BRT Apartments Corp. (BRT) To Go Ex-Dividend on September 28th

BRT Apartments Corp. (NYSE:BRT) declared a quarterly dividend on Thursday, September 17th. Stockholders of record on Monday, September 28th will be paid a dividend of $0.25 per share by the financial services provider on Tuesday, October 6th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 7.3%. The ex-dividend date of this dividend is Monday, September 28th.

BRT Apartments has raised its dividend payment by an average of 0.0%per year over the last three years. BRT Apartments has a payout ratio of -181.8% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect BRT Apartments to earn $1.54 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 64.9%.

BRT Apartments Stock Up 0.6%

BRT stock opened at $13.79 on Friday. The company has a fifty day moving average price of $14.45 and a 200 day moving average price of $14.45. BRT Apartments has a 12 month low of $13.18 and a 12 month high of $15.97. The company has a market cap of $259.10 million, a price-to-earnings ratio of -19.70 and a beta of 0.83. The company has a debt-to-equity ratio of 3.16, a current ratio of 1.75 and a quick ratio of 1.75.

BRT Apartments (NYSE:BRT) last issued its quarterly earnings data on Monday, August 10th. The financial services provider reported ($0.19) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.20) by $0.01. BRT Apartments had a negative net margin of 13.22% and a negative return on equity of 7.46%. The company had revenue of $24.47 million for the quarter, compared to the consensus estimate of $24.36 million. Sell-side analysts expect that BRT Apartments will post 1.46 earnings per share for the current year.

Institutional Investors Weigh In On BRT Apartments

A number of hedge funds and other institutional investors have recently made changes to their positions in BRT. Odyssean LLC purchased a new stake in BRT Apartments in the 2nd quarter valued at about $207,000. Public Employees Retirement System of Ohio purchased a new position in shares of BRT Apartments in the 2nd quarter worth about $172,000. Bank of America Corp DE acquired a new position in shares of BRT Apartments in the 2nd quarter valued at about $182,000. Capital Square LLC purchased a new stake in BRT Apartments during the second quarter worth approximately $309,000. Finally, BlackRock Inc. purchased a new stake in BRT Apartments during the 2nd quarter worth $16,311,000. Hedge funds and other institutional investors own 29.07% of the company’s stock.

BRT Apartments Company Profile

BRT Apartments Corp. is a real estate investment trust (REIT) focused on the ownership, operation and development of multifamily residential properties. Its portfolio primarily consists of apartment communities, including garden-style properties, that generate rental income from individual residents.

The company invests in and manages multifamily properties in selected markets across the United States, with a focus on regions including the Southeast, Texas and Arizona. Its activities include acquiring apartment communities, overseeing property operations, and pursuing renovations or other improvements intended to support the long-term performance of its residential portfolio.

BRT Apartments Corp.