BRT Apartments (NYSE:BRT) Stock Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Shares of BRT Apartments Corp. (NYSE:BRT) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $14.49 and traded as high as $15.20. BRT Apartments shares last traded at $15.01, with a volume of 39,609 shares trading hands.

Analysts Set New Price Targets

BRT has been the subject of a number of recent analyst reports. Citigroup reaffirmed a “market outperform” rating on shares of BRT Apartments in a report on Friday, May 29th. Weiss Ratings upgraded BRT Apartments from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday, May 12th. Finally, Wall Street Zen upgraded BRT Apartments from a “sell” rating to a “hold” rating in a research report on Saturday, May 23rd. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.75.

BRT Apartments Stock Performance

The firm’s 50-day moving average price is $14.32 and its 200 day moving average price is $14.49. The company has a debt-to-equity ratio of 3.00, a quick ratio of 2.14 and a current ratio of 2.14. The company has a market cap of $282.49 million, a price-to-earnings ratio of -23.09 and a beta of 0.86.

BRT Apartments (NYSE:BRT) last posted its quarterly earnings results on Thursday, May 7th. The financial services provider reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.20) by $0.06. BRT Apartments had a negative return on equity of 6.77% and a negative net margin of 12.59%.The business had revenue of $24.61 million for the quarter, compared to analyst estimates of $24.28 million.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. boosted its position in shares of BRT Apartments by 725.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,751 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 1,539 shares during the last quarter. Osaic Holdings Inc. boosted its position in shares of BRT Apartments by 111.8% in the 2nd quarter. Osaic Holdings Inc. now owns 1,809 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 955 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its position in shares of BRT Apartments by 1,171.8% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 2,073 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 1,910 shares during the last quarter. Strs Ohio bought a new position in shares of BRT Apartments in the 1st quarter worth $39,000. Finally, BNP Paribas Financial Markets boosted its position in shares of BRT Apartments by 388.9% in the 2nd quarter. BNP Paribas Financial Markets now owns 3,139 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 2,497 shares during the last quarter. 29.07% of the stock is currently owned by institutional investors.

About BRT Apartments

BRT Apartments Corp. is an equity real estate investment trust (REIT) that acquires, owns and operates multi-family residential properties. The company targets mid-market apartment communities and seeks value-add opportunities through renovations, operational efficiencies and active asset management. Its investment strategy is focused on generating stable, long-term rental income and potential capital appreciation from its portfolio of rental properties.

Established in 2013, BRT Apartments Corp.