BRT Apartments Corp. (NYSE:BRT) Sees Significant Decrease in Short Interest

BRT Apartments Corp. (NYSE:BRT) was the target of a large decline in short interest during the month of September. As of September 15th, there was short interest totalling 90,100 shares, a decline of 9.4% from the August 31st total of 99,500 shares. Based on an average daily trading volume, of 27,100 shares, the days-to-cover ratio is currently 3.3 days. Currently, 0.8% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On BRT Apartments

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. acquired a new stake in BRT Apartments in the 2nd quarter worth approximately $28,000. BNP Paribas Financial Markets lifted its holdings in BRT Apartments by 187.0% in the 1st quarter. BNP Paribas Financial Markets now owns 8,263 shares of the financial services provider’s stock worth $139,000 after purchasing an additional 5,384 shares during the last quarter. Clear Creek Financial Management LLC lifted its holdings in BRT Apartments by 4.7% in the 2nd quarter. Clear Creek Financial Management LLC now owns 15,021 shares of the financial services provider’s stock worth $262,000 after purchasing an additional 680 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of BRT Apartments by 9.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 20,466 shares of the financial services provider’s stock worth $344,000 after buying an additional 1,726 shares during the last quarter. Finally, Wealth Alliance lifted its holdings in shares of BRT Apartments by 2.6% during the second quarter. Wealth Alliance now owns 27,146 shares of the financial services provider’s stock worth $474,000 after buying an additional 681 shares during the last quarter. 29.07% of the stock is currently owned by institutional investors and hedge funds.

BRT Apartments Stock Up 2.6 %

Shares of BRT Apartments stock traded up $0.45 during trading on Tuesday, hitting $18.03. 29,916 shares of the stock traded hands, compared to its average volume of 32,807. The stock has a market cap of $336.10 million, a P/E ratio of 79.55, a PEG ratio of 2.16 and a beta of 1.07. The company has a debt-to-equity ratio of 2.14, a quick ratio of 0.90 and a current ratio of 0.90. BRT Apartments has a twelve month low of $15.21 and a twelve month high of $20.12. The company has a fifty day moving average price of $18.33 and a two-hundred day moving average price of $17.72.

BRT Apartments (NYSE:BRT) last posted its earnings results on Friday, August 9th. The financial services provider reported ($0.13) earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.50). BRT Apartments had a negative return on equity of 3.89% and a negative net margin of 9.24%. The company had revenue of $23.86 million during the quarter, compared to analyst estimates of $23.45 million. During the same quarter last year, the firm posted $0.37 earnings per share. Equities research analysts predict that BRT Apartments will post 1.42 EPS for the current fiscal year.

BRT Apartments Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Tuesday, September 24th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, September 24th. This represents a $1.00 annualized dividend and a yield of 5.55%. BRT Apartments’s dividend payout ratio (DPR) is currently 454.55%.

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.