BRT Apartments Corp. (NYSE:BRT) Stock Holdings Trimmed by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lowered its holdings in shares of BRT Apartments Corp. (NYSE:BRT) by 32.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 174,132 shares of the financial services provider’s stock after selling 83,368 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.93% of BRT Apartments worth $3,042,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. ClariVest Asset Management LLC raised its stake in 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 valued at $782,000 after acquiring an additional 1,251 shares in the last quarter. Bank of New York Mellon Corp raised its stake in 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 valued at $1,699,000 after acquiring an additional 5,207 shares in the last quarter. Clear Creek Financial Management LLC raised its stake in BRT Apartments by 4.7% during the 2nd quarter. Clear Creek Financial Management LLC now owns 15,021 shares of the financial services provider’s stock valued at $262,000 after acquiring an additional 680 shares in the last quarter. Vanguard Group Inc. raised its stake in BRT Apartments by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 616,467 shares of the financial services provider’s stock valued at $10,357,000 after acquiring an additional 9,483 shares in the last quarter. Finally, Oppenheimer & Close LLC raised its stake in BRT Apartments by 3.4% during the 1st quarter. Oppenheimer & Close LLC now owns 347,774 shares of the financial services provider’s stock valued at $5,843,000 after acquiring an additional 11,287 shares in the last quarter. Institutional investors own 29.07% of the company’s stock.

BRT Apartments Stock Down 1.0 %

Shares of BRT stock opened at $18.89 on Wednesday. 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 stock has a market cap of $352.13 million, a PE ratio of 85.86, a price-to-earnings-growth ratio of 2.02 and a beta of 1.07. The business’s fifty day moving average is $18.30 and its 200-day moving average is $17.57. BRT Apartments Corp. has a 1 year low of $15.21 and a 1 year high of $20.12.

BRT Apartments (NYSE:BRT) last issued its earnings results on Friday, August 9th. The financial services provider reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.50). The company had revenue of $23.86 million during 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 quarter in the previous year, the firm earned $0.37 earnings per share. Equities analysts expect that BRT Apartments Corp. will post 1.5 earnings per share for the current fiscal year.

BRT Apartments Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Tuesday, September 24th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.29%. The ex-dividend date of this dividend is Tuesday, September 24th. BRT Apartments’s payout ratio is 454.55%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on BRT. B. Riley lifted their price target on BRT Apartments from $20.50 to $21.00 and gave the company a “buy” rating in a research report on Thursday, September 12th. JMP Securities reiterated a “market outperform” rating and set a $24.00 price target on shares of BRT Apartments in a research report on Tuesday, May 21st.

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.