BRT Apartments (NYSE:BRT) Upgraded at Zacks Research

Key Points

• Zacks Research upgraded BRT Apartments to a “hold” rating, adding to a mixed analyst backdrop that currently gives the stock a consensus Hold rating.
• The stock was down 1.9% and opened at $14.86; it remains below the consensus price target of $19.75 despite a 1-year range of $13.18 to $16.69.
• BRT Apartments recently reported quarterly earnings of ($0.14) per share, beating estimates, while revenue also came in slightly above expectations at $24.61 million.

BRT Apartments (NYSE:BRT - Get Free Report) was upgraded by stock analysts at Zacks Research to a "hold" rating in a report issued on Monday,Zacks.com reports.

BRT has been the topic of a number of other reports. Weiss Ratings raised shares of BRT Apartments from a "sell (d)" rating to a "sell (d+)" rating in a research report on Monday, July 6th. Wall Street Zen upgraded shares of BRT Apartments from a "sell" rating to a "hold" rating in a research report on Saturday, May 23rd. Finally, Citigroup reissued a "market outperform" rating on shares of BRT Apartments in a research note on Friday, May 29th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, BRT Apartments has a consensus rating of "Hold" and an average price target of $19.75.

BRT Apartments Stock Down 1.9%

NYSE:BRT opened at $14.86 on Monday. The business's fifty day moving average price is $14.73 and its 200 day moving average price is $14.54. The firm has a market capitalization of $279.59 million, a price-to-earnings ratio of -22.86 and a beta of 0.85. The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 3.00. BRT Apartments has a 1-year low of $13.18 and a 1-year high of $16.69.

BRT Apartments (NYSE:BRT - Get Free Report) last released its earnings results on Thursday, May 7th. The financial services provider reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.06. The company had revenue of $24.61 million for the quarter, compared to analysts' expectations of $24.28 million. BRT Apartments had a negative return on equity of 6.77% and a negative net margin of 12.59%. On average, sell-side analysts forecast that BRT Apartments will post 1.5 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Jane Street Group LLC acquired a new position in BRT Apartments in the 4th quarter valued at $895,000. Root Financial Partners LLC acquired a new position in BRT Apartments during the 4th quarter worth $763,000. Stifel Financial Corp increased its stake in shares of BRT Apartments by 26.4% in the fourth quarter. Stifel Financial Corp now owns 169,390 shares of the financial services provider's stock worth $2,490,000 after purchasing an additional 35,420 shares during the period. Permanens Capital L.P. increased its stake in shares of BRT Apartments by 21.4% in the third quarter. Permanens Capital L.P. now owns 201,263 shares of the financial services provider's stock worth $3,192,000 after purchasing an additional 35,415 shares during the period. Finally, Oppenheimer & Close LLC lifted its position in shares of BRT Apartments by 9.9% during the 4th quarter. Oppenheimer & Close LLC now owns 377,672 shares of the financial services provider's stock worth $5,552,000 after purchasing an additional 33,913 shares during the last quarter. Institutional investors and hedge funds 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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