BRT Apartments Corp. (NYSE:BRT) Receives Consensus Recommendation of “Buy” from Brokerages

BRT Apartments Corp. (NYSE:BRTGet Rating) has been assigned an average rating of “Buy” from the seven ratings firms that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $26.50.

A number of analysts recently commented on the company. B. Riley raised BRT Apartments from a “neutral” rating to a “buy” rating and raised their price target for the stock from $19.00 to $29.00 in a research note on Monday, March 21st. JMP Securities reissued a “buy” rating and set a $28.00 price objective on shares of BRT Apartments in a research report on Wednesday, May 25th. StockNews.com raised BRT Apartments from a “hold” rating to a “buy” rating in a research report on Wednesday, May 25th. TheStreet raised BRT Apartments from a “c+” rating to a “b-” rating in a research report on Tuesday, May 10th. Finally, Zacks Investment Research raised BRT Apartments from a “hold” rating to a “strong-buy” rating and set a $24.00 price objective for the company in a research report on Tuesday, May 24th.

Shares of BRT stock opened at $22.80 on Wednesday. The stock has a fifty day moving average of $22.25 and a 200 day moving average of $21.93. BRT Apartments has a 52 week low of $17.05 and a 52 week high of $25.31. The firm has a market capitalization of $424.08 million, a price-to-earnings ratio of 9.27, a PEG ratio of 2.44 and a beta of 1.28. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 1.16.

BRT Apartments (NYSE:BRTGet Rating) last announced its quarterly earnings results on Monday, May 9th. The financial services provider reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.10. BRT Apartments had a return on equity of 22.09% and a net margin of 121.97%. During the same period last year, the business earned $0.30 earnings per share. Equities research analysts anticipate that BRT Apartments will post 1.54 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, April 7th. Stockholders of record on Thursday, March 24th were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Wednesday, March 23rd. This represents a $0.92 annualized dividend and a dividend yield of 4.04%. BRT Apartments’s payout ratio is presently 37.40%.

In related news, major shareholder Investors L. P. Gould purchased 6,924 shares of BRT Apartments stock in a transaction dated Thursday, May 12th. The stock was purchased at an average cost of $19.99 per share, for a total transaction of $138,410.76. Following the completion of the acquisition, the insider now directly owns 2,996,822 shares of the company’s stock, valued at $59,906,471.78. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 37.90% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Metropolitan Life Insurance Co NY increased its holdings in BRT Apartments by 83.9% in the 1st quarter. Metropolitan Life Insurance Co NY now owns 1,392 shares of the financial services provider’s stock worth $33,000 after buying an additional 635 shares in the last quarter. Dorsey Wright & Associates bought a new stake in shares of BRT Apartments during the 1st quarter valued at about $52,000. BNP Paribas Arbitrage SA grew its stake in shares of BRT Apartments by 94.2% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 2,921 shares of the financial services provider’s stock valued at $56,000 after purchasing an additional 1,417 shares during the period. Citigroup Inc. grew its stake in shares of BRT Apartments by 119.7% during the 4th quarter. Citigroup Inc. now owns 2,938 shares of the financial services provider’s stock valued at $70,000 after purchasing an additional 1,601 shares during the period. Finally, UBS Group AG grew its stake in shares of BRT Apartments by 96.4% during the 3rd quarter. UBS Group AG now owns 3,022 shares of the financial services provider’s stock valued at $58,000 after purchasing an additional 1,483 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.

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