BRT Apartments Corp. (NYSE:BRT) Sees Large Decline in Short Interest

BRT Apartments Corp. (NYSE:BRT) was the target of a significant 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 trading volume of 27,100 shares, the days-to-cover ratio is presently 3.3 days. Currently, 0.8% of the company’s stock are sold short.

BRT Apartments Stock Up 2.6 %

BRT traded up $0.45 during trading on Tuesday, hitting $18.03. The company had a trading volume of 29,916 shares, compared to its average volume of 32,807. The company has a market cap of $336.10 million, a PE ratio of 79.55, a P/E/G ratio of 2.16 and a beta of 1.07. The company has a debt-to-equity ratio of 2.14, a current ratio of 0.90 and a quick ratio of 0.90. BRT Apartments has a 1-year low of $15.21 and a 1-year high of $20.12. The business has a 50-day moving average of $18.33 and a 200-day moving average of $17.72.

BRT Apartments (NYSE:BRT) last issued its quarterly earnings results on Friday, August 9th. The financial services provider reported ($0.13) EPS for the quarter, missing the consensus estimate of $0.37 by ($0.50). The company had revenue of $23.86 million for the quarter, compared to the consensus estimate 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 in the previous year, the business posted $0.37 EPS. As a group, analysts forecast that BRT Apartments will post 1.42 earnings per share for the current year.

BRT Apartments Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders 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 dividend on an annualized basis and a dividend yield of 5.55%. BRT Apartments’s dividend payout ratio (DPR) is 454.55%.

Wall Street Analysts Forecast Growth

Separately, B. Riley increased 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

Several institutional investors and hedge funds have recently made changes to their positions in BRT. Vanguard Group Inc. boosted its holdings in BRT Apartments by 1.6% in the first quarter. Vanguard Group Inc. now owns 616,467 shares of the financial services provider’s stock worth $10,357,000 after purchasing an additional 9,483 shares during the period. Oppenheimer & Close LLC boosted its holdings in shares of BRT Apartments by 3.4% in the 1st quarter. Oppenheimer & Close LLC now owns 347,774 shares of the financial services provider’s stock valued at $5,843,000 after buying an additional 11,287 shares during the period. Dimensional Fund Advisors LP grew its position 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 valued at $2,758,000 after buying an additional 3,552 shares during the last quarter. Bank of New York Mellon Corp raised its stake in BRT Apartments by 5.7% during the second quarter. Bank of New York Mellon Corp now owns 97,281 shares of the financial services provider’s stock worth $1,699,000 after acquiring an additional 5,207 shares during the period. Finally, ClariVest Asset Management LLC lifted its holdings in BRT Apartments by 2.9% in the second quarter. ClariVest Asset Management LLC now owns 44,767 shares of the financial services provider’s stock worth $782,000 after acquiring an additional 1,251 shares during the last quarter. 29.07% of the stock is 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.