BRT Apartments (BRT) Raised to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of BRT Apartments (NYSE:BRT) from a hold rating to a buy rating in a report issued on Tuesday. The firm currently has $13.00 price target on the financial services provider’s stock.

According to Zacks, “BRT is a real estate investment trust. BRT’s primary business activity is to originate and hold for investment for its own account, senior real estate mortgage loans secured by income producing real property and, to a lesser extent, junior real estate mortgage loans secured by income producing real property and senior mortgage loans secured by undeveloped real property. “

Several other equities analysts also recently commented on BRT. B. Riley reiterated a buy rating on shares of BRT Apartments in a report on Wednesday, November 1st. TheStreet upgraded shares of BRT Apartments from a d+ rating to a c- rating in a research note on Tuesday, September 26th. Janney Montgomery Scott began coverage on shares of BRT Apartments in a research note on Friday, September 29th. They issued a neutral rating and a $10.50 target price on the stock. Finally, FBR & Co began coverage on shares of BRT Apartments in a research note on Thursday, October 26th. They issued a buy rating and a $11.75 target price on the stock. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $11.94.

BRT Apartments (BRT) opened at $11.30 on Tuesday. The company has a market cap of $159.72, a PE ratio of 13.89 and a beta of 0.22. BRT Apartments has a fifty-two week low of $7.36 and a fifty-two week high of $11.39. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 3.10.

BRT Apartments declared that its board has initiated a share buyback plan on Tuesday, September 12th that allows the company to buyback $5.00 million in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 3.6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 5th. Stockholders of record on Friday, December 22nd will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, December 21st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 6.37%. BRT Apartments’s dividend payout ratio is presently 73.47%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Oppenheimer & Close LLC lifted its position in BRT Apartments by 38.4% during the third quarter. Oppenheimer & Close LLC now owns 259,116 shares of the financial services provider’s stock valued at $2,777,000 after acquiring an additional 71,924 shares during the last quarter. B. Riley Financial Inc. lifted its position in BRT Apartments by 6.2% during the third quarter. B. Riley Financial Inc. now owns 87,631 shares of the financial services provider’s stock valued at $939,000 after acquiring an additional 5,119 shares during the last quarter. Northern Trust Corp lifted its position in BRT Apartments by 2.2% during the second quarter. Northern Trust Corp now owns 54,555 shares of the financial services provider’s stock valued at $429,000 after acquiring an additional 1,200 shares during the last quarter. Finally, Stifel Financial Corp purchased a new stake in BRT Apartments during the third quarter valued at approximately $108,000. Hedge funds and other institutional investors own 22.06% of the company’s stock.

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BRT Apartments Company Profile

BRT Apartments Corp. is a real estate investment trust (REIT). The Trust is focused on the ownership, operation and development of multi-family properties. These activities are primarily conducted through joint ventures in which the Trust has an equity interest in the entity owning the property. The Trust’s segments include Multi-Family Real Estate and Other Assets.

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