BRT Apartments Corp Plans Quarterly Dividend of $0.20 (NYSE:BRT)

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BRT Apartments Corp (NYSE:BRT) declared a quarterly dividend on Thursday, June 13th, Wall Street Journal reports. Stockholders of record on Tuesday, June 25th will be given a dividend of 0.20 per share by the financial services provider on Tuesday, July 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 6.14%. The ex-dividend date is Monday, June 24th.

BRT Apartments has a dividend payout ratio of 85.1% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Research analysts expect BRT Apartments to earn $0.95 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 84.2%.

NYSE:BRT opened at $13.03 on Friday. The company has a debt-to-equity ratio of 2.96, a quick ratio of 1.48 and a current ratio of 1.48. BRT Apartments has a fifty-two week low of $10.91 and a fifty-two week high of $14.35. The firm has a market cap of $205.88 million, a PE ratio of 13.43 and a beta of 0.67.

A number of brokerages recently commented on BRT. DA Davidson began coverage on shares of BRT Apartments in a research note on Thursday, March 28th. They issued a “buy” rating and a $16.00 price objective on the stock. Zacks Investment Research raised shares of BRT Apartments from a “sell” rating to a “hold” rating in a research note on Friday, March 29th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $15.38.

An institutional investor recently raised its position in BRT Apartments stock. Geode Capital Management LLC boosted its holdings in BRT Apartments Corp (NYSE:BRT) by 2.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 259,746 shares of the financial services provider’s stock after acquiring an additional 5,749 shares during the period. Geode Capital Management LLC owned 1.63% of BRT Apartments worth $2,971,000 as of its most recent filing with the Securities and Exchange Commission. 31.38% of the stock is currently owned by institutional investors and hedge funds.

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BRT Apartments Company Profile

BRT is a real estate investment trust that owns, operates and develops multi-family properties. Interested parties are urged to review the Form 10-Q filed with the Securities and Exchange Commission for the quarter ended December 31, 2018 and the supplemental disclosures regarding the quarter on the investor relations section of the Company's website.

See Also: What is the balance sheet?

Dividend History for BRT Apartments (NYSE:BRT)

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