BRT Apartments (NYSE:BRT) Stock Passes Above 200 Day Moving Average – Here’s What Happened

BRT Apartments Corp. (NYSE:BRT)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $14.51 and traded as high as $14.89. BRT Apartments shares last traded at $14.7780, with a volume of 77,346 shares.

Analyst Upgrades and Downgrades

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

BRT Apartments Price Performance

The company has a debt-to-equity ratio of 3.00, a current ratio of 2.14 and a quick ratio of 2.14. The company has a market capitalization of $278.12 million, a PE ratio of -22.74 and a beta of 0.86. The firm has a 50-day moving average of $14.47 and a 200 day moving average of $14.51.

BRT Apartments (NYSE:BRT) last released its quarterly earnings data on Thursday, May 7th. The financial services provider reported ($0.14) 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 company had revenue of $24.61 million during the quarter, compared to the consensus estimate of $24.28 million.

BRT Apartments Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Stockholders of record on Thursday, June 25th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.8%. The ex-dividend date of this dividend is Thursday, June 25th. BRT Apartments’s dividend payout ratio (DPR) is presently -153.85%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BRT. Oppenheimer & Close LLC lifted its position in BRT Apartments by 9.9% during the fourth quarter. Oppenheimer & Close LLC now owns 377,672 shares of the financial services provider’s stock valued at $5,552,000 after purchasing an additional 33,913 shares during the period. Geode Capital Management LLC grew its position in BRT Apartments by 0.6% in the 2nd quarter. Geode Capital Management LLC now owns 289,073 shares of the financial services provider’s stock worth $4,522,000 after purchasing an additional 1,837 shares during the period. State Street Corp grew its position in BRT Apartments by 3.3% in the 4th quarter. State Street Corp now owns 256,769 shares of the financial services provider’s stock worth $3,837,000 after purchasing an additional 8,226 shares during the period. Permanens Capital L.P. raised its stake in BRT Apartments by 21.4% during the 3rd quarter. Permanens Capital L.P. now owns 201,263 shares of the financial services provider’s stock valued at $3,192,000 after buying an additional 35,415 shares during the last quarter. Finally, Stifel Financial Corp raised its stake in BRT Apartments by 26.4% during the 4th quarter. Stifel Financial Corp now owns 169,390 shares of the financial services provider’s stock valued at $2,490,000 after buying an additional 35,420 shares during the last quarter. Institutional investors own 29.07% of the company’s stock.

BRT Apartments Company Profile

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.