BRT Apartments Corp. (NYSE:BRT) Declares Quarterly Dividend of $0.25

BRT Apartments Corp. (NYSE:BRT) declared a quarterly dividend on Wednesday, December 11th,NASDAQ Dividends reports. Investors of record on Monday, December 23rd will be paid a dividend of 0.25 per share by the financial services provider on Monday, January 6th. This represents a $1.00 annualized dividend and a yield of 5.34%. The ex-dividend date of this dividend is Monday, December 23rd.

BRT Apartments has raised its dividend by an average of 65.7% per year over the last three years. BRT Apartments has a dividend payout ratio of -163.9% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect BRT Apartments to earn $1.50 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 66.7%.

BRT Apartments Stock Down 1.6 %

NYSE BRT traded down $0.30 during midday trading on Thursday, hitting $18.74. 25,202 shares of the company traded hands, compared to its average volume of 35,854. BRT Apartments has a 52 week low of $15.21 and a 52 week high of $20.22. The company’s 50-day simple moving average is $18.22 and its 200-day simple moving average is $18.04. The company has a market cap of $352.42 million, a PE ratio of -35.36, a price-to-earnings-growth ratio of 2.20 and a beta of 1.10. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.94 and a quick ratio of 1.94.

BRT Apartments (NYSE:BRT) last issued its quarterly earnings data on Thursday, November 7th. The financial services provider reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.47). The company had revenue of $24.40 million for the quarter, compared to the consensus estimate of $23.80 million. BRT Apartments had a negative net margin of 9.94% and a negative return on equity of 4.33%. During the same period in the previous year, the business earned $0.41 EPS. As a group, equities research analysts forecast that BRT Apartments will post 1.42 earnings per share for the current year.

Analyst Ratings Changes

Separately, B. Riley upped their price target on BRT Apartments from $21.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday.

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.