BRT Apartments Corp. (NYSE:BRT) Announces Quarterly Dividend of $0.25

BRT Apartments Corp. (NYSE:BRT) declared a quarterly dividend on Tuesday, March 11th, RTT News reports. Stockholders of record on Thursday, March 27th will be paid a dividend of 0.25 per share by the financial services provider on Friday, April 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.57%.

BRT Apartments has increased its dividend payment by an average of 3.6% annually over the last three years. BRT Apartments has a payout ratio of -222.2% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect BRT Apartments to earn $1.45 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 69.0%.

BRT Apartments Price Performance

NYSE BRT traded down $0.17 on Wednesday, hitting $17.94. The company had a trading volume of 4,682 shares, compared to its average volume of 21,606. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.94 and a quick ratio of 1.94. The company has a market capitalization of $337.38 million, a PE ratio of -33.85 and a beta of 1.11. BRT Apartments has a 12-month low of $15.47 and a 12-month high of $20.22. The company’s fifty day moving average price is $17.57 and its 200-day moving average price is $18.02.

Wall Street Analyst Weigh In

Separately, B. Riley upped their price target on shares of BRT Apartments from $21.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th.

BRT Apartments Company Profile

BRT Apartments Corp. is a real estate investment trust. It engages in the ownership, operation, and holding interests in joint ventures that own and operate multi-family properties. The company was founded in June 1972 and is headquartered in Great Neck, NY.