BRT Apartments Corp. (NYSE:BRT) Short Interest Up 22.2% in August

BRT Apartments Corp. (NYSE:BRT) was the target of a significant increase in short interest during the month of August. As of August 31st, there was short interest totalling 99,500 shares, an increase of 22.2% from the August 15th total of 81,400 shares. Currently, 0.9% of the shares of the stock are sold short. Based on an average trading volume of 27,500 shares, the days-to-cover ratio is currently 3.6 days.

Analyst Ratings Changes

BRT has been the subject of several research reports. JMP Securities reaffirmed a “market outperform” rating and issued a $24.00 target price on shares of BRT Apartments in a research note on Tuesday, May 21st. B. Riley upped their price objective on shares of 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 Trading Down 0.7 %

BRT stock traded down $0.13 during trading on Tuesday, hitting $18.95. 12,943 shares of the company traded hands, compared to its average volume of 32,846. The company has a debt-to-equity ratio of 2.14, a quick ratio of 0.90 and a current ratio of 0.90. The company has a 50-day moving average of $18.26 and a 200-day moving average of $17.55. The firm has a market capitalization of $353.25 million, a PE ratio of 86.73, a P/E/G ratio of 2.02 and a beta of 1.07. BRT Apartments has a 1 year low of $15.21 and a 1 year high of $20.12.

BRT Apartments (NYSE:BRT) last issued its earnings results on Friday, August 9th. The financial services provider reported ($0.13) EPS for the quarter, missing the consensus estimate of $0.37 by ($0.50). The firm had revenue of $23.86 million during the quarter, compared to analysts’ expectations of $23.45 million. BRT Apartments had a negative return on equity of 3.89% and a negative net margin of 9.24%. During the same period in the previous year, the firm earned $0.37 earnings per share. Analysts predict that BRT Apartments will post 1.5 earnings per share for the current fiscal year.

BRT Apartments Dividend Announcement

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 $0.25 dividend. The ex-dividend date is Tuesday, September 24th. This represents a $1.00 annualized dividend and a dividend yield of 5.28%. BRT Apartments’s payout ratio is presently 454.55%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Oppenheimer & Close LLC raised its holdings in BRT Apartments by 3.4% in the 1st quarter. Oppenheimer & Close LLC now owns 347,774 shares of the financial services provider’s stock worth $5,843,000 after purchasing an additional 11,287 shares in the last quarter. Vanguard Group Inc. increased its position in shares of BRT Apartments by 1.6% during the first quarter. Vanguard Group Inc. now owns 616,467 shares of the financial services provider’s stock valued at $10,357,000 after buying an additional 9,483 shares during the period. BNP Paribas Financial Markets raised 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 worth $139,000 after buying an additional 5,384 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in BRT Apartments by 5.7% in 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 buying an additional 5,207 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in BRT Apartments by 2.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 157,884 shares of the financial services provider’s stock valued at $2,758,000 after acquiring an additional 3,552 shares in the last quarter. Hedge funds and other institutional investors own 29.07% of the company’s stock.

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.