BRT Apartments Corp. (NYSE:BRT) Plans $0.25 Quarterly Dividend

BRT Apartments Corp. (NYSE:BRT) declared a quarterly dividend on Tuesday, March 11th, RTT News reports. Stockholders of record on Thursday, March 27th will be given a dividend of 0.25 per share by the financial services provider on Friday, April 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.67%.

BRT Apartments has raised its dividend payment by an average of 3.6% per year over the last three years. BRT Apartments has a payout ratio of -222.2% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect BRT Apartments to earn $1.45 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 69.0%.

BRT Apartments Price Performance

BRT traded up $0.07 during trading hours on Tuesday, hitting $17.65. The company’s stock had a trading volume of 29,660 shares, compared to its average volume of 21,655. BRT Apartments has a 12 month low of $15.47 and a 12 month high of $20.22. The company has a current ratio of 1.94, a quick ratio of 1.94 and a debt-to-equity ratio of 2.31. The business’s 50-day moving average price is $17.58 and its 200-day moving average price is $18.02. The stock has a market cap of $331.83 million, a price-to-earnings ratio of -33.29 and a beta of 1.11.

Analysts Set New Price Targets

Separately, B. Riley upped their target price on shares of BRT Apartments from $21.00 to $22.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th.

BRT Apartments Company Profile

BRT Apartments Corp. is a real estate investment trust. It engages in the ownership, operation, and holding interests in joint ventures that own and operate multi-family properties. The company was founded in June 1972 and is headquartered in Great Neck, NY.