86,900 Shares in BRT Apartments Corp. $BRT Purchased by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon acquired 86,900 shares of BRT Apartments during the second quarter, worth approximately $1.34 million and representing 0.46% of the company. Institutional investors collectively own 29.07% of BRT’s shares.
• Analyst sentiment is mixed: three analysts rate BRT a Buy, one rates it Hold, and one rates it Sell. The overall consensus is Hold, with a target price of $19.75 versus the stock’s reported price of $14.15.
• BRT exceeded quarterly earnings expectations, reporting an adjusted loss of $0.19 per share compared with the $0.20 consensus loss, while revenue reached $24.47 million. The company continues to operate as a multifamily residential REIT focused on mid-market apartment communities.

Bank of New York Mellon Corp acquired a new position in BRT Apartments Corp. (NYSE:BRT - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 86,900 shares of the financial services provider's stock, valued at approximately $1,336,000. Bank of New York Mellon Corp owned 0.46% of BRT Apartments as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in BRT. Russell Investments Group Ltd. boosted its position in shares of 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 worth $27,000 after purchasing an additional 1,539 shares in the last quarter. Osaic Holdings Inc. raised its stake in BRT Apartments by 111.8% during the second quarter. Osaic Holdings Inc. now owns 1,809 shares of the financial services provider's stock valued at $28,000 after buying an additional 955 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its stake in shares of BRT Apartments by 1,171.8% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 2,073 shares of the financial services provider's stock worth $30,000 after acquiring an additional 1,910 shares during the last quarter. Strs Ohio purchased a new position in shares of BRT Apartments in the 1st quarter worth about $39,000. Finally, BNP Paribas Financial Markets raised its position in shares of BRT Apartments by 388.9% in the 2nd quarter. BNP Paribas Financial Markets now owns 3,139 shares of the financial services provider's stock worth $49,000 after purchasing an additional 2,497 shares during the last quarter. 29.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on BRT. Weiss Ratings raised shares of BRT Apartments from a "sell (d)" rating to a "sell (d+)" rating in a research report on Wednesday, August 26th. Wall Street Zen upgraded shares of BRT Apartments from a "sell" rating to a "hold" rating in a report on Saturday, May 23rd. Citigroup reissued a "market outperform" rating on shares of BRT Apartments in a research report on Thursday, August 20th. Citizens Jmp restated a "market outperform" rating and issued a $20.00 price objective on shares of BRT Apartments in a report on Thursday, August 20th. Finally, Zacks Research raised BRT Apartments to a "hold" rating in a research report on Monday, July 13th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, BRT Apartments presently has an average rating of "Hold" and a consensus target price of $19.75.

BRT Apartments Stock Performance

NYSE BRT opened at $14.15 on Thursday. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 3.16. BRT Apartments Corp. has a twelve month low of $13.18 and a twelve month high of $16.69. The business has a 50-day moving average price of $14.68 and a 200-day moving average price of $14.51. The firm has a market cap of $265.88 million, a price-to-earnings ratio of -20.21 and a beta of 0.83.

BRT Apartments (NYSE:BRT - Get Free Report) last released its quarterly earnings data on Monday, August 10th. The financial services provider reported ($0.19) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.20) by $0.01. BRT Apartments had a negative return on equity of 7.46% and a negative net margin of 13.22%.The business had revenue of $24.47 million for the quarter, compared to the consensus estimate of $24.36 million. As a group, equities research analysts predict that BRT Apartments Corp. will post 1.46 EPS for the current fiscal year.

BRT Apartments 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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