Great Lakes Advisors LLC Invests $2 Million in BRT Apartments Corp. $BRT

Key Points

• Great Lakes Advisors acquired 281,762 BRT Apartments shares worth approximately $2 million, giving it a 1.5% stake. Institutional investors overall own 29.07% of the REIT.
• BRT reported quarterly revenue of $24.47 million and an adjusted loss of $0.19 per share, narrowly beating analyst expectations. The stock opened at $14.59, near the middle of its 52-week range.
• BRT maintains a quarterly dividend of $0.25, equivalent to a 6.9% annualized yield, while analyst sentiment is mixed: the consensus rating is Hold with a target price of $19.75.

Great Lakes Advisors LLC purchased a new position in BRT Apartments Corp. (NYSE:BRT - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 281,762 shares of the financial services provider's stock, valued at approximately $1,995,000. Great Lakes Advisors LLC owned about 1.50% of BRT Apartments at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BRT. Russell Investments Group Ltd. boosted its holdings in shares of BRT Apartments by 725.9% during the third quarter. Russell Investments Group Ltd. now owns 1,751 shares of the financial services provider's stock valued at $27,000 after acquiring an additional 1,539 shares during the period. Osaic Holdings Inc. lifted its position in BRT Apartments by 111.8% in the 2nd quarter. Osaic Holdings Inc. now owns 1,809 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 955 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its position in BRT Apartments by 1,171.8% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 2,073 shares of the financial services provider's stock valued at $30,000 after purchasing an additional 1,910 shares during the last quarter. Strs Ohio acquired a new position in BRT Apartments during the 1st quarter valued at about $39,000. Finally, BNP Paribas Financial Markets grew its position in 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. Institutional investors and hedge funds own 29.07% of the company's stock.

BRT Apartments Stock Down 0.2%

BRT stock opened at $14.59 on Friday. The firm has a market cap of $274.15 million, a PE ratio of -20.84 and a beta of 0.85. BRT Apartments Corp. has a 12 month low of $13.18 and a 12 month high of $16.69. 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 firm has a 50 day simple moving average of $14.81 and a 200 day simple moving average of $14.53.

BRT Apartments (NYSE:BRT - Get Free Report) last posted its quarterly earnings results on Monday, August 10th. The financial services provider reported ($0.19) earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $24.36 million. Equities research analysts forecast that BRT Apartments Corp. will post 1.5 earnings per share for the current fiscal year.

BRT Apartments Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 9th. Shareholders of record on Thursday, June 25th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 6.9%. The ex-dividend date was Thursday, June 25th. BRT Apartments's dividend payout ratio (DPR) is presently -142.86%.

Wall Street Analysts Forecast Growth

BRT has been the subject of several analyst reports. Weiss Ratings downgraded BRT Apartments from a "sell (d+)" rating to a "sell (d)" rating in a research report on Tuesday, August 11th. Citizens Jmp reaffirmed a "market outperform" rating and set a $20.00 target price on shares of BRT Apartments in a research note on Thursday. Citigroup reiterated a "market outperform" rating on shares of BRT Apartments in a research report on Thursday. Wall Street Zen raised BRT Apartments from a "sell" rating to a "hold" rating in a report on Saturday, May 23rd. Finally, Zacks Research upgraded shares of BRT Apartments to a "hold" rating in a research note on Monday, July 13th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, BRT Apartments has an average rating of "Hold" and a consensus target price of $19.75.

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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