BRT Apartments Corp. (NYSE:BRT – Get Free Report) declared a quarterly dividend on Tuesday, June 11th, Zacks reports. Investors of record on Tuesday, June 25th will be paid a dividend of 0.25 per share by the financial services provider on Tuesday, July 9th. This represents a $1.00 dividend on an annualized basis and a yield of 5.58%. The ex-dividend date is Tuesday, June 25th.
BRT Apartments has increased its dividend by an average of 65.7% annually over the last three years. BRT Apartments has a dividend payout ratio of -178.6% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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 Trading Up 0.4 %
Shares of BRT opened at $17.91 on Friday. The company has a market cap of $333.84 million, a P/E ratio of 81.41, a P/E/G ratio of 1.98 and a beta of 1.08. BRT Apartments has a twelve month low of $15.21 and a twelve month high of $20.69. The company’s fifty day simple moving average is $17.62 and its 200-day simple moving average is $17.38. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 2.08.
Insider Buying and Selling
Wall Street Analyst Weigh In
Several equities analysts recently commented on the stock. B. Riley increased their price objective on shares of BRT Apartments from $19.50 to $20.50 and gave the company a “buy” rating in a research report on Friday, May 17th. JMP Securities restated a “market outperform” rating and issued a $24.00 target price on shares of BRT Apartments in a research note on Tuesday, May 21st.
View Our Latest Stock Report on BRT Apartments
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.
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