Great Lakes Advisors LLC Invests $2 Million in BRT Apartments Corp. $BRT

Great Lakes Advisors LLC acquired a new position in BRT Apartments Corp. (NYSE:BRT) in the 2nd quarter, HoldingsChannel.com reports. The firm acquired 281,762 shares of the financial services provider’s stock, valued at approximately $1,995,000.

A number of other institutional investors have also recently bought and sold shares of the business. Russell Investments Group Ltd. increased its holdings in shares of BRT Apartments by 725.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,751 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 1,539 shares during the period. Osaic Holdings Inc. boosted its holdings in shares of BRT Apartments by 111.8% during the second quarter. Osaic Holdings Inc. now owns 1,809 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 955 shares during the period. CANADA LIFE ASSURANCE Co grew its position in BRT Apartments by 1,171.8% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 2,073 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 1,910 shares in the last quarter. Strs Ohio purchased a new position in BRT Apartments during the first quarter valued at approximately $39,000. Finally, BNP Paribas Financial Markets grew its position in BRT Apartments by 388.9% during the second quarter. BNP Paribas Financial Markets now owns 3,139 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 2,497 shares in the last quarter. 29.07% of the stock is currently owned by institutional investors and hedge funds.

BRT Apartments Price Performance

NYSE BRT opened at $14.59 on Friday. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 3.16. The stock has a market capitalization of $274.15 million, a PE ratio of -20.84 and a beta of 0.85. BRT Apartments Corp. has a 12-month low of $13.18 and a 12-month high of $16.69. The company has a 50 day moving average price of $14.81 and a two-hundred day moving average price of $14.53.

BRT Apartments (NYSE:BRT) last released its quarterly earnings data on Monday, August 10th. The financial services provider reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.01. The business had revenue of $24.47 million during the quarter, compared to analyst estimates of $24.36 million. BRT Apartments had a negative net margin of 13.22% and a negative return on equity of 7.46%. As a group, equities analysts predict that BRT Apartments Corp. will post 1.5 earnings per share for the current fiscal year.

BRT Apartments Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 9th. Stockholders of record on Thursday, June 25th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, June 25th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.9%. BRT Apartments’s dividend payout ratio is currently -142.86%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on BRT shares. Zacks Research upgraded shares of BRT Apartments to a “hold” rating in a research report on Monday, July 13th. Weiss Ratings cut shares of BRT Apartments from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday, August 11th. Citizens Jmp reaffirmed a “market outperform” rating and issued a $20.00 price target on shares of BRT Apartments in a research note on Thursday. Citigroup reiterated a “market outperform” rating on shares of BRT Apartments in a report on Thursday. Finally, Wall Street Zen raised 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, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $19.75.

BRT Apartments Company Profile

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.