B. Riley Weighs in on BRT Apartments Corp.’s Q1 2024 Earnings (NYSE:BRT)

BRT Apartments Corp. (NYSE:BRT) – B. Riley issued their Q1 2024 EPS estimates for BRT Apartments in a research report issued to clients and investors on Wednesday, April 10th. B. Riley analyst J. Massocca anticipates that the financial services provider will earn $0.27 per share for the quarter. B. Riley has a “Buy” rating and a $19.50 price objective on the stock. The consensus estimate for BRT Apartments’ current full-year earnings is $1.20 per share. B. Riley also issued estimates for BRT Apartments’ Q2 2024 earnings at $0.29 EPS, Q3 2024 earnings at $0.29 EPS, Q4 2024 earnings at $0.34 EPS and FY2024 earnings at $1.20 EPS.

Separately, JMP Securities lowered their price target on shares of BRT Apartments from $28.00 to $24.00 and set an “outperform” rating on the stock in a research report on Thursday, March 14th.

BRT Apartments Trading Up 2.1 %

Shares of BRT opened at $17.64 on Monday. The firm’s 50-day moving average is $16.31 and its two-hundred day moving average is $17.26. The firm has a market capitalization of $327.75 million, a P/E ratio of 98.01 and a beta of 1.15. BRT Apartments has a twelve month low of $15.21 and a twelve month high of $20.69. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 2.01.

BRT Apartments Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Wednesday, March 27th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 5.67%. The ex-dividend date of this dividend was Tuesday, March 26th. BRT Apartments’s payout ratio is 555.59%.

Insider Activity at BRT Apartments

In other news, CEO Jeffrey Gould acquired 4,275 shares of BRT Apartments stock in a transaction that occurred on Monday, March 25th. The shares were acquired at an average price of $16.48 per share, with a total value of $70,452.00. Following the completion of the purchase, the chief executive officer now owns 3,536,673 shares of the company’s stock, valued at approximately $58,284,371.04. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, major shareholder Investors L. P. Gould purchased 3,471 shares of the business’s stock in a transaction on Thursday, March 21st. The shares were bought at an average price of $16.26 per share, with a total value of $56,438.46. Following the completion of the purchase, the insider now directly owns 3,532,398 shares in the company, valued at approximately $57,436,791.48. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jeffrey Gould purchased 4,275 shares of the business’s stock in a transaction on Monday, March 25th. The shares were bought at an average cost of $16.48 per share, for a total transaction of $70,452.00. Following the purchase, the chief executive officer now owns 3,536,673 shares of the company’s stock, valued at $58,284,371.04. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 65,587 shares of company stock valued at $1,078,897. Company insiders own 38.30% of the company’s stock.

Hedge Funds Weigh In On BRT Apartments

A number of large investors have recently bought and sold shares of BRT. Metropolitan Life Insurance Co NY raised its stake in BRT Apartments by 83.9% during the first quarter. Metropolitan Life Insurance Co NY now owns 1,392 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 635 shares during the period. Orion Capital Management LLC purchased a new position in shares of BRT Apartments in the 3rd quarter valued at $35,000. Barclays PLC raised its stake in shares of BRT Apartments by 166.9% in the 4th quarter. Barclays PLC now owns 3,230 shares of the financial services provider’s stock valued at $64,000 after acquiring an additional 2,020 shares during the period. Citigroup Inc. raised its stake in shares of BRT Apartments by 13,260.7% in the 2nd quarter. Citigroup Inc. now owns 3,741 shares of the financial services provider’s stock valued at $74,000 after acquiring an additional 3,713 shares during the period. Finally, State of Alaska Department of Revenue raised its stake in shares of BRT Apartments by 18.6% in the 3rd quarter. State of Alaska Department of Revenue now owns 5,555 shares of the financial services provider’s stock valued at $95,000 after acquiring an additional 871 shares during the period. Hedge funds and other institutional investors own 29.07% of the company’s stock.

About BRT Apartments

BRT is a real estate investment trust that owns, operates and, to a lesser extent, holds interests in joint ventures that own multi-family properties. As of December 31, 2023, BRT owns or has interests in 28 multi-family properties with 7,707 units in 11 states.