BRT Apartments Corp. (NYSE:BRT) Shares Bought by Wealth Alliance

Wealth Alliance boosted its stake in shares of BRT Apartments Corp. (NYSE:BRT) by 2.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 27,146 shares of the financial services provider’s stock after acquiring an additional 681 shares during the quarter. Wealth Alliance owned 0.15% of BRT Apartments worth $474,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in BRT. Meeder Asset Management Inc. purchased a new stake in shares of BRT Apartments in the second quarter valued at approximately $28,000. BNP Paribas Financial Markets grew its holdings in shares of BRT Apartments by 187.0% in the first quarter. BNP Paribas Financial Markets now owns 8,263 shares of the financial services provider’s stock valued at $139,000 after purchasing an additional 5,384 shares during the period. Clear Creek Financial Management LLC grew its position in BRT Apartments by 4.7% in the second quarter. Clear Creek Financial Management LLC now owns 15,021 shares of the financial services provider’s stock worth $262,000 after acquiring an additional 680 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of BRT Apartments by 9.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 20,466 shares of the financial services provider’s stock worth $344,000 after purchasing an additional 1,726 shares during the last quarter. Finally, ClariVest Asset Management LLC increased its position in shares of BRT Apartments by 2.9% during the second quarter. ClariVest Asset Management LLC now owns 44,767 shares of the financial services provider’s stock valued at $782,000 after acquiring an additional 1,251 shares during the last quarter. 29.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, B. Riley boosted their price target on shares of BRT Apartments from $20.50 to $21.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th.

BRT Apartments Stock Down 0.1 %

Shares of NYSE:BRT opened at $18.96 on Friday. BRT Apartments Corp. has a fifty-two week low of $15.21 and a fifty-two week high of $20.12. The firm’s 50 day moving average price is $18.37 and its 200 day moving average price is $17.59. The stock has a market cap of $353.43 million, a price-to-earnings ratio of 86.18, a price-to-earnings-growth ratio of 2.02 and a beta of 1.07. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 2.14.

BRT Apartments (NYSE:BRT) last issued its earnings results on Friday, August 9th. The financial services provider reported ($0.13) earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.50). The business had revenue of $23.86 million for the quarter, compared to analyst estimates of $23.45 million. BRT Apartments had a negative return on equity of 3.89% and a negative net margin of 9.24%. During the same period last year, the business posted $0.37 EPS. As a group, equities research analysts predict that BRT Apartments Corp. will post 1.5 earnings per share for the current fiscal year.

BRT Apartments Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Tuesday, September 24th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 5.27%. The ex-dividend date of this dividend is Tuesday, September 24th. BRT Apartments’s payout ratio is currently 454.55%.

BRT Apartments Profile

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.