BRT Apartments Corp. (NYSE:BRT) Sees Significant Decrease in Short Interest

BRT Apartments Corp. (NYSE:BRT) was the recipient of a significant drop in short interest in the month of September. As of September 15th, there was short interest totalling 90,100 shares, a drop of 9.4% from the August 31st total of 99,500 shares. Based on an average daily trading volume, of 27,100 shares, the short-interest ratio is currently 3.3 days. Approximately 0.8% of the shares of the company are sold short.

Analysts Set New Price Targets

Separately, B. Riley raised 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.

Hedge Funds Weigh In On BRT Apartments

Hedge funds and other institutional investors have recently modified their holdings of the stock. Meeder Asset Management Inc. acquired a new position in shares of BRT Apartments in the 2nd quarter valued at $28,000. BNP Paribas Financial Markets boosted its position in BRT Apartments by 187.0% during the 1st 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 period. Clear Creek Financial Management LLC boosted its position in BRT Apartments by 4.7% during the 2nd quarter. Clear Creek Financial Management LLC now owns 15,021 shares of the financial services provider’s stock worth $262,000 after acquiring an additional 680 shares during the period. Allspring Global Investments Holdings LLC boosted its position in BRT Apartments by 9.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 20,466 shares of the financial services provider’s stock worth $344,000 after acquiring an additional 1,726 shares during the period. Finally, Wealth Alliance boosted its position in BRT Apartments by 2.6% during the 2nd quarter. Wealth Alliance now owns 27,146 shares of the financial services provider’s stock worth $474,000 after acquiring an additional 681 shares during the period. Institutional investors and hedge funds own 29.07% of the company’s stock.

BRT Apartments Stock Performance

Shares of BRT traded up $0.45 during trading hours on Tuesday, reaching $18.03. 29,916 shares of the company’s stock traded hands, compared to its average volume of 32,807. The firm has a market capitalization of $336.10 million, a price-to-earnings 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 twelve month low of $15.21 and a twelve month high of $20.12. The business’s fifty day simple moving average is $18.33 and its two-hundred day simple moving average is $17.72.

BRT Apartments (NYSE:BRT) last announced its earnings results on Friday, August 9th. The financial services provider reported ($0.13) earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.50). BRT Apartments had a negative net margin of 9.24% and a negative return on equity of 3.89%. The firm had revenue of $23.86 million for the quarter, compared to the consensus estimate of $23.45 million. During the same period in the prior year, the business earned $0.37 EPS. Analysts predict that BRT Apartments will post 1.42 earnings per share for the current year.

BRT Apartments Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Tuesday, September 24th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, September 24th. This represents a $1.00 annualized dividend and a yield of 5.55%. BRT Apartments’s dividend payout ratio is currently 454.55%.

BRT Apartments Company Profile

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.