Meeder Asset Management Inc. Buys Shares of 1,608 BRT Apartments Corp. (NYSE:BRT)

Meeder Asset Management Inc. bought a new stake in BRT Apartments Corp. (NYSE:BRT) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,608 shares of the financial services provider’s stock, valued at approximately $28,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its holdings in 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 valued at $344,000 after purchasing an additional 1,726 shares during the period. Albert D Mason Inc. increased its holdings in BRT Apartments by 0.9% during the 1st quarter. Albert D Mason Inc. now owns 68,740 shares of the financial services provider’s stock worth $1,155,000 after purchasing an additional 620 shares during the period. BNP Paribas Financial Markets increased 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 purchasing an additional 5,384 shares during the period. Oppenheimer & Close LLC increased its holdings 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 worth $5,843,000 after purchasing an additional 11,287 shares during the period. Finally, Vanguard Group Inc. increased its holdings 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 worth $10,357,000 after purchasing an additional 9,483 shares during the period. Hedge funds and other institutional investors own 29.07% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on BRT shares. B. Riley upped their price target on BRT Apartments from $20.50 to $21.00 and gave the stock a “buy” rating in a report on Thursday. JMP Securities restated a “market outperform” rating and set a $24.00 price target on shares of BRT Apartments in a report on Tuesday, May 21st.

BRT Apartments Trading Up 2.0 %

NYSE:BRT opened at $19.00 on Monday. The stock has a 50-day simple moving average of $18.23 and a 200-day simple moving average of $17.52. The stock has a market cap of $354.18 million, a P/E ratio of 86.36, a P/E/G ratio of 2.02 and a beta of 1.07. BRT Apartments Corp. has a 1 year low of $15.21 and a 1 year 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.

BRT Apartments (NYSE:BRT) last released its quarterly earnings data 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). The business had revenue of $23.86 million for 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 period in the prior year, the company posted $0.37 earnings per share. As a group, analysts anticipate that BRT Apartments Corp. will post 1.5 earnings per share for the current fiscal year.

BRT Apartments Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Tuesday, September 24th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, September 24th. This represents a $1.00 annualized dividend and a dividend yield of 5.26%. BRT Apartments’s dividend payout ratio is currently 454.55%.

About BRT Apartments

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.