BRT Apartments Corp. (BRT) To Go Ex-Dividend on September 24th

BRT Apartments Corp. (NYSE:BRT) declared a quarterly dividend on Tuesday, September 10th, Wall Street Journal reports. Shareholders of record on Tuesday, September 24th will be paid a dividend of 0.25 per share by the financial services provider on Wednesday, October 2nd. This represents a $1.00 annualized dividend and a yield of 5.41%. The ex-dividend date of this dividend is Tuesday, September 24th.

BRT Apartments has raised its dividend by an average of 65.7% per year over the last three years. BRT Apartments has a payout ratio of -169.5% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research 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 Stock Down 2.6 %

Shares of NYSE BRT opened at $18.47 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 2.14. The company has a market cap of $344.30 million, a price-to-earnings ratio of 83.95, a PEG ratio of 2.02 and a beta of 1.07. BRT Apartments has a 12 month low of $15.21 and a 12 month high of $20.12. The stock has a 50-day moving average price of $18.38 and a two-hundred day moving average price of $17.63.

BRT Apartments (NYSE:BRT) last issued its earnings results on Friday, August 9th. The financial services provider reported ($0.13) 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 previous year, the firm posted $0.37 EPS. As a group, analysts forecast that BRT Apartments will post 1.5 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, B. Riley upped their price objective on BRT Apartments from $20.50 to $21.00 and gave the company a “buy” rating in a research note on Thursday, September 12th.

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.