BRT Apartments (NYSE:BRT) Stock Passes Above 200-Day Moving Average – Here’s Why

BRT Apartments Corp. (NYSE:BRT)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $17.77 and traded as high as $17.90. BRT Apartments shares last traded at $17.46, with a volume of 18,239 shares changing hands.

Analysts Set New Price Targets

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

BRT Apartments Stock Down 2.6 %

The company has a debt-to-equity ratio of 2.14, a current ratio of 0.90 and a quick ratio of 0.90. The firm’s 50-day moving average price is $18.20 and its 200 day moving average price is $17.77. The firm has a market cap of $325.47 million, a P/E ratio of 79.36, a PEG ratio of 2.16 and a beta of 1.06.

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). 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 for the quarter, compared to the consensus estimate of $23.45 million. During the same period in the previous year, the business posted $0.37 EPS. On average, equities research analysts expect that BRT Apartments Corp. will post 1.42 earnings per share for the current fiscal year.

BRT Apartments Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 2nd. Shareholders of record on Tuesday, September 24th were issued a $0.25 dividend. The ex-dividend date was Tuesday, September 24th. This represents a $1.00 dividend on an annualized basis and a yield of 5.73%. BRT Apartments’s dividend payout ratio is currently 454.55%.

Hedge Funds Weigh In On BRT Apartments

A number of large investors have recently bought and sold shares of BRT. Oppenheimer & Close LLC lifted its holdings in BRT Apartments by 3.4% in the first quarter. Oppenheimer & Close LLC now owns 347,774 shares of the financial services provider’s stock worth $5,843,000 after acquiring an additional 11,287 shares during the last quarter. Vanguard Group Inc. lifted 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 acquiring an additional 9,483 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in BRT Apartments by 187.0% in the first quarter. BNP Paribas Financial Markets now owns 8,263 shares of the financial services provider’s stock worth $139,000 after acquiring an additional 5,384 shares during the last quarter. Bank of New York Mellon Corp lifted 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 worth $1,699,000 after acquiring an additional 5,207 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in 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 worth $2,758,000 after acquiring an additional 3,552 shares during the last quarter. Institutional investors own 29.07% of the company’s stock.

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.