BRT Apartments (NYSE:BRT) Releases Earnings Results, Beats Expectations By $0.56 EPS

Key Points

• BRT Apartments reported quarterly EPS of $0.36, exceeding analysts’ consensus estimate of a $0.20 loss by $0.56. However, the company posted a negative 6.77% return on equity and a negative 12.59% net margin.
• Shares fell 1.9% to $14.14, below the average analyst price target of $19.75. Analysts’ overall rating remains “Hold,” with three Buy, one Hold, and one Sell recommendation.
• The company paid a quarterly dividend of $0.25 per share, equivalent to a $1.00 annualized payout and a 7.1% yield; institutional investors own approximately 29.07% of the stock.

BRT Apartments (NYSE:BRT - Get Free Report) released its earnings results on Monday. The financial services provider reported $0.36 earnings per share for the quarter, beating analysts' consensus estimates of ($0.20) by $0.56, Zacks reports. BRT Apartments had a negative return on equity of 6.77% and a negative net margin of 12.59%.

BRT Apartments Trading Down 1.9%

Shares of NYSE:BRT traded down $0.27 during midday trading on Monday, hitting $14.14. 27,493 shares of the stock were exchanged, compared to its average volume of 42,464. BRT Apartments has a 12 month low of $13.18 and a 12 month high of $16.69. The company has a debt-to-equity ratio of 3.00, a quick ratio of 2.14 and a current ratio of 2.14. The stock has a market capitalization of $266.04 million, a price-to-earnings ratio of -21.75 and a beta of 0.85. The business's 50-day moving average price is $14.86 and its 200 day moving average price is $14.55.

BRT Apartments Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 9th. Stockholders of record on Thursday, June 25th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 7.1%. The ex-dividend date of this dividend was Thursday, June 25th. BRT Apartments's dividend payout ratio (DPR) is presently -153.85%.

Analysts Set New Price Targets

A number of research firms recently commented on BRT. Zacks Research raised BRT Apartments to a "hold" rating in a research note on Monday, July 13th. Citigroup reissued a "market outperform" rating on shares of BRT Apartments in a report on Friday, May 29th. Wall Street Zen raised shares of BRT Apartments from a "sell" rating to a "hold" rating in a report on Saturday, May 23rd. Finally, Weiss Ratings upgraded shares of BRT Apartments from a "sell (d)" rating to a "sell (d+)" rating in a research report on Monday, July 6th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $19.75.

Institutional Investors Weigh In On BRT Apartments

Several institutional investors and hedge funds have recently made changes to their positions in BRT. Public Employees Retirement System of Ohio acquired a new position in shares of BRT Apartments in the fourth quarter worth approximately $55,000. Russell Investments Group Ltd. raised its holdings in BRT Apartments by 107.1% during the 4th quarter. Russell Investments Group Ltd. now owns 3,626 shares of the financial services provider's stock worth $53,000 after purchasing an additional 1,875 shares during the last quarter. Marshall Wace LLP acquired a new position in shares of BRT Apartments in the 4th quarter worth approximately $304,000. Wells Fargo & Company MN lifted its position in shares of BRT Apartments by 40.9% in the 4th quarter. Wells Fargo & Company MN now owns 13,050 shares of the financial services provider's stock worth $192,000 after purchasing an additional 3,785 shares during the period. Finally, Wedbush Securities Inc. bought a new stake in shares of BRT Apartments in the 4th quarter valued at $289,000. Institutional investors and hedge funds own 29.07% of the company's stock.

BRT Apartments Company Profile

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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