BRT Apartments (NYSE:BRT) Upgraded by Zacks Research to “Hold” Rating

Zacks Research upgraded shares of BRT Apartments (NYSE:BRT) to a hold rating in a research note issued to investors on Monday morning,Zacks.com reports.

A number of other equities analysts have also commented on BRT. Citigroup reaffirmed a “market outperform” rating on shares of BRT Apartments in a report on Friday, May 29th. Weiss Ratings upgraded BRT Apartments from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday, July 6th. Finally, Wall Street Zen raised BRT Apartments from a “sell” rating to a “hold” rating in a report on Saturday, May 23rd. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, BRT Apartments currently has a consensus rating of “Hold” and a consensus target price of $19.75.

BRT Apartments Stock Performance

Shares of BRT stock opened at $14.86 on Monday. The stock has a market capitalization of $279.59 million, a P/E ratio of -22.86 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’s 50 day moving average is $14.73 and its 200 day moving average is $14.54. BRT Apartments has a 12 month low of $13.18 and a 12 month high of $16.69.

BRT Apartments (NYSE:BRT) last released its quarterly earnings data on Thursday, May 7th. The financial services provider reported ($0.14) EPS for the quarter, topping the consensus estimate 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 company had revenue of $24.61 million during the quarter, compared to the consensus estimate of $24.28 million. On average, sell-side analysts anticipate that BRT Apartments will post 1.5 earnings per share for the current year.

BRT Apartments Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 9th. Shareholders of record on Thursday, June 25th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, June 25th. This represents a $1.00 dividend on an annualized basis and a yield of 6.7%. BRT Apartments’s dividend payout ratio (DPR) is presently -153.85%.

Hedge Funds Weigh In On BRT Apartments

Hedge funds and other institutional investors have recently modified their holdings of the company. Jane Street Group LLC bought a new stake in shares of BRT Apartments in the 4th quarter worth approximately $895,000. Root Financial Partners LLC purchased a new stake in shares of BRT Apartments in the 4th quarter valued at $763,000. Stifel Financial Corp boosted its stake 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 purchasing an additional 35,420 shares in the last quarter. Permanens Capital L.P. grew its holdings in shares of BRT Apartments by 21.4% during 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 purchasing an additional 35,415 shares during the last quarter. Finally, Oppenheimer & Close LLC grew its holdings in shares of BRT Apartments by 9.9% during the 4th quarter. Oppenheimer & Close LLC now owns 377,672 shares of the financial services provider’s stock valued at $5,552,000 after purchasing an additional 33,913 shares during the last quarter. 29.07% of the stock is currently owned by hedge funds and other institutional investors.

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.