Short Interest in BRT Apartments Corp. (NYSE:BRT) Expands By 120.7%

BRT Apartments Corp. (NYSE:BRT) was the recipient of a large growth in short interest in the month of November. As of November 30th, there was short interest totalling 232,000 shares, a growth of 120.7% from the November 15th total of 105,100 shares. Based on an average trading volume of 42,800 shares, the short-interest ratio is currently 5.4 days. Approximately 2.1% of the shares of the stock are short sold.

BRT Apartments Trading Up 0.1 %

Shares of BRT Apartments stock opened at $18.76 on Friday. The firm has a market capitalization of $352.88 million, a PE ratio of -35.40, a P/E/G ratio of 2.23 and a beta of 1.11. BRT Apartments has a twelve month low of $15.21 and a twelve month high of $20.22. The firm’s 50-day moving average price is $18.24 and its 200 day moving average price is $18.05. 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 issued its quarterly earnings results on Thursday, November 7th. The financial services provider reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.47). The company 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 business posted $0.41 earnings per share. On average, sell-side analysts predict that BRT Apartments will post 1.42 EPS for the current fiscal year.

BRT Apartments Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Monday, December 23rd will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 5.33%. The ex-dividend date of this dividend is Monday, December 23rd. BRT Apartments’s dividend payout ratio (DPR) is -188.68%.

Wall Street Analysts Forecast Growth

Separately, B. Riley raised their price target on shares of BRT Apartments from $21.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Meeder Asset Management Inc. purchased a new position in BRT Apartments in the 2nd quarter worth approximately $28,000. Noesis Capital Mangement Corp purchased a new position in BRT Apartments in the 3rd quarter worth approximately $176,000. Barclays PLC lifted its stake in BRT Apartments by 295.2% in the 3rd quarter. Barclays PLC now owns 14,690 shares of the financial services provider’s stock worth $258,000 after purchasing an additional 10,973 shares in the last quarter. Clear Creek Financial Management LLC lifted its stake in 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. Finally, Tidal Investments LLC purchased a new position in BRT Apartments in the 3rd quarter worth approximately $320,000. 29.07% of the stock is owned by hedge funds and other institutional investors.

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.