Bard Associates Inc. Decreases Stock Holdings in BRT Apartments Corp. (NYSE:BRT)

Bard Associates Inc. lessened its stake in BRT Apartments Corp. (NYSE:BRT) by 1.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 119,652 shares of the financial services provider’s stock after selling 1,300 shares during the period. Bard Associates Inc. owned 0.64% of BRT Apartments worth $2,133,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. bought a new position in shares of BRT Apartments during the 2nd quarter worth approximately $28,000. BNP Paribas Financial Markets lifted its holdings in shares of 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 valued at $139,000 after purchasing an additional 5,384 shares during the last quarter. Clear Creek Financial Management LLC boosted its position in shares of BRT Apartments by 4.7% in the 2nd quarter. Clear Creek Financial Management LLC now owns 15,021 shares of the financial services provider’s stock worth $262,000 after purchasing an additional 680 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake 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 buying an additional 1,726 shares during the last quarter. Finally, Wealth Alliance grew its stake in shares of BRT Apartments by 2.6% during the second 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 last quarter. Hedge funds and other institutional investors own 29.07% of the company’s stock.

BRT Apartments Stock Performance

NYSE:BRT opened at $18.46 on Friday. The company’s fifty day moving average price is $17.78 and its 200-day moving average price is $17.84. BRT Apartments Corp. has a 1-year low of $15.21 and a 1-year high of $20.12. The company has a current ratio of 1.94, a quick ratio of 1.94 and a debt-to-equity ratio of 2.31.

BRT Apartments (NYSE:BRT) last announced its quarterly earnings data on Thursday, November 7th. The financial services provider reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.47). The firm had revenue of $24.40 million during the quarter, compared to analysts’ expectations of $23.80 million. BRT Apartments had a negative net margin of 9.94% and a negative return on equity of 4.33%. During the same period in the prior year, the company posted $0.41 earnings per share. As a group, analysts anticipate that BRT Apartments Corp. will post 1.42 EPS for the current year.

BRT Apartments Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 2nd. Stockholders of record on Tuesday, September 24th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, September 24th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.42%. BRT Apartments’s dividend payout ratio (DPR) is -188.68%.

Wall Street Analysts Forecast Growth

Separately, B. Riley lifted their price objective on shares of BRT Apartments from $20.50 to $21.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th.

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.