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

BRT Apartments Corp. (NYSE:BRT - Get Free Report) declared a quarterly dividend on Wednesday, June 4th, RTT News reports. Stockholders 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 dividend yield of 6.19%. The ex-dividend date is Wednesday, June 25th.

BRT Apartments has a dividend 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. Research 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 0.2%

Shares of BRT Apartments stock traded up $0.04 on Friday, hitting $16.16. 17,616 shares of the company's stock traded hands, compared to its average volume of 33,659. The stock has a market cap of $305.91 million, a P/E ratio of -30.49 and a beta of 1.03. The company has a quick ratio of 1.94, a current ratio of 1.94 and a debt-to-equity ratio of 2.31. The firm's 50-day moving average is $15.64 and its 200 day moving average is $17.16. BRT Apartments has a 52-week low of $14.61 and a 52-week high of $20.22.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on BRT. B. Riley reduced their price objective on BRT Apartments from $22.00 to $21.00 and set a "buy" rating on the stock in a research note on Thursday, March 27th. Wall Street Zen cut BRT Apartments from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Finally, Colliers Securities cut BRT Apartments from a "buy" rating to a "neutral" rating in a research note on Thursday, March 13th.

Insider Buying and Selling

In related news, CFO George Zweier sold 2,143 shares of the firm's stock in a transaction 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 directly owns 120,797 shares in the company, valued at $2,181,593.82. This trade represents a 1.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Investors L. P. Gould bought 10,119 shares of the company's stock in a transaction on Monday, May 12th. The stock was bought at an average cost of $15.45 per share, for a total transaction of $156,338.55. Following the completion of the transaction, the insider now directly owns 3,914,065 shares of the company's stock, valued at $60,472,304.25. This trade represents a 0.26% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 29,479 shares of company stock worth $457,517 over the last ninety days. 42.00% of the stock is owned by insiders.

Institutional Investors Weigh In On BRT Apartments

A hedge fund recently bought a new stake in BRT Apartments stock. Strs Ohio bought a new position in BRT Apartments Corp. (NYSE:BRT - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 2,300 shares of the financial services provider's stock, valued at approximately $39,000. Hedge funds and other 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.