BRT Apartments Corp (BRT) Expected to Announce Quarterly Sales of $31.88 Million

Brokerages expect that BRT Apartments Corp (NYSE:BRT) will post $31.88 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for BRT Apartments’ earnings. The highest sales estimate is $31.91 million and the lowest is $31.85 million. BRT Apartments posted sales of $30.15 million in the same quarter last year, which suggests a positive year over year growth rate of 5.7%. The business is scheduled to issue its next quarterly earnings results on Wednesday, August 14th.

According to Zacks, analysts expect that BRT Apartments will report full year sales of $128.54 million for the current year. For the next financial year, analysts forecast that the firm will report sales of $133.16 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for BRT Apartments.

A number of research firms have weighed in on BRT. Compass Point began coverage on BRT Apartments in a research report on Tuesday, January 22nd. They issued a “neutral” rating and a $13.50 target price for the company. Zacks Investment Research upgraded BRT Apartments from a “sell” rating to a “hold” rating in a research report on Friday, March 29th. B. Riley restated a “buy” rating on shares of BRT Apartments in a research report on Tuesday, January 15th. Finally, DA Davidson began coverage on BRT Apartments in a research report on Thursday, March 28th. They issued a “buy” rating and a $16.00 target price for the company. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $15.38.

BRT traded up $0.10 during trading on Friday, reaching $14.30. The stock had a trading volume of 14,549 shares, compared to its average volume of 24,171. The company has a market capitalization of $227.04 million, a price-to-earnings ratio of 14.74 and a beta of 0.59. The company has a debt-to-equity ratio of 2.96, a current ratio of 1.48 and a quick ratio of 1.48. BRT Apartments has a 1-year low of $10.91 and a 1-year high of $14.30.

Several large investors have recently made changes to their positions in the company. Bank of New York Mellon Corp increased its stake in shares of BRT Apartments by 16.6% during the third quarter. Bank of New York Mellon Corp now owns 109,444 shares of the financial services provider’s stock valued at $1,318,000 after buying an additional 15,609 shares during the period. Martingale Asset Management L P increased its stake in shares of BRT Apartments by 47.9% during the third quarter. Martingale Asset Management L P now owns 44,120 shares of the financial services provider’s stock valued at $532,000 after buying an additional 14,293 shares during the period. BlackRock Inc. increased its stake in shares of BRT Apartments by 1.7% during the third quarter. BlackRock Inc. now owns 812,994 shares of the financial services provider’s stock valued at $9,787,000 after buying an additional 13,446 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of BRT Apartments by 96.3% during the third quarter. Dimensional Fund Advisors LP now owns 25,694 shares of the financial services provider’s stock valued at $309,000 after buying an additional 12,607 shares during the period. Finally, TIAA CREF Investment Management LLC increased its stake in shares of BRT Apartments by 144.4% during the third quarter. TIAA CREF Investment Management LLC now owns 30,952 shares of the financial services provider’s stock valued at $373,000 after buying an additional 18,286 shares during the period. Institutional investors own 30.65% of the company’s stock.

BRT Apartments Company Profile

BRT is a real estate investment trust that owns, operates and develops multi-family properties. Interested parties are urged to review the Form 10-Q filed with the Securities and Exchange Commission for the quarter ended December 31, 2018 and the supplemental disclosures regarding the quarter on the investor relations section of the Company's website.

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Earnings History and Estimates for BRT Apartments (NYSE:BRT)

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