Short Interest in BRT Apartments Corp. (NYSE:BRT) Drops By 9.4%

BRT Apartments Corp. (NYSE:BRT) saw a large drop in short interest in the month of September. As of September 15th, there was short interest totalling 90,100 shares, a drop of 9.4% from the August 31st total of 99,500 shares. Based on an average daily trading volume, of 27,100 shares, the days-to-cover ratio is currently 3.3 days. Currently, 0.8% of the company’s shares are short sold.

Institutional Trading of BRT Apartments

Hedge funds have recently bought and sold shares of the business. BNP Paribas Financial Markets boosted its holdings in BRT Apartments by 187.0% during the 1st quarter. BNP Paribas Financial Markets now owns 8,263 shares of the financial services provider’s stock worth $139,000 after acquiring an additional 5,384 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake 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 period. Vanguard Group Inc. raised its stake in shares of BRT Apartments by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 616,467 shares of the financial services provider’s stock worth $10,357,000 after purchasing an additional 9,483 shares during the period. ClariVest Asset Management LLC raised its stake in shares of BRT Apartments by 2.9% during the 2nd quarter. ClariVest Asset Management LLC now owns 44,767 shares of the financial services provider’s stock worth $782,000 after purchasing an additional 1,251 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of BRT Apartments by 5.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 97,281 shares of the financial services provider’s stock worth $1,699,000 after purchasing an additional 5,207 shares during the period. Institutional investors and hedge funds own 29.07% of the company’s stock.

Analysts Set New Price Targets

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

BRT Apartments Trading Up 0.7 %

Shares of BRT stock traded up $0.12 during trading hours on Friday, hitting $17.84. 11,330 shares of the company were exchanged, compared to its average volume of 32,849. The company has a 50 day simple moving average of $18.35 and a two-hundred day simple moving average of $17.70. BRT Apartments has a fifty-two week low of $15.21 and a fifty-two week high of $20.12. The company has a debt-to-equity ratio of 2.14, a quick ratio of 0.90 and a current ratio of 0.90. The firm has a market cap of $332.56 million, a P/E ratio of 81.09, a P/E/G ratio of 2.16 and a beta of 1.07.

BRT Apartments (NYSE:BRT) last posted its quarterly earnings results on Friday, August 9th. The financial services provider reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.50). BRT Apartments had a negative net margin of 9.24% and a negative return on equity of 3.89%. The business had revenue of $23.86 million during the quarter, compared to analyst estimates of $23.45 million. During the same period in the previous year, the business posted $0.37 EPS. Equities analysts anticipate that BRT Apartments will post 1.42 EPS for the current year.

BRT Apartments Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Tuesday, September 24th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 5.61%. The ex-dividend date of this dividend is Tuesday, September 24th. BRT Apartments’s payout ratio is currently 454.55%.

BRT Apartments Company 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.