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

Key Points

• BRT Apartments declared a quarterly dividend of $0.25 per share, payable October 6 to shareholders of record on September 28. The dividend implies a 7.2% annualized yield.
• The dividend is not currently covered by earnings, with a payout ratio of -181.8%; however, analysts expect next year’s earnings of $1.54 per share to support the $1.00 annual dividend.
• BRT reported a quarterly loss of $0.19 per share, narrowly beating estimates, while revenue of $24.47 million exceeded expectations. Shares opened at $13.83, near the lower end of their 12-month range.

BRT Apartments Corp. (NYSE:BRT - Get Free Report) declared a quarterly dividend on Thursday, September 17th. Investors of record on Monday, September 28th will be given a dividend of 0.25 per share by the financial services provider on Tuesday, October 6th. This represents a c) dividend on an annualized basis and a yield of 7.2%. The ex-dividend date of this dividend is Monday, September 28th.

BRT Apartments has increased its dividend by an average of 0.0%per year over the last three years. BRT Apartments has a 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. Equities analysts expect BRT Apartments to earn $1.54 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 64.9%.

BRT Apartments Stock Performance

NYSE BRT opened at $13.83 on Friday. The stock has a market capitalization of $259.98 million, a price-to-earnings ratio of -19.76 and a beta of 0.83. The stock has a 50-day moving average of $14.58 and a 200 day moving average of $14.48. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 3.16. BRT Apartments has a twelve month low of $13.18 and a twelve month high of $16.66.

BRT Apartments (NYSE:BRT - Get Free Report) last issued its quarterly earnings data on Monday, August 10th. The financial services provider reported ($0.19) EPS for the quarter, beating the consensus estimate of ($0.20) by $0.01. The company had revenue of $24.47 million for the quarter, compared to analyst estimates of $24.36 million. BRT Apartments had a negative return on equity of 7.46% and a negative net margin of 13.22%. Sell-side analysts anticipate that BRT Apartments will post 1.46 EPS for the current fiscal year.

About BRT Apartments

BRT Apartments Corp. is a real estate investment trust (REIT) focused on the ownership, operation and development of multifamily residential properties. Its portfolio primarily consists of apartment communities, including garden-style properties, that generate rental income from individual residents.

The company invests in and manages multifamily properties in selected markets across the United States, with a focus on regions including the Southeast, Texas and Arizona. Its activities include acquiring apartment communities, overseeing property operations, and pursuing renovations or other improvements intended to support the long-term performance of its residential portfolio.

BRT Apartments Corp.

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