BRT Apartments (NYSE:BRT) Shares Cross Above 200-Day Moving Average – Here’s What Happened

BRT Apartments Corp. (NYSE:BRT) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $14.53 and traded as high as $15.34. BRT Apartments shares last traded at $14.91, with a volume of 22,452 shares traded.

Analyst Ratings Changes

BRT has been the subject of several recent research reports. Citigroup reissued a “market outperform” rating on shares of BRT Apartments in a research note on Friday, May 29th. Weiss Ratings upgraded shares of BRT Apartments from a “sell (d)” rating to a “sell (d+)” rating in a report on Monday. Finally, Wall Street Zen raised shares of BRT Apartments from a “sell” rating to a “hold” rating in a research report on Saturday, May 23rd. Three investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.75.

BRT Apartments Stock Down 0.8%

The firm has a market cap of $279.41 million, a PE ratio of -22.84 and a beta of 0.85. The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 3.00. The firm has a 50 day moving average price of $14.69 and a 200-day moving average price of $14.53.

BRT Apartments (NYSE:BRT) last released its earnings results on Thursday, May 7th. The financial services provider reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.06. BRT Apartments had a negative net margin of 12.59% and a negative return on equity of 6.77%. The firm had revenue of $24.61 million for the quarter, compared to analyst estimates of $24.28 million.

BRT Apartments Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Stockholders of record on Thursday, June 25th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.7%. The ex-dividend date is Thursday, June 25th. BRT Apartments’s dividend payout ratio (DPR) is presently -153.85%.

Hedge Funds Weigh In On BRT Apartments

A number of institutional investors and hedge funds have recently modified their holdings of BRT. Jane Street Group LLC acquired a new stake in BRT Apartments during the fourth quarter worth approximately $895,000. Root Financial Partners LLC acquired a new position in shares of BRT Apartments in the 4th quarter valued at $763,000. Stifel Financial Corp boosted its holdings in shares of BRT Apartments by 26.4% in the 4th quarter. Stifel Financial Corp now owns 169,390 shares of the financial services provider’s stock valued at $2,490,000 after buying an additional 35,420 shares in the last quarter. Permanens Capital L.P. grew its position in shares of BRT Apartments by 21.4% in the 3rd quarter. Permanens Capital L.P. now owns 201,263 shares of the financial services provider’s stock valued at $3,192,000 after buying an additional 35,415 shares during the last quarter. Finally, Oppenheimer & Close LLC raised its stake in BRT Apartments by 9.9% during the 4th quarter. Oppenheimer & Close LLC now owns 377,672 shares of the financial services provider’s stock worth $5,552,000 after acquiring an additional 33,913 shares in the last quarter. Institutional investors and hedge funds own 29.07% of the company’s stock.

About BRT Apartments

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.