B. Riley Increases BRT Apartments (NYSE:BRT) Price Target to $22.00

BRT Apartments (NYSE:BRT) had its target price hoisted by B. Riley from $21.00 to $22.00 in a research report sent to investors on Tuesday,Benzinga reports. They currently have a buy rating on the financial services provider’s stock. B. Riley also issued estimates for BRT Apartments’ FY2026 earnings at ($0.57) EPS.

BRT Apartments Stock Performance

NYSE:BRT opened at $18.74 on Tuesday. BRT Apartments has a fifty-two week low of $15.21 and a fifty-two week high of $20.22. The firm’s 50 day moving average is $18.22 and its two-hundred day moving average is $18.04. The company has a market cap of $352.42 million, a P/E ratio of -35.36, a P/E/G ratio of 2.20 and a beta of 1.10. The company has a quick ratio of 1.94, a current ratio of 1.94 and a debt-to-equity ratio of 2.31.

BRT Apartments (NYSE:BRT) last posted its quarterly earnings results on Thursday, November 7th. The financial services provider reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.47). The firm had revenue of $24.40 million for the quarter, compared to analysts’ expectations of $23.80 million. BRT Apartments had a negative net margin of 9.94% and a negative return on equity of 4.33%. During the same period last year, the firm posted $0.41 EPS. Analysts expect that BRT Apartments will post 1.42 EPS for the current year.

BRT Apartments Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Monday, December 23rd will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.34%. The ex-dividend date is Monday, December 23rd. BRT Apartments’s dividend payout ratio is presently -188.68%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted 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 buying an additional 9,483 shares during the last quarter. State Street Corp boosted its holdings in BRT Apartments by 0.6% in the third quarter. State Street Corp now owns 244,355 shares of the financial services provider’s stock worth $4,356,000 after purchasing an additional 1,561 shares during the period. Dimensional Fund Advisors LP increased its stake in BRT Apartments by 2.3% during the second quarter. Dimensional Fund Advisors LP now owns 157,884 shares of the financial services provider’s stock valued at $2,758,000 after purchasing an additional 3,552 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of BRT Apartments by 5.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 97,281 shares of the financial services provider’s stock worth $1,699,000 after buying an additional 5,207 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC acquired a new position in shares of BRT Apartments in the 3rd quarter valued at about $1,594,000. 29.07% of the stock is owned by institutional investors and hedge funds.

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.