BRT Apartments Corp. (NYSE:BRT) Short Interest Up 120.7% in November

BRT Apartments Corp. (NYSE:BRT) was the recipient of a large growth in short interest in the month of November. As of November 30th, there was short interest totalling 232,000 shares, a growth of 120.7% from the November 15th total of 105,100 shares. Based on an average trading volume of 42,800 shares, the days-to-cover ratio is presently 5.4 days. Currently, 2.1% of the company’s stock are sold short.

Wall Street Analyst Weigh In

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

BRT Apartments Price Performance

Shares of BRT stock opened at $18.76 on Friday. The stock has a 50 day moving average of $18.24 and a two-hundred day moving average of $18.05. The company has a current ratio of 1.94, a quick ratio of 1.94 and a debt-to-equity ratio of 2.31. The company has a market capitalization of $352.88 million, a P/E ratio of -35.40, a P/E/G ratio of 2.23 and a beta of 1.11. BRT Apartments has a 12 month low of $15.21 and a 12 month high of $20.22.

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

BRT Apartments Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Monday, December 23rd will be given a dividend of $0.25 per share. The ex-dividend date is Monday, December 23rd. This represents a $1.00 dividend on an annualized basis and a yield of 5.33%. BRT Apartments’s dividend payout ratio (DPR) is presently -188.68%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in BRT. Clear Creek Financial Management LLC lifted its stake in shares of BRT Apartments by 4.7% during the second quarter. Clear Creek Financial Management LLC now owns 15,021 shares of the financial services provider’s stock valued at $262,000 after acquiring an additional 680 shares during the period. Wealth Alliance increased its position in BRT Apartments by 2.6% in the second quarter. Wealth Alliance now owns 27,146 shares of the financial services provider’s stock worth $474,000 after purchasing an additional 681 shares during the period. ClariVest Asset Management LLC raised its holdings in 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 worth $782,000 after purchasing an additional 1,251 shares during the last quarter. State Street Corp lifted its position in BRT Apartments by 0.6% during the 3rd quarter. State Street Corp now owns 244,355 shares of the financial services provider’s stock valued at $4,356,000 after purchasing an additional 1,561 shares during the period. Finally, Meeder Asset Management Inc. bought a new position in shares of BRT Apartments in the 2nd quarter valued at about $28,000. Institutional investors and hedge funds 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.