BRT Apartments (NYSE:BRT) Lowered to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of BRT Apartments (NYSE:BRT) from a strong-buy rating to a hold rating in a report published on Wednesday, Zacks.com reports.

According to Zacks, “BRT is a real estate investment trust. BRT’s primary business activity is to originate and hold for investment for its own account, senior real estate mortgage loans secured by income producing real property and, to a lesser extent, junior real estate mortgage loans secured by income producing real property and senior mortgage loans secured by undeveloped real property. “

Separately, ValuEngine cut shares of BRT Apartments from a hold rating to a sell rating in a report on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $16.50.

NYSE BRT traded up $0.21 on Wednesday, hitting $17.88. 2,337 shares of the stock were exchanged, compared to its average volume of 31,998. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 3.22. BRT Apartments has a fifty-two week low of $12.39 and a fifty-two week high of $18.75. The company has a market cap of $280.80 million, a PE ratio of 18.43 and a beta of 0.78. The company has a 50-day moving average price of $17.59 and a 200-day moving average price of $15.56.

BRT Apartments (NYSE:BRT) last issued its earnings results on Wednesday, November 6th. The financial services provider reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.01). BRT Apartments had a net margin of 2.15% and a return on equity of 0.99%. The company had revenue of $34.04 million during the quarter, compared to analyst estimates of $32.66 million. As a group, equities research analysts predict that BRT Apartments will post 0.74 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 7th. Investors of record on Friday, December 20th were given a $0.22 dividend. This is an increase from BRT Apartments’s previous quarterly dividend of $0.20. The ex-dividend date was Thursday, December 19th. This represents a $0.88 annualized dividend and a yield of 4.92%. BRT Apartments’s dividend payout ratio is 90.72%.

A number of hedge funds have recently added to or reduced their stakes in BRT. Wells Fargo & Company MN raised its position in BRT Apartments by 4.7% in the 2nd quarter. Wells Fargo & Company MN now owns 21,807 shares of the financial services provider’s stock valued at $308,000 after purchasing an additional 971 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in BRT Apartments by 8.5% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 24,100 shares of the financial services provider’s stock worth $341,000 after buying an additional 1,897 shares during the last quarter. Bank of New York Mellon Corp raised its position in BRT Apartments by 1.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 134,677 shares of the financial services provider’s stock worth $1,903,000 after buying an additional 2,457 shares during the last quarter. Renaissance Technologies LLC raised its position in BRT Apartments by 1.5% during the 2nd quarter. Renaissance Technologies LLC now owns 574,042 shares of the financial services provider’s stock worth $8,111,000 after buying an additional 8,568 shares during the last quarter. Finally, Northern Trust Corp raised its position in BRT Apartments by 2.9% during the 2nd quarter. Northern Trust Corp now owns 140,111 shares of the financial services provider’s stock worth $1,980,000 after buying an additional 3,965 shares during the last quarter. Hedge funds and other institutional investors own 31.37% of the company’s stock.

About BRT Apartments

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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