BRT Apartments (NYSE:BRT) Announces Quarterly Earnings Results

BRT Apartments (NYSE:BRT) posted its quarterly earnings data on Friday. The financial services provider reported ($0.13) earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.50), Zacks reports. BRT Apartments had a net margin of 5.10% and a return on equity of 2.06%. The firm had revenue of $23.86 million for the quarter, compared to the consensus estimate of $23.45 million. During the same period in the previous year, the firm posted $0.37 earnings per share.

BRT Apartments Stock Performance

NYSE:BRT traded down $0.34 on Monday, hitting $17.21. The stock had a trading volume of 34,857 shares, compared to its average volume of 34,925. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 2.08. The stock has a market cap of $320.81 million, a price-to-earnings ratio of 78.23, a price-to-earnings-growth ratio of 2.05 and a beta of 1.06. The business’s 50-day simple moving average is $17.78 and its two-hundred day simple moving average is $17.20. BRT Apartments has a 52-week low of $15.21 and a 52-week high of $20.12.

BRT Apartments Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 9th. Shareholders of record on Tuesday, June 25th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 5.81%. The ex-dividend date of this dividend was Tuesday, June 25th. BRT Apartments’s dividend payout ratio is 454.55%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. JMP Securities reaffirmed a “market outperform” rating and set a $24.00 price objective on shares of BRT Apartments in a research report on Tuesday, May 21st. B. Riley raised their price target 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.

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.