Brokerages Expect BRT Apartments Corp (NYSE:BRT) Will Announce Quarterly Sales of $32.66 Million

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Analysts expect BRT Apartments Corp (NYSE:BRT) to post sales of $32.66 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for BRT Apartments’ earnings, with estimates ranging from $32.20 million to $33.04 million. BRT Apartments reported sales of $31.48 million in the same quarter last year, which would suggest a positive year over year growth rate of 3.7%. The firm is expected to issue its next quarterly earnings results on Monday, December 9th.

According to Zacks, analysts expect that BRT Apartments will report full-year sales of $129.49 million for the current financial year, with estimates ranging from $127.74 million to $130.76 million. For the next financial year, analysts forecast that the firm will report sales of $136.20 million, with estimates ranging from $131.72 million to $139.12 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover BRT Apartments.

BRT Apartments (NYSE:BRT) last posted its quarterly earnings results 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 business had revenue of $33.12 million for the quarter, compared to analyst estimates of $32.27 million. BRT Apartments had a negative net margin of 2.84% and a negative return on equity of 1.25%.

A number of brokerages have commented on BRT. Zacks Investment Research downgraded BRT Apartments from a “hold” rating to a “sell” rating in a research note on Monday, October 14th. National Securities began coverage on BRT Apartments in a research note on Wednesday, July 24th. They issued a “buy” rating on the stock. Finally, DA Davidson restated a “buy” rating on shares of BRT Apartments in a research note on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $15.17.

NYSE BRT traded up $0.23 on Thursday, reaching $16.99. The stock had a trading volume of 33,811 shares, compared to its average volume of 26,537. The business has a 50 day moving average price of $14.91 and a 200 day moving average price of $13.99. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 3.22. BRT Apartments has a 1 year low of $10.91 and a 1 year high of $17.00. The company has a market capitalization of $266.48 million, a price-to-earnings ratio of 17.52 and a beta of 0.75.

The company also recently announced a 0.20000 dividend, which was paid on Thursday, October 10th. Shareholders of record on Wednesday, September 25th were paid a $0.22 dividend. The ex-dividend date of this dividend was Tuesday, September 24th. This represents a yield of 6%. BRT Apartments’s dividend payout ratio (DPR) is currently 90.72%.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. grew its stake in BRT Apartments by 2.4% in the second quarter. BlackRock Inc. now owns 913,362 shares of the financial services provider’s stock valued at $12,907,000 after purchasing an additional 21,067 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of BRT Apartments by 1.5% during the 2nd 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. boosted its stake in shares of BRT Apartments by 8.9% during the 2nd 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. First Manhattan Co. boosted its stake in shares of BRT Apartments by 0.6% during the 2nd 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. Finally, Northern Trust Corp boosted its stake in shares of BRT Apartments by 2.9% during the 2nd quarter. Northern Trust Corp now owns 140,111 shares of the financial services provider’s stock worth $1,980,000 after acquiring an additional 3,965 shares in the last quarter. Hedge funds and other institutional investors own 31.87% of the company’s stock.

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.

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