Nisa Investment Advisors LLC Sells 1,665 Shares of BRT Apartments Corp. (NYSE:BRT)

Nisa Investment Advisors LLC lessened its holdings in shares of BRT Apartments Corp. (NYSE:BRT) by 24.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,030 shares of the financial services provider’s stock after selling 1,665 shares during the quarter. Nisa Investment Advisors LLC’s holdings in BRT Apartments were worth $90,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in BRT. Meeder Asset Management Inc. purchased a new stake in shares of BRT Apartments during the 2nd quarter valued at $28,000. BNP Paribas Financial Markets raised its position in BRT Apartments by 187.0% during the first quarter. BNP Paribas Financial Markets now owns 8,263 shares of the financial services provider’s stock valued at $139,000 after purchasing an additional 5,384 shares in the last quarter. Clear Creek Financial Management LLC grew its position in BRT Apartments by 4.7% during the second quarter. Clear Creek Financial Management LLC now owns 15,021 shares of the financial services provider’s stock valued at $262,000 after acquiring an additional 680 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake 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 worth $344,000 after purchasing an additional 1,726 shares during the last quarter. Finally, Wealth Alliance grew its position in BRT Apartments by 2.6% during the 2nd quarter. Wealth Alliance now owns 27,146 shares of the financial services provider’s stock worth $474,000 after acquiring an additional 681 shares during the last quarter. Institutional investors own 29.07% of the company’s stock.

Wall Street Analyst Weigh In

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

BRT Apartments Price Performance

BRT opened at $18.58 on Friday. The stock has a fifty day simple moving average of $17.79 and a two-hundred day simple moving average of $17.81. The company has a market cap of $348.69 million, a price-to-earnings ratio of -37.92, a price-to-earnings-growth ratio of 1.91 and a beta of 1.07. 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 Corp. has a 12-month low of $15.21 and a 12-month high of $20.12.

BRT Apartments (NYSE:BRT) last posted its quarterly earnings data 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). BRT Apartments had a negative return on equity of 3.89% and a negative net margin of 9.24%. The business had revenue of $23.86 million for the quarter, compared to the consensus estimate of $23.45 million. During the same period in the previous year, the firm earned $0.37 EPS. Research analysts predict that BRT Apartments Corp. will post 1.42 earnings per share for the current fiscal year.

BRT Apartments Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 2nd. Stockholders of record on Tuesday, September 24th were paid a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, September 24th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.38%. BRT Apartments’s dividend payout ratio is currently -204.08%.

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.