BRT Apartments (NYSE:BRT) Given Market Outperform Rating at JMP Securities

JMP Securities reaffirmed their market outperform rating on shares of BRT Apartments (NYSE:BRT) in a report published on Tuesday, Benzinga reports. JMP Securities currently has a $24.00 target price on the financial services provider’s stock.

Separately, B. Riley lifted their price target on BRT Apartments from $19.50 to $20.50 and gave the stock a buy rating in a research report on Friday, May 17th.

BRT Apartments Stock Performance

Shares of BRT stock opened at $17.26 on Tuesday. BRT Apartments has a 1 year low of $15.21 and a 1 year high of $20.69. The company has a debt-to-equity ratio of 2.08, a quick ratio of 1.10 and a current ratio of 1.10. The firm has a market cap of $321.73 million, a price-to-earnings ratio of 78.46, a PEG ratio of 1.93 and a beta of 1.11. The stock’s 50-day moving average is $17.31 and its two-hundred day moving average is $17.41.

BRT Apartments Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Wednesday, March 27th were issued a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, March 26th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.79%. BRT Apartments’s payout ratio is 454.57%.

Insider Transactions at BRT Apartments

In related news, major shareholder Investors L. P. Gould acquired 2,277 shares of BRT Apartments stock in a transaction on Monday, March 18th. The stock was purchased at an average cost of $16.29 per share, with a total value of $37,092.33. Following the purchase, the insider now directly owns 3,527,936 shares in the company, valued at $57,470,077.44. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, major shareholder Investors L. P. Gould acquired 2,277 shares of the business’s stock in a transaction on Monday, March 18th. The stock was bought at an average price of $16.29 per share, for a total transaction of $37,092.33. Following the transaction, the insider now owns 3,527,936 shares in the company, valued at $57,470,077.44. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeffrey Gould bought 3,300 shares of BRT Apartments stock in a transaction dated Wednesday, March 27th. The stock was purchased at an average price of $16.03 per share, with a total value of $52,899.00. Following the purchase, the chief executive officer now directly owns 3,551,173 shares in the company, valued at approximately $56,925,303.19. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 107,349 shares of company stock worth $1,785,491. Company insiders own 40.20% of the company’s stock.

Hedge Funds Weigh In On BRT Apartments

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Silverberg Bernstein Capital Management LLC purchased a new stake in shares of BRT Apartments in the fourth quarter valued at approximately $1,229,000. Clear Creek Financial Management LLC purchased a new stake in shares of BRT Apartments during the 4th quarter worth $263,000. Oppenheimer & Close LLC grew its stake in shares of BRT Apartments by 3.4% during the 1st quarter. Oppenheimer & Close LLC now owns 347,774 shares of the financial services provider’s stock worth $5,843,000 after purchasing an additional 11,287 shares during the period. Allspring Global Investments Holdings LLC grew its stake in shares of BRT Apartments by 142.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 18,740 shares of the financial services provider’s stock worth $348,000 after purchasing an additional 11,013 shares during the period. Finally, Vanguard Group Inc. increased its holdings in shares of BRT Apartments by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 616,467 shares of the financial services provider’s stock valued at $10,357,000 after purchasing an additional 9,483 shares in the last quarter. Institutional investors and hedge funds 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.