BRT Apartments Corp. (BRT) to Issue Quarterly Dividend of $0.25 on July 9th

BRT Apartments Corp. (NYSE:BRT) declared a quarterly dividend on Tuesday, June 11th, Zacks reports. Investors of record on Tuesday, June 25th will be paid a dividend of 0.25 per share by the financial services provider on Tuesday, July 9th. This represents a $1.00 dividend on an annualized basis and a yield of 5.58%. The ex-dividend date is Tuesday, June 25th.

BRT Apartments has increased its dividend by an average of 65.7% annually over the last three years. BRT Apartments has a dividend payout ratio of -178.6% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect BRT Apartments to earn $1.54 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 64.9%.

BRT Apartments Trading Up 0.4 %

Shares of BRT opened at $17.91 on Friday. The company has a market cap of $333.84 million, a P/E ratio of 81.41, a P/E/G ratio of 1.98 and a beta of 1.08. BRT Apartments has a twelve month low of $15.21 and a twelve month high of $20.69. The company’s fifty day simple moving average is $17.62 and its 200-day simple moving average is $17.38. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 2.08.

Insider Buying and Selling

In other BRT Apartments news, major shareholder Investors L. P. Gould bought 15,475 shares of BRT Apartments stock in a transaction dated Monday, March 25th. The stock was acquired at an average cost of $16.23 per share, for a total transaction of $251,159.25. Following the completion of the transaction, the insider now directly owns 3,547,873 shares of the company’s stock, valued at $57,581,978.79. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, major shareholder Investors L. P. Gould acquired 15,475 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The stock was purchased at an average price of $16.23 per share, with a total value of $251,159.25. Following the completion of the acquisition, the insider now owns 3,547,873 shares of the company’s stock, valued at approximately $57,581,978.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jeffrey Gould bought 4,275 shares of the business’s stock in a transaction on Monday, March 25th. The shares were acquired at an average cost of $16.48 per share, with a total value 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. In the last three months, insiders have bought 100,610 shares of company stock worth $1,675,856. Insiders own 40.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. B. Riley increased their price objective on shares of BRT Apartments from $19.50 to $20.50 and gave the company a “buy” rating in a research report on Friday, May 17th. JMP Securities restated a “market outperform” rating and issued a $24.00 target price on shares of BRT Apartments in a research note on Tuesday, May 21st.

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.