Q3 2024 EPS Estimates for BRT Apartments Corp. Reduced by Analyst (NYSE:BRT)

BRT Apartments Corp. (NYSE:BRT) – Stock analysts at B. Riley cut their Q3 2024 earnings per share (EPS) estimates for shares of BRT Apartments in a research report issued to clients and investors on Thursday, September 12th. B. Riley analyst J. Massocca now forecasts that the financial services provider will earn $0.35 per share for the quarter, down from their previous forecast of $0.38. B. Riley has a “Buy” rating and a $21.00 price target on the stock. The consensus estimate for BRT Apartments’ current full-year earnings is $1.50 per share. B. Riley also issued estimates for BRT Apartments’ Q4 2024 earnings at $0.37 EPS, FY2024 earnings at $1.42 EPS and FY2025 earnings at $1.50 EPS.

BRT Apartments (NYSE:BRT) last issued its earnings results on Friday, August 9th. The financial services provider reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.50). The business had revenue of $23.86 million during the quarter, compared to analysts’ expectations of $23.45 million. BRT Apartments had a negative return on equity of 3.89% and a negative net margin of 9.24%. During the same period last year, the firm posted $0.37 EPS.

Separately, JMP Securities reissued a “market outperform” rating and issued a $24.00 price target on shares of BRT Apartments in a research report on Tuesday, May 21st.

BRT Apartments Stock Up 2.0 %

Shares of BRT opened at $19.00 on Monday. The business has a fifty day moving average of $18.23 and a 200 day moving average of $17.52. BRT Apartments has a 52-week low of $15.21 and a 52-week high of $20.12. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 2.14. The company has a market cap of $354.18 million, a PE ratio of 86.36, a P/E/G ratio of 2.02 and a beta of 1.07.

BRT Apartments Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Tuesday, September 24th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 5.26%. The ex-dividend date is Tuesday, September 24th. BRT Apartments’s dividend payout ratio is currently 454.55%.

Institutional Investors Weigh In On BRT Apartments

Institutional investors have recently made changes to their positions in the stock. Wealth Alliance increased its stake in BRT Apartments by 2.6% in the second quarter. Wealth Alliance now owns 27,146 shares of the financial services provider’s stock valued at $474,000 after purchasing an additional 681 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of BRT Apartments by 2.3% in the second quarter. Dimensional Fund Advisors LP now owns 157,884 shares of the financial services provider’s stock valued at $2,758,000 after purchasing an additional 3,552 shares during the period. Meeder Asset Management Inc. acquired a new stake in shares of BRT Apartments during the 2nd quarter worth $28,000. ClariVest Asset Management LLC grew its stake in BRT Apartments by 2.9% during the second quarter. ClariVest Asset Management LLC now owns 44,767 shares of the financial services provider’s stock worth $782,000 after buying an additional 1,251 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of 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 purchasing an additional 5,207 shares during the period. 29.07% of the stock is currently owned by institutional investors and hedge funds.

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.