BlackRock Inc. Invests $16.31 Million in BRT Apartments Corp. $BRT

Key Points

• BlackRock acquired 1.06 million shares of BRT Apartments during the second quarter, worth approximately $16.31 million and representing about 5.64% of the company. Institutional investors and hedge funds collectively own 29.07% of BRT.
• Analyst sentiment is mixed, with three Buy ratings, one Hold and one Sell; the consensus rating is Hold with a $19.75 price target. JMP and Citigroup maintained Market Outperform ratings, while Zacks upgraded the stock to Hold.
• BRT shares opened at $14.60, while the company reported quarterly revenue of $24.47 million and an adjusted loss of $0.19 per share, slightly better than estimates. The REIT also pays a $0.25 quarterly dividend, equating to a 6.8% annualized yield.

BlackRock Inc. purchased a new position in shares of BRT Apartments Corp. (NYSE:BRT - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 1,061,220 shares of the financial services provider's stock, valued at approximately $16,311,000. BlackRock Inc. owned about 5.64% of BRT Apartments at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Root Financial Partners LLC bought a new position in shares of BRT Apartments in the fourth quarter valued at about $763,000. Wedbush Securities Inc. bought a new stake in BRT Apartments during the 4th quarter worth about $289,000. Wells Fargo & Company MN increased its position in 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 valued at $192,000 after acquiring an additional 3,785 shares in the last quarter. BNP Paribas Financial Markets increased its position in BRT Apartments by 240.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 10,685 shares of the financial services provider's stock valued at $167,000 after acquiring an additional 7,546 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its stake in shares of BRT Apartments by 107.1% in the fourth quarter. Russell Investments Group Ltd. now owns 3,626 shares of the financial services provider's stock worth $53,000 after acquiring an additional 1,875 shares during the last quarter. 29.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

BRT Apartments Stock Up 0.8%

Shares of NYSE:BRT opened at $14.60 on Friday. The company has a debt-to-equity ratio of 3.16, a current ratio of 1.75 and a quick ratio of 1.75. The stock has a market cap of $274.33 million, a price-to-earnings ratio of -20.86 and a beta of 0.83. The company has a 50 day moving average of $14.77 and a 200-day moving average of $14.52. BRT Apartments Corp. has a one year low of $13.18 and a one year high of $16.69.

BRT Apartments (NYSE:BRT - Get Free Report) last announced its quarterly earnings data on Monday, August 10th. The financial services provider reported ($0.19) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.20) by $0.01. BRT Apartments had a negative net margin of 13.22% and a negative return on equity of 7.46%. The firm had revenue of $24.47 million for the quarter, compared to analysts' expectations of $24.36 million. On average, sell-side analysts forecast that BRT Apartments Corp. will post 1.46 earnings per share for the current year.

BRT Apartments Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 9th. Stockholders of record on Thursday, June 25th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 6.8%. The ex-dividend date was Thursday, June 25th. BRT Apartments's dividend payout ratio (DPR) is currently -142.86%.

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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