Vise Technologies Inc. Purchases New Position in BRT Apartments Corp. $BRT

Key Points

• Vise Technologies acquired 96,580 BRT Apartments shares in the third quarter, worth about $1.29 million and representing roughly 0.51% of the company. Hedge funds and other institutions collectively own 29.07% of BRT’s stock.
• Director Alan Ginsburg sold 50,129 shares for about $673,000, reducing his ownership by 66.9%. Company insiders overall own 42.20% of the stock.
• BRT’s latest quarterly EPS of -$0.23 missed estimates of -$0.21, though revenue slightly beat forecasts. The company’s quarterly dividend is $0.25 per share, equivalent to a 7.9% annualized yield; analysts’ consensus rating is Hold.

Vise Technologies Inc. acquired a new position in BRT Apartments Corp. (NYSE:BRT - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 96,580 shares of the financial services provider's stock, valued at approximately $1,290,000. Vise Technologies Inc. owned about 0.51% of BRT Apartments as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in BRT Apartments during the 2nd quarter valued at $16,311,000. Bank of New York Mellon Corp purchased a new position in shares of BRT Apartments in the second quarter worth $1,336,000. Root Financial Partners LLC raised its stake in shares of BRT Apartments by 82.4% in the third quarter. Root Financial Partners LLC now owns 94,694 shares of the financial services provider's stock worth $1,265,000 after purchasing an additional 42,773 shares during the last quarter. Wedbush Securities Inc. lifted its holdings in shares of BRT Apartments by 20.6% during the third quarter. Wedbush Securities Inc. now owns 25,167 shares of the financial services provider's stock valued at $336,000 after purchasing an additional 4,306 shares in the last quarter. Finally, Capital Square LLC bought a new position in shares of BRT Apartments during the second quarter valued at $309,000. 29.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other BRT Apartments news, Director Alan Ginsburg sold 50,129 shares of the stock in a transaction dated Friday, October 16th. The stock was sold at an average price of $13.43, for a total value of $673,232.47. Following the transaction, the director owned 24,800 shares of the company's stock, valued at approximately $333,064. This represents a 66.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 42.20% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently commented on BRT shares. Citigroup reaffirmed a "market outperform" rating on shares of BRT Apartments in a research report on Thursday, August 20th. Zacks Research raised BRT Apartments to a "hold" rating in a research report on Monday, July 13th. Weiss Ratings cut shares of BRT Apartments from a "sell (d+)" rating to a "sell (d)" rating in a research note on Thursday, October 8th. Finally, Citizens Jmp reaffirmed a "market outperform" rating and set a $20.00 price target on shares of BRT Apartments in a report on Thursday, August 20th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, BRT Apartments currently has an average rating of "Hold" and a consensus price target of $20.00.

BRT Apartments Trading Down 0.9%

NYSE:BRT opened at $12.63 on Friday. The company has a market cap of $237.41 million, a PE ratio of -15.99 and a beta of 0.87. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 3.16. The company has a 50 day simple moving average of $13.61 and a two-hundred day simple moving average of $14.32. BRT Apartments Corp. has a 12 month low of $12.51 and a 12 month high of $15.63.

BRT Apartments (NYSE:BRT - Get Free Report) last released its quarterly earnings results on Thursday, November 5th. The financial services provider reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.02). The firm had revenue of $24.73 million for the quarter, compared to the consensus estimate of $24.61 million. BRT Apartments had a negative net margin of 14.45% and a negative return on equity of 8.39%. Research analysts forecast that BRT Apartments Corp. will post 1.46 earnings per share for the current year.

BRT Apartments Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 6th. Investors of record on Monday, September 28th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 7.9%. The ex-dividend date was Monday, September 28th. BRT Apartments's dividend payout ratio is -142.86%.

BRT Apartments Profile

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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