BRT Apartments Corp. (NYSE:BRT – Get Rating) – Investment analysts at B. Riley raised their Q3 2022 EPS estimates for BRT Apartments in a report issued on Thursday, May 19th. B. Riley analyst C. Kucera now forecasts that the financial services provider will post earnings per share of $0.37 for the quarter, up from their prior estimate of $0.33. B. Riley currently has a “Buy” rating and a $29.00 target price on the stock. B. Riley also issued estimates for BRT Apartments’ Q4 2022 earnings at $0.40 EPS, Q1 2023 earnings at $0.38 EPS, Q2 2023 earnings at $0.40 EPS, Q3 2023 earnings at $0.43 EPS and Q4 2023 earnings at $0.45 EPS.
A number of other analysts have also recently weighed in on the stock. Zacks Investment Research raised shares of BRT Apartments from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a research note on Tuesday, March 22nd. StockNews.com initiated coverage on shares of BRT Apartments in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. JMP Securities reissued a “buy” rating and issued a $28.00 target price on shares of BRT Apartments in a research note on Wednesday, March 16th. Finally, TheStreet raised shares of BRT Apartments from a “c+” rating to a “b-” rating in a research note on Tuesday, May 10th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $27.25.
BRT Apartments (NYSE:BRT – Get Rating) last released its quarterly earnings data on Monday, May 9th. The financial services provider reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.10. BRT Apartments had a net margin of 121.97% and a return on equity of 22.09%. During the same period last year, the firm posted $0.30 earnings per share.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 7th. Shareholders of record on Thursday, March 24th were paid a dividend of $0.23 per share. The ex-dividend date was Wednesday, March 23rd. This represents a $0.92 annualized dividend and a yield of 4.48%. BRT Apartments’s dividend payout ratio is 37.40%.
In other news, major shareholder Investors L. P. Gould acquired 6,924 shares of the firm’s stock in a transaction on Thursday, May 12th. The shares were purchased at an average cost of $19.99 per share, with a total value of $138,410.76. Following the completion of the purchase, the insider now owns 2,996,822 shares of the company’s stock, valued at $59,906,471.78. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 37.90% of the stock is currently owned by corporate insiders.
Several hedge funds have recently made changes to their positions in BRT. Metropolitan Life Insurance Co NY lifted its position in shares of BRT Apartments by 83.9% during the first quarter. Metropolitan Life Insurance Co NY now owns 1,392 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 635 shares in the last quarter. Dorsey Wright & Associates acquired a new position in BRT Apartments in the first quarter valued at approximately $52,000. BNP Paribas Arbitrage SA lifted its holdings in BRT Apartments by 94.2% in the third quarter. BNP Paribas Arbitrage SA now owns 2,921 shares of the financial services provider’s stock valued at $56,000 after buying an additional 1,417 shares during the period. UBS Group AG lifted its holdings in BRT Apartments by 96.4% in the third quarter. UBS Group AG now owns 3,022 shares of the financial services provider’s stock valued at $58,000 after buying an additional 1,483 shares during the period. Finally, Royal Bank of Canada lifted its holdings in BRT Apartments by 33.6% in the second quarter. Royal Bank of Canada now owns 3,975 shares of the financial services provider’s stock valued at $69,000 after buying an additional 1,000 shares during the period. Institutional investors own 28.28% of the company’s stock.
About BRT Apartments (Get Rating)
BRT is a real estate investment trust that owns, operates and develops multi-family properties.
- Get a free copy of the StockNews.com research report on BRT Apartments (BRT)
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