State Street Corp Boosts Holdings in BRT Apartments Corp. (NYSE:BRT)

State Street Corp grew its position in BRT Apartments Corp. (NYSE:BRT) by 0.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 244,355 shares of the financial services provider’s stock after acquiring an additional 1,561 shares during the quarter. State Street Corp’s holdings in BRT Apartments were worth $4,356,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Wealth Alliance lifted its stake in 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. ClariVest Asset Management LLC increased its stake in BRT Apartments by 2.9% in the second quarter. ClariVest Asset Management LLC now owns 44,767 shares of the financial services provider’s stock worth $782,000 after purchasing an additional 1,251 shares during the period. Meeder Asset Management Inc. purchased a new position in BRT Apartments in the 2nd quarter worth about $28,000. Dimensional Fund Advisors LP lifted its holdings in BRT Apartments by 2.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 157,884 shares of the financial services provider’s stock valued at $2,758,000 after buying an additional 3,552 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of BRT Apartments by 5.7% during the second quarter. Bank of New York Mellon Corp now owns 97,281 shares of the financial services provider’s stock worth $1,699,000 after acquiring an additional 5,207 shares during the period. Institutional investors own 29.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, B. Riley lifted their target price on BRT Apartments from $21.00 to $22.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th.

BRT Apartments Stock Performance

Shares of NYSE:BRT opened at $17.75 on Monday. The firm has a 50 day moving average of $18.35 and a 200 day moving average of $18.10. The company has a quick ratio of 1.94, a current ratio of 1.94 and a debt-to-equity ratio of 2.31. The company has a market capitalization of $333.81 million, a price-to-earnings ratio of -33.49, a price-to-earnings-growth ratio of 2.23 and a beta of 1.11. BRT Apartments Corp. has a 52 week low of $15.21 and a 52 week high of $20.22.

BRT Apartments (NYSE:BRT) last issued its quarterly earnings data on Thursday, November 7th. The financial services provider reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.47). The company had revenue of $24.40 million for the quarter, compared to analysts’ expectations of $23.80 million. BRT Apartments had a negative return on equity of 4.33% and a negative net margin of 9.94%. During the same quarter last year, the company earned $0.41 earnings per share. On average, sell-side analysts predict that BRT Apartments Corp. will post 1.42 earnings per share for the current fiscal year.

BRT Apartments Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Monday, December 23rd will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 5.63%. The ex-dividend date is Monday, December 23rd. BRT Apartments’s dividend payout ratio is currently -188.68%.

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.