BRT Apartments (NYSE:BRT) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of BRT Apartments (NYSE:BRT) from a strong-buy rating to a hold rating in a research report report published on Monday, 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. “

Several other research analysts have also recently weighed in on BRT. TheStreet upgraded shares of BRT Apartments from a d+ rating to a c- rating in a report on Tuesday, March 23rd. B. Riley boosted their target price on shares of BRT Apartments from $16.50 to $19.00 and gave the company a neutral rating in a research note on Monday, May 17th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. BRT Apartments currently has an average rating of Hold and an average target price of $21.25.

NYSE:BRT opened at $18.03 on Monday. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.98. The stock’s 50-day simple moving average is $17.87. The company has a market capitalization of $317.02 million, a P/E ratio of -16.39 and a beta of 1.25. BRT Apartments has a one year low of $10.04 and a one year high of $21.70.

BRT Apartments (NYSE:BRT) last posted its earnings results on Wednesday, May 5th. The financial services provider reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.07). BRT Apartments had a negative return on equity of 10.33% and a negative net margin of 66.47%. As a group, equities research analysts predict that BRT Apartments will post 1.04 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, July 9th. Shareholders of record on Friday, June 25th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 4.88%. The ex-dividend date was Thursday, June 24th. BRT Apartments’s payout ratio is 78.57%.

In other news, EVP Mitchell Gould sold 3,236 shares of the business’s stock in a transaction that occurred on Wednesday, June 2nd. The shares were sold at an average price of $18.63, for a total value of $60,286.68. Following the sale, the executive vice president now owns 175,590 shares of the company’s stock, valued at $3,271,241.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Ryan Baltimore sold 3,264 shares of the business’s stock in a transaction that occurred on Friday, June 11th. The shares were sold at an average price of $17.60, for a total transaction of $57,446.40. Following the completion of the sale, the senior vice president now directly owns 62,639 shares in the company, valued at approximately $1,102,446.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,100 shares of company stock worth $128,917. Corporate insiders own 38.50% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of BRT. Goldman Sachs Group Inc. raised its position in shares of BRT Apartments by 222.6% in the first quarter. Goldman Sachs Group Inc. now owns 95,582 shares of the financial services provider’s stock valued at $1,610,000 after purchasing an additional 65,957 shares during the period. BlackRock Inc. increased its holdings in BRT Apartments by 5.0% during the 4th quarter. BlackRock Inc. now owns 1,031,942 shares of the financial services provider’s stock worth $15,686,000 after acquiring an additional 49,488 shares during the period. JPMorgan Chase & Co. increased its holdings in BRT Apartments by 42.4% during the 4th quarter. JPMorgan Chase & Co. now owns 68,967 shares of the financial services provider’s stock worth $1,048,000 after acquiring an additional 20,519 shares during the period. Avantax Advisory Services Inc. increased its holdings in BRT Apartments by 17.9% during the 1st quarter. Avantax Advisory Services Inc. now owns 131,271 shares of the financial services provider’s stock worth $2,213,000 after acquiring an additional 19,887 shares during the period. Finally, Relative Value Partners Group LLC increased its holdings in BRT Apartments by 11.8% during the 1st quarter. Relative Value Partners Group LLC now owns 169,426 shares of the financial services provider’s stock worth $2,889,000 after acquiring an additional 17,918 shares during the period. 29.40% of the stock is currently owned by institutional investors.

BRT Apartments Company Profile

BRT is a real estate investment trust that owns, operates and develops multi-family properties.

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