Brokerages Set BRT Apartments Corp (NYSE:BRT) Price Target at $13.50

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Shares of BRT Apartments Corp (NYSE:BRT) have been assigned an average recommendation of “Buy” from the six research firms that are presently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $13.50.

Several analysts recently issued reports on BRT shares. National Securities started coverage on BRT Apartments in a report on Wednesday, July 24th. They set a “buy” rating on the stock. DA Davidson reiterated a “buy” rating on shares of BRT Apartments in a report on Monday, July 29th. Finally, Zacks Investment Research lowered BRT Apartments from a “buy” rating to a “hold” rating in a report on Thursday, August 15th.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its holdings in BRT Apartments by 2.4% during the second quarter. BlackRock Inc. now owns 913,362 shares of the financial services provider’s stock worth $12,907,000 after acquiring an additional 21,067 shares in the last quarter. Renaissance Technologies LLC raised its holdings in BRT Apartments by 1.5% during the second quarter. Renaissance Technologies LLC now owns 574,042 shares of the financial services provider’s stock worth $8,111,000 after acquiring an additional 8,568 shares in the last quarter. Vanguard Group Inc. raised its holdings in BRT Apartments by 8.9% during the second quarter. Vanguard Group Inc. now owns 467,359 shares of the financial services provider’s stock worth $6,604,000 after acquiring an additional 38,256 shares in the last quarter. Geode Capital Management LLC raised its holdings in BRT Apartments by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 259,746 shares of the financial services provider’s stock worth $2,971,000 after acquiring an additional 5,749 shares in the last quarter. Finally, First Manhattan Co. raised its holdings in BRT Apartments by 0.6% during the second quarter. First Manhattan Co. now owns 207,927 shares of the financial services provider’s stock worth $2,938,000 after acquiring an additional 1,300 shares in the last quarter. Institutional investors and hedge funds own 31.52% of the company’s stock.

BRT stock opened at $14.13 on Friday. The company has a debt-to-equity ratio of 3.22, a current ratio of 1.10 and a quick ratio of 1.10. The stock has a market capitalization of $227.48 million, a P/E ratio of 14.57 and a beta of 0.73. The business has a 50-day moving average of $13.72 and a 200-day moving average of $13.58. BRT Apartments has a fifty-two week low of $10.91 and a fifty-two week high of $14.40.

BRT Apartments (NYSE:BRT) last posted its quarterly earnings data on Wednesday, August 7th. The financial services provider reported ($0.27) earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.48). The firm had revenue of $33.12 million for the quarter, compared to analyst estimates of $32.27 million. BRT Apartments had a negative return on equity of 1.25% and a negative net margin of 2.84%. Equities analysts expect that BRT Apartments will post 0.84 EPS for the current year.

About BRT Apartments

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.

Read More: How are Outstanding Shares Different from Authorized Shares?

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