moving average price of $17.22.

Insider Buying and Selling

In other BRT Apartments news, CFO George Zweier sold 2,143 shares of the business's stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $18.06, for a total transaction of $38,702.58. Following the transaction, the chief financial officer now owns 120,797 shares in the company, valued at approximately $2,181,593.82. The trade was a 1.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Investors L. P. Gould bought 4,360 shares of the business's stock in a transaction dated Tuesday, May 27th. The shares were acquired at an average cost of $15.58 per share, with a total value of $67,928.80. Following the completion of the purchase, the insider now owns 3,955,544 shares in the company, valued at approximately $61,627,375.52. This represents a 0.11% increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 29,479 shares of company stock valued at $457,517 over the last three months. 42.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On BRT Apartments

A hedge fund recently raised its stake in BRT Apartments stock. Goldman Sachs Group Inc. increased its holdings in BRT Apartments Corp. (NYSE:BRT - Free Report) by 15.6% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,266 shares of the financial services provider's stock after buying an additional 5,035 shares during the period. Goldman Sachs Group Inc. owned about 0.20% of BRT Apartments worth $634,000 as of its most recent SEC filing. 29.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. B. Riley reduced their price objective on BRT Apartments from $22.00 to $21.00 and set a "buy" rating for the company in a research note on Thursday, March 27th. Colliers Securities lowered shares of BRT Apartments from a "buy" rating to a "neutral" rating in a research note on Thursday, March 13th. Finally, Wall Street Zen cut BRT Apartments from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd.

BRT Apartments Company Profile

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.