BRT Apartments (NYSE:BRT) Issues Earnings Results, Misses Estimates By $0.02 EPS

Key Points

• BRT Apartments reported EPS of ($0.23), missing analyst estimates of ($0.21) by $0.02. Quarterly revenue was $24.73 million, slightly above expectations of $24.61 million.
• The company paid a quarterly dividend of $0.25 per share, equivalent to $1.00 annually and a 7.9% yield; its payout ratio was -142.86%.
• Analysts’ average rating was Hold, with an average price target of $20.00. Shares traded at $12.63 after declining $0.12 on Friday.

BRT Apartments (NYSE:BRT - Get Free Report) released its quarterly earnings results on Thursday. The financial services provider reported ($0.23) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.21) by ($0.02), FiscalAI reports. The firm had revenue of $24.73 million for the quarter, compared to analysts' expectations of $24.61 million. BRT Apartments had a negative return on equity of 7.46% and a negative net margin of 13.22%.

BRT Apartments Stock Performance

BRT traded down $0.12 during trading on Friday, reaching $12.63. The company's stock had a trading volume of 53,500 shares, compared to its average volume of 56,594. BRT Apartments has a 52-week low of $12.51 and a 52-week high of $15.63. The company's fifty day moving average price is $13.61 and its 200-day moving average price is $14.32. The company has a market capitalization of $237.41 million, a price-to-earnings ratio of -15.99 and a beta of 0.87. The company has a debt-to-equity ratio of 3.16, a quick ratio of 1.75 and a current ratio of 1.75.

BRT Apartments Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 6th. Stockholders of record on Monday, September 28th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 7.9%. The ex-dividend date was Monday, September 28th. BRT Apartments's dividend payout ratio (DPR) is -142.86%.

Insider Transactions at BRT Apartments

In related news, Director Alan Ginsburg sold 50,129 shares of BRT Apartments stock in a transaction that occurred on Friday, October 16th. The stock was sold at an average price of $13.43, for a total value of $673,232.47. Following the sale, the director directly owned 24,800 shares in the company, valued at $333,064. The trade was a 66.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 42.20% of the company's stock.

Analyst Upgrades and Downgrades

BRT has been the subject of several research analyst reports. Citizens Jmp reissued a "market outperform" rating and issued a $20.00 price objective on shares of BRT Apartments in a report on Thursday, August 20th. Zacks Research upgraded shares of BRT Apartments to a "hold" rating in a research report on Monday, July 13th. Citigroup reaffirmed a "market outperform" rating on shares of BRT Apartments in a report on Thursday, August 20th. Finally, Weiss Ratings downgraded shares of BRT Apartments from a "sell (d+)" rating to a "sell (d)" rating in a research report on Thursday, October 8th. Two research 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 MarketBeat, BRT Apartments has an average rating of "Hold" and an average price target of $20.00.

About BRT Apartments

BRT Apartments Corp. is a real estate investment trust (REIT) that owns, operates and invests in multifamily apartment communities. The company's portfolio is focused primarily on garden-style and other conventional residential properties, generating rental income from apartments and related services.

BRT typically invests through direct ownership and joint ventures, and its properties are concentrated largely in the Southeastern United States, with additional exposure to selected markets in other regions.

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