BRT Apartments (NYSE:BRT) Posts Earnings Results, Beats Estimates By $0.06 EPS

Key Points

• BRT Apartments beat earnings expectations for the quarter, posting EPS of ($0.14) versus the consensus estimate of ($0.20). Revenue also came in slightly ahead of forecasts at $24.61 million.
• The stock slipped 0.7% on Friday to $14.67, even after the earnings release. It has traded between $13.18 and $16.69 over the past 12 months.
• BRT Apartments continues to offer a high dividend yield, recently paying a quarterly dividend of $0.25 per share, equal to a 6.8% annualized yield. However, the payout ratio remains negative, reflecting current losses.

BRT Apartments (NYSE:BRT - Get Free Report) posted its earnings results on Thursday. The financial services provider reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.06, FiscalAI reports. BRT Apartments had a negative net margin of 12.31% and a negative return on equity of 6.33%. The company had revenue of $24.61 million during the quarter, compared to the consensus estimate of $24.28 million.

BRT Apartments Stock Down 0.7%

Shares of BRT stock traded down $0.11 on Friday, hitting $14.67. The stock had a trading volume of 17,294 shares, compared to its average volume of 33,166. The business has a 50 day moving average of $14.19 and a 200 day moving average of $14.52. The stock has a market cap of $276.12 million, a price-to-earnings ratio of -23.29 and a beta of 0.87. 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 has a 12-month low of $13.18 and a 12-month high of $16.69.

BRT Apartments Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 6th. Stockholders 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 annualized dividend and a dividend yield of 6.8%. BRT Apartments's dividend payout ratio is presently -158.73%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on BRT. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of BRT Apartments in a research report on Wednesday, January 21st. Wall Street Zen raised BRT Apartments from a "strong sell" rating to a "sell" rating in a report on Saturday, April 11th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, BRT Apartments has an average rating of "Hold" and an average price target of $19.75.

Institutional Investors Weigh In On BRT Apartments

A number of institutional investors have recently added to or reduced their stakes in BRT. Russell Investments Group Ltd. increased its stake in BRT Apartments by 725.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,751 shares of the financial services provider's stock valued at $27,000 after buying an additional 1,539 shares during the last quarter. Osaic Holdings Inc. boosted its stake in shares of BRT Apartments by 111.8% in the 2nd quarter. Osaic Holdings Inc. now owns 1,809 shares of the financial services provider's stock worth $28,000 after buying an additional 955 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its stake in shares of BRT Apartments by 1,171.8% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 2,073 shares of the financial services provider's stock worth $30,000 after buying an additional 1,910 shares during the last quarter. Strs Ohio bought a new position in shares of BRT Apartments in the first quarter valued at approximately $39,000. Finally, BNP Paribas Financial Markets grew its holdings in shares of BRT Apartments by 388.9% in the second quarter. BNP Paribas Financial Markets now owns 3,139 shares of the financial services provider's stock valued at $49,000 after acquiring an additional 2,497 shares in the last quarter. 29.07% of the stock is owned by institutional investors.

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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