Key Points
- Director Alan Ginsburg sold 50,129 BRT Apartments shares at an average price of $13.43, generating approximately $673,232 and reducing his direct stake by 66.9% to 24,800 shares.
- BRT stock opened at $13.36, while the company maintains a quarterly dividend of $0.25, equivalent to a 7.5% annualized yield. Its latest quarterly results modestly exceeded analysts’ estimates, though the company reported negative net margin and return on equity.
- Institutional ownership stands at 29.07%, with BlackRock and other investors establishing positions. Analyst sentiment is mixed, resulting in an overall “Hold” rating and an average price target of $20.00.
BRT Apartments Corp. (NYSE:BRT - Get Free Report) Director Alan Ginsburg sold 50,129 shares of the firm's stock in a transaction dated Friday, October 16th. The stock was sold at an average price of $13.43, for a total value of $673,232.47. Following the completion of the transaction, the director directly owned 24,800 shares in the company, valued at $333,064. This trade represents a 66.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
BRT Apartments Stock Up 2.0%
BRT stock opened at $13.36 on Wednesday. The business's 50-day moving average price is $14.01 and its 200-day moving average price is $14.40. The stock has a market cap of $250.94 million, a P/E ratio of 9.03 and a beta of 0.86. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 3.16. BRT Apartments Corp. has a twelve month low of $13.09 and a twelve month high of $15.63.
BRT Apartments (NYSE:BRT - Get Free Report) last released its earnings results on Monday, August 10th. The financial services provider reported ($0.19) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.20) by $0.01. BRT Apartments had a negative net margin of 13.22% and a negative return on equity of 7.46%. The company had revenue of $24.47 million during the quarter, compared to analyst estimates of $24.36 million. On average, equities research analysts forecast that BRT Apartments Corp. will post 1.46 EPS for the current year.
BRT Apartments Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Tuesday, October 6th. Shareholders of record on Monday, September 28th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 7.5%. The ex-dividend date was Monday, September 28th. BRT Apartments's dividend payout ratio is presently -142.86%.
Institutional Trading of BRT Apartments
Several institutional investors have recently made changes to their positions in the business. BlackRock Inc. bought a new stake in BRT Apartments during the 2nd quarter valued at approximately $16,311,000. Bank of New York Mellon Corp purchased a new position in BRT Apartments in the 2nd quarter worth approximately $1,336,000. Capital Square LLC bought a new position in BRT Apartments in the 2nd quarter worth approximately $309,000. Odyssean LLC bought a new position in BRT Apartments in the 2nd quarter worth approximately $207,000. Finally, Bank of America Corp DE bought a new position in BRT Apartments in the 2nd quarter worth approximately $182,000. Hedge funds and other institutional investors own 29.07% of the company's stock.
Analyst Upgrades and Downgrades
A number of analysts have recently issued reports on the stock. Zacks Research raised shares of BRT Apartments to a "hold" rating in a research note on Monday, July 13th. Citigroup restated a "market outperform" rating on shares of BRT Apartments in a research note on Thursday, August 20th. Weiss Ratings cut shares of BRT Apartments from a "sell (d+)" rating to a "sell (d)" rating in a research note on Thursday, October 8th. Finally, Citizens Jmp reaffirmed a "market outperform" rating and issued a $20.00 target price on shares of BRT Apartments in a report on Thursday, August 20th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, BRT Apartments currently has an average rating of "Hold" and an average target price of $20.00.
Read Our Latest Stock Report on BRT
About BRT Apartments
(
Get Free Report)
BRT Apartments Corp. is a real estate investment trust (REIT) focused on the ownership and operation of multifamily apartment communities. Through its property portfolio and joint-venture investments, the company provides residential rental housing to individuals and families.
The company's activities include acquiring, developing, repositioning, renovating and managing apartment properties. Its communities generally operate under the BRT Apartments name or other property-specific brands and offer conventional rental housing with amenities and services intended to support residents.
BRT primarily targets markets in the Sun Belt and other growing regions of the United States, with a focus on multifamily properties in the Southeast and Southwest.
See Also
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
