Analysts Offer Predictions for BRT Apartments Corp.’s Q1 2024 Earnings (NYSE:BRT)

BRT Apartments Corp. (NYSE:BRT) – Investment analysts at B. Riley issued their Q1 2024 earnings estimates for BRT Apartments in a research note issued on Wednesday, April 10th. B. Riley analyst J. Massocca anticipates that the financial services provider will post earnings per share of $0.27 for the quarter. B. Riley has a “Buy” rating and a $19.50 price target on the stock. The consensus estimate for BRT Apartments’ current full-year earnings is $1.20 per share. B. Riley also issued estimates for BRT Apartments’ Q2 2024 earnings at $0.29 EPS, Q3 2024 earnings at $0.29 EPS, Q4 2024 earnings at $0.34 EPS and FY2024 earnings at $1.20 EPS.

Separately, JMP Securities cut their target price on shares of BRT Apartments from $28.00 to $24.00 and set an “outperform” rating for the company in a research report on Thursday, March 14th.

BRT Apartments Stock Down 0.6 %

BRT Apartments stock opened at $16.90 on Monday. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 2.01. The firm’s fifty day moving average is $16.32 and its 200 day moving average is $17.26. BRT Apartments has a 12-month low of $15.21 and a 12-month high of $20.69. The company has a market capitalization of $313.91 million, a PE ratio of 93.45, a PEG ratio of 2.45 and a beta of 1.15.

BRT Apartments Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Shareholders of record on Wednesday, March 27th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 5.92%. The ex-dividend date of this dividend was Tuesday, March 26th. BRT Apartments’s dividend payout ratio is presently 555.59%.

Insider Buying and Selling at BRT Apartments

In other BRT Apartments news, SVP Matthew J. Gould purchased 12,200 shares of the firm’s stock in a transaction that occurred on Thursday, April 11th. The stock was purchased at an average cost of $16.89 per share, with a total value of $206,058.00. Following the purchase, the senior vice president now owns 3,671,069 shares of the company’s stock, valued at $62,004,355.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Matthew J. Gould purchased 12,200 shares of the business’s stock in a transaction dated Thursday, April 11th. The shares were acquired at an average cost of $16.89 per share, for a total transaction of $206,058.00. Following the acquisition, the senior vice president now owns 3,671,069 shares of the company’s stock, valued at approximately $62,004,355.41. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jeffrey Gould purchased 4,275 shares of the business’s stock in a transaction dated Monday, March 25th. The stock was bought at an average price of $16.48 per share, for a total transaction of $70,452.00. Following the completion of the acquisition, the chief executive officer now directly owns 3,536,673 shares in the company, valued at approximately $58,284,371.04. The disclosure for this purchase can be found here. Insiders bought 77,787 shares of company stock worth $1,284,955 in the last quarter. 38.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On BRT Apartments

A number of large investors have recently bought and sold shares of BRT. Metropolitan Life Insurance Co NY lifted its holdings in BRT Apartments by 83.9% in the first quarter. Metropolitan Life Insurance Co NY now owns 1,392 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 635 shares during the last quarter. Orion Capital Management LLC acquired a new stake in BRT Apartments in the third quarter valued at about $35,000. Barclays PLC lifted its position in BRT Apartments by 166.9% in the fourth quarter. Barclays PLC now owns 3,230 shares of the financial services provider’s stock valued at $64,000 after purchasing an additional 2,020 shares during the period. Citigroup Inc. lifted its position in shares of BRT Apartments by 13,260.7% during the 2nd quarter. Citigroup Inc. now owns 3,741 shares of the financial services provider’s stock valued at $74,000 after acquiring an additional 3,713 shares during the period. Finally, State of Alaska Department of Revenue increased its stake in shares of BRT Apartments by 18.6% during the 3rd quarter. State of Alaska Department of Revenue now owns 5,555 shares of the financial services provider’s stock worth $95,000 after purchasing an additional 871 shares in the last quarter. Institutional investors and hedge funds own 29.07% of the company’s stock.

BRT Apartments Company Profile

BRT is a real estate investment trust that owns, operates and, to a lesser extent, holds interests in joint ventures that own multi-family properties. As of December 31, 2023, BRT owns or has interests in 28 multi-family properties with 7,707 units in 11 states.