BRT Apartments Corp. (NYSE:BRT) Short Interest Update

BRT Apartments Corp. (NYSE:BRT) was the target of a significant growth in short interest in the month of August. As of August 31st, there was short interest totalling 99,500 shares, a growth of 22.2% from the August 15th total of 81,400 shares. Currently, 0.9% of the company’s stock are sold short. Based on an average daily trading volume, of 27,500 shares, the days-to-cover ratio is currently 3.6 days.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. JMP Securities reaffirmed a “market outperform” rating and set a $24.00 target price on shares of BRT Apartments in a research note on Tuesday, May 21st. B. Riley lifted their price objective on BRT Apartments from $20.50 to $21.00 and gave the company a “buy” rating in a research note on Thursday, September 12th.

BRT Apartments Stock Down 0.7 %

BRT stock traded down $0.13 during trading on Tuesday, hitting $18.95. 12,943 shares of the stock traded hands, compared to its average volume of 32,846. The company has a debt-to-equity ratio of 2.14, a current ratio of 0.90 and a quick ratio of 0.90. The stock has a market cap of $353.25 million, a price-to-earnings ratio of 86.73, a price-to-earnings-growth ratio of 2.02 and a beta of 1.07. BRT Apartments has a 1 year low of $15.21 and a 1 year high of $20.12. The firm’s 50 day moving average is $18.26 and its two-hundred day moving average is $17.55.

BRT Apartments (NYSE:BRT) last posted its quarterly earnings results on Friday, August 9th. The financial services provider reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.50). BRT Apartments had a negative net margin of 9.24% and a negative return on equity of 3.89%. The firm had revenue of $23.86 million for the quarter, compared to analysts’ expectations of $23.45 million. During the same quarter in the previous year, the company earned $0.37 EPS. On average, sell-side analysts anticipate that BRT Apartments will post 1.5 EPS for the current year.

BRT Apartments Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Tuesday, September 24th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.28%. The ex-dividend date is Tuesday, September 24th. BRT Apartments’s payout ratio is 454.55%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of BRT. Wealth Alliance boosted its holdings in shares of BRT Apartments by 2.6% in the second quarter. Wealth Alliance now owns 27,146 shares of the financial services provider’s stock worth $474,000 after buying an additional 681 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of BRT Apartments by 2.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 157,884 shares of the financial services provider’s stock valued at $2,758,000 after acquiring an additional 3,552 shares during the period. Meeder Asset Management Inc. purchased a new stake in shares of BRT Apartments in the 2nd quarter worth $28,000. ClariVest Asset Management LLC raised its holdings in BRT Apartments by 2.9% in the 2nd quarter. ClariVest Asset Management LLC now owns 44,767 shares of the financial services provider’s stock worth $782,000 after purchasing an additional 1,251 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in BRT Apartments by 5.7% during the second quarter. Bank of New York Mellon Corp now owns 97,281 shares of the financial services provider’s stock valued at $1,699,000 after purchasing an additional 5,207 shares in the last quarter. Hedge funds and other institutional investors own 29.07% of the company’s stock.

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.