Short Interest in BRT Apartments Corp. (NYSE:BRT) Declines By 9.4%

BRT Apartments Corp. (NYSE:BRT) was the target of a large decline in short interest in the month of September. As of September 15th, there was short interest totalling 90,100 shares, a decline of 9.4% from the August 31st total of 99,500 shares. Approximately 0.8% of the shares of the company are short sold. Based on an average trading volume of 27,100 shares, the short-interest ratio is presently 3.3 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of BRT. Wealth Alliance raised its holdings in shares of BRT Apartments by 2.6% during the second quarter. Wealth Alliance now owns 27,146 shares of the financial services provider’s stock valued at $474,000 after acquiring an additional 681 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of BRT Apartments by 2.3% in the second quarter. Dimensional Fund Advisors LP now owns 157,884 shares of the financial services provider’s stock worth $2,758,000 after acquiring an additional 3,552 shares during the last quarter. Meeder Asset Management Inc. bought a new stake in BRT Apartments in the 2nd quarter worth about $28,000. ClariVest Asset Management LLC grew its stake in shares of BRT Apartments by 2.9% during the 2nd quarter. ClariVest Asset Management LLC now owns 44,767 shares of the financial services provider’s stock valued at $782,000 after purchasing an additional 1,251 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in shares of BRT Apartments by 5.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 97,281 shares of the financial services provider’s stock valued at $1,699,000 after purchasing an additional 5,207 shares during the period. Hedge funds and other institutional investors own 29.07% of the company’s stock.

Wall Street Analysts Forecast Growth

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

BRT Apartments Price Performance

Shares of BRT traded up $0.12 during midday trading on Friday, hitting $17.84. 11,330 shares of the company traded hands, compared to its average volume of 32,849. The stock has a 50-day moving average of $18.35 and a 200-day moving average of $17.70. BRT Apartments has a one year low of $15.21 and a one year high of $20.12. The firm has a market cap of $332.56 million, a P/E ratio of 81.09, a PEG ratio of 2.16 and a beta of 1.07. The company has a debt-to-equity ratio of 2.14, a current ratio of 0.90 and a quick ratio of 0.90.

BRT Apartments (NYSE:BRT) last announced its quarterly earnings results on Friday, August 9th. The financial services provider reported ($0.13) earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.50). BRT Apartments had a negative net margin of 9.24% and a negative return on equity of 3.89%. The company had revenue of $23.86 million for the quarter, compared to the consensus estimate of $23.45 million. During the same quarter in the prior year, the company earned $0.37 earnings per share. As a group, sell-side analysts predict that BRT Apartments will post 1.42 EPS for the current fiscal year.

BRT Apartments Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Tuesday, September 24th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 5.61%. The ex-dividend date 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.