BRT Apartments Corp. (NYSE:BRT) to Post Q3 2024 Earnings of $0.35 Per Share, B. Riley Forecasts

BRT Apartments Corp. (NYSE:BRT) – Analysts at B. Riley decreased their Q3 2024 earnings per share estimates for shares of BRT Apartments in a research report issued on Thursday, September 12th. B. Riley analyst J. Massocca now expects that the financial services provider will earn $0.35 per share for the quarter, down from their previous forecast of $0.38. B. Riley has a “Buy” rating and a $21.00 price objective on the stock. The consensus estimate for BRT Apartments’ current full-year earnings is $1.50 per share. B. Riley also issued estimates for BRT Apartments’ Q4 2024 earnings at $0.37 EPS, FY2024 earnings at $1.42 EPS and FY2025 earnings at $1.50 EPS.

BRT Apartments (NYSE:BRT) last released its earnings results on Friday, August 9th. The financial services provider reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $23.86 million for the quarter, compared to analysts’ expectations of $23.45 million. During the same quarter in the previous year, the company posted $0.37 earnings per share.

Separately, JMP Securities reiterated a “market outperform” rating and set a $24.00 target price on shares of BRT Apartments in a research note on Tuesday, May 21st.

BRT Apartments Trading Up 0.4 %

Shares of NYSE:BRT opened at $19.08 on Monday. BRT Apartments has a 52 week low of $15.21 and a 52 week high of $20.12. The company’s 50 day moving average is $18.26 and its two-hundred day moving average is $17.55. The company has a market cap of $355.67 million, a PE ratio of 86.73, a P/E/G ratio of 2.02 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.

Hedge Funds Weigh In On BRT Apartments

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BRT. Oppenheimer & Close LLC boosted its holdings in shares of BRT Apartments by 3.4% in the 1st quarter. Oppenheimer & Close LLC now owns 347,774 shares of the financial services provider’s stock valued at $5,843,000 after buying an additional 11,287 shares in the last quarter. Vanguard Group Inc. lifted its position in BRT Apartments by 1.6% in the first quarter. Vanguard Group Inc. now owns 616,467 shares of the financial services provider’s stock valued at $10,357,000 after acquiring an additional 9,483 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in BRT Apartments by 187.0% in the first quarter. BNP Paribas Financial Markets now owns 8,263 shares of the financial services provider’s stock valued at $139,000 after acquiring an additional 5,384 shares in the last quarter. Bank of New York Mellon Corp grew its holdings 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 purchasing an additional 5,207 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of 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 worth $2,758,000 after purchasing an additional 3,552 shares in the last quarter. 29.07% of the stock is owned by institutional investors and hedge funds.

BRT Apartments Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Tuesday, September 24th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 5.24%. The ex-dividend date of this dividend is Tuesday, September 24th. BRT Apartments’s payout ratio is 454.55%.

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.