BRT Realty Trust (NYSE:BRT) declared a quarterly dividend on Wednesday, December 6th, Wall Street Journal reports. Shareholders of record on Friday, December 22nd will be given a dividend of 0.18 per share by the financial services provider on Friday, January 5th. This represents a $0.72 annualized dividend and a yield of 6.47%. The ex-dividend date of this dividend is Thursday, December 21st.

BRT Realty Trust (BRT) traded up $0.06 on Wednesday, reaching $11.13. 25,900 shares of the company’s stock traded hands, compared to its average volume of 10,030. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 3.11. The company has a market cap of $155.26, a PE ratio of 16.77 and a beta of 0.22. BRT Realty Trust has a 1-year low of $7.36 and a 1-year high of $11.13.

BRT Realty Trust declared that its Board of Directors has authorized a stock buyback program on Tuesday, September 12th that allows the company to repurchase $5.00 million in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 3.6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.

Several brokerages have recently weighed in on BRT. B. Riley reiterated a “buy” rating on shares of BRT Realty Trust in a research note on Wednesday, November 1st. TheStreet upgraded shares of BRT Realty Trust from a “d+” rating to a “c-” rating in a research note on Tuesday, September 26th. Janney Montgomery Scott began coverage on shares of BRT Realty Trust in a research note on Friday, September 29th. They issued a “neutral” rating and a $10.50 price objective on the stock. Finally, FBR & Co began coverage on shares of BRT Realty Trust in a research note on Thursday, October 26th. They issued a “buy” rating and a $11.75 price objective on the stock.

A hedge fund recently raised its stake in BRT Realty Trust stock. Northern Trust Corp increased its position in BRT Realty Trust (NYSE:BRT) by 2.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 54,555 shares of the financial services provider’s stock after acquiring an additional 1,200 shares during the quarter. Northern Trust Corp owned about 0.39% of BRT Realty Trust worth $429,000 at the end of the most recent quarter. Institutional investors and hedge funds own 22.06% of the company’s stock.

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About BRT Realty Trust

BRT Apartments Corp. is a real estate investment trust (REIT). The Trust is focused on the ownership, operation and development of multi-family properties. These activities are primarily conducted through joint ventures in which the Trust has an equity interest in the entity owning the property. The Trust’s segments include Multi-Family Real Estate and Other Assets.

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