BRT Apartments Corp. (NYSE:BRT) Short Interest Update

BRT Apartments Corp. (NYSE:BRT) was the recipient of a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 96,800 shares, a growth of 9.0% from the October 15th total of 88,800 shares. Currently, 0.9% of the company’s shares are short sold. Based on an average trading volume of 27,100 shares, the short-interest ratio is presently 3.6 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of BRT. Vanguard Group Inc. raised its position in shares of BRT Apartments by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 616,467 shares of the financial services provider’s stock valued at $10,357,000 after purchasing an additional 9,483 shares during the last quarter. State Street Corp lifted its holdings in shares of BRT Apartments by 0.6% in the 3rd quarter. State Street Corp now owns 244,355 shares of the financial services provider’s stock valued at $4,356,000 after buying an additional 1,561 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of BRT Apartments by 2.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 157,884 shares of the financial services provider’s stock worth $2,758,000 after purchasing an additional 3,552 shares during the period. Bank of New York Mellon Corp increased its holdings in BRT Apartments by 5.7% in the second quarter. Bank of New York Mellon Corp now owns 97,281 shares of the financial services provider’s stock valued at $1,699,000 after buying an additional 5,207 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC acquired a new stake in shares of BRT Apartments during the 3rd quarter valued at about $1,594,000. Hedge funds and other institutional investors own 29.07% of the company’s stock.

Wall Street Analyst Weigh In

Separately, B. Riley increased their target price on BRT Apartments from $20.50 to $21.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th.

BRT Apartments Trading Up 1.5 %

BRT stock traded up $0.28 during mid-day trading on Monday, reaching $19.42. The company had a trading volume of 43,020 shares, compared to its average volume of 33,058. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.94 and a quick ratio of 1.94. The firm has a 50 day moving average of $17.80 and a 200 day moving average of $17.85. The company has a market capitalization of $365.29 million, a PE ratio of -36.11, a price-to-earnings-growth ratio of 2.25 and a beta of 1.07. BRT Apartments has a 12 month low of $15.21 and a 12 month high of $20.12.

BRT Apartments (NYSE:BRT) last issued its earnings results on Thursday, November 7th. The financial services provider reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.47). The business had revenue of $24.40 million for the quarter, compared to the consensus estimate of $23.80 million. BRT Apartments had a negative return on equity of 4.33% and a negative net margin of 9.94%. During the same quarter in the previous year, the company earned $0.41 earnings per share. On average, equities analysts predict that BRT Apartments will post 1.42 earnings per share for the current fiscal year.

BRT Apartments Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 2nd. Stockholders of record on Tuesday, September 24th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 5.15%. The ex-dividend date of this dividend was Tuesday, September 24th. BRT Apartments’s payout ratio is -188.68%.

About BRT Apartments

BRT is a real estate investment trust that owns, operates and, to a lesser extent, holds interests in joint ventures that own multi-family properties. As of December 31, 2023, BRT owns or has interests in 28 multi-family properties with 7,707 units in 11 states.