B. Riley Increases BRT Apartments (NYSE:BRT) Price Target to $21.00

BRT Apartments (NYSE:BRT) had its target price hoisted by analysts at B. Riley from $20.50 to $21.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the financial services provider’s stock. B. Riley’s price objective points to a potential upside of 10.70% from the stock’s current price. B. Riley also issued estimates for BRT Apartments’ Q1 2025 earnings at $0.33 EPS, Q2 2025 earnings at $0.37 EPS, Q3 2025 earnings at $0.39 EPS and Q4 2025 earnings at $0.41 EPS.

Separately, JMP Securities restated a “market outperform” rating and issued a $24.00 price objective on shares of BRT Apartments in a research report on Tuesday, May 21st.

BRT Apartments Stock Performance

Shares of BRT opened at $18.97 on Thursday. The business’s fifty day simple moving average is $18.23 and its two-hundred day simple moving average is $17.50. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 2.14. BRT Apartments has a 12 month low of $15.21 and a 12 month high of $20.12. The company has a market cap of $356.07 million, a price-to-earnings ratio of 86.23, a P/E/G ratio of 2.02 and a beta of 1.07.

BRT Apartments (NYSE:BRT) last released its quarterly 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 firm had revenue of $23.86 million for the quarter, compared to the consensus estimate of $23.45 million. BRT Apartments had a negative net margin of 9.24% and a negative return on equity of 3.89%. During the same period in the previous year, the company earned $0.37 earnings per share. Research analysts anticipate that BRT Apartments will post 1.5 earnings per share for the current fiscal year.

Institutional Investors Weigh In On BRT Apartments

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Meeder Asset Management Inc. acquired a new stake in BRT Apartments in the second quarter worth about $28,000. BNP Paribas Financial Markets boosted its holdings in 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 worth $139,000 after acquiring an additional 5,384 shares in the last quarter. Clear Creek Financial Management LLC boosted its holdings 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 in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of BRT Apartments by 9.2% in the first 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, Wealth Alliance raised its stake in shares of BRT Apartments by 2.6% in the second quarter. Wealth Alliance now owns 27,146 shares of the financial services provider’s stock worth $474,000 after purchasing an additional 681 shares during the last quarter. 29.07% of the stock is currently owned by hedge funds and other institutional investors.

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.