BRT Apartments (NYSE:BRT) Shares Pass Above 200 Day Moving Average – What’s Next?

BRT Apartments Corp. (NYSE:BRT)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $14.56 and traded as high as $15.04. BRT Apartments shares last traded at $14.89, with a volume of 30,746 shares trading hands.

Wall Street Analysts Forecast Growth

Several brokerages have commented on BRT. Weiss Ratings upgraded shares of BRT Apartments from a “sell (d)” rating to a “sell (d+)” rating in a research report on Monday, July 6th. Wall Street Zen upgraded shares of BRT Apartments from a “sell” rating to a “hold” rating in a report on Saturday, May 23rd. Zacks Research raised shares of BRT Apartments to a “hold” rating in a report on Monday, July 13th. Finally, Citigroup reissued a “market outperform” rating on shares of BRT Apartments in a report on Friday, May 29th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, BRT Apartments presently has an average rating of “Hold” and an average target price of $19.75.

BRT Apartments Stock Performance

The firm has a fifty day moving average of $14.79 and a 200-day moving average of $14.56. The company has a quick ratio of 2.14, a current ratio of 2.14 and a debt-to-equity ratio of 3.00. The stock has a market capitalization of $280.23 million, a price-to-earnings ratio of -22.91 and a beta of 0.85.

BRT Apartments (NYSE:BRT) last posted its earnings results on Thursday, May 7th. The financial services provider reported ($0.14) earnings per share for the quarter, beating 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 for the quarter, compared to analyst estimates of $24.28 million. As a group, sell-side analysts anticipate that BRT Apartments Corp. will post 1.5 EPS for the current year.

BRT Apartments Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 9th. Investors of record on Thursday, June 25th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 6.7%. The ex-dividend date of this dividend was Thursday, June 25th. BRT Apartments’s dividend payout ratio is presently -153.85%.

Hedge Funds Weigh In On BRT Apartments

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Root Financial Partners LLC acquired a new position in shares of BRT Apartments during the 4th quarter worth approximately $763,000. Silverberg Bernstein Capital Management LLC raised its stake in BRT Apartments by 14.9% in the 1st quarter. Silverberg Bernstein Capital Management LLC now owns 155,725 shares of the financial services provider’s stock valued at $2,077,000 after purchasing an additional 20,170 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its holdings in 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 valued at $30,000 after purchasing an additional 1,910 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in shares of BRT Apartments by 725.9% during 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. Finally, Osaic Holdings Inc. boosted its stake in shares of BRT Apartments by 111.8% during 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. Institutional investors and hedge funds own 29.07% of the company’s stock.

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.