BRT Apartments (NYSE:BRT) Lifted to “Strong-Buy” at Zacks Investment Research

BRT Apartments (NYSE:BRTGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued on Tuesday, Zacks.com reports. The brokerage presently has a $24.00 price target on the financial services provider’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 12.62% from the stock’s current price.

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. “

BRT has been the topic of a number of other research reports. JMP Securities reissued a “buy” rating and issued a $28.00 target price on shares of BRT Apartments in a report on Wednesday, March 16th. StockNews.com started coverage on BRT Apartments in a report on Thursday, March 31st. They set a “hold” rating on the stock. TheStreet raised BRT Apartments from a “c+” rating to a “b-” rating in a report on Tuesday, May 10th. Finally, B. Riley raised BRT Apartments from a “neutral” rating to a “buy” rating and lifted their price target for the company from $19.00 to $29.00 in a report on Monday, March 21st. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $26.50.

NYSE BRT traded up $0.57 during trading hours on Tuesday, reaching $21.31. The company’s stock had a trading volume of 31,777 shares, compared to its average volume of 61,005. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 1.16. The business has a 50-day simple moving average of $22.55 and a 200 day simple moving average of $21.74. BRT Apartments has a 52 week low of $17.05 and a 52 week high of $25.31. The stock has a market cap of $396.43 million, a PE ratio of 8.66, a PEG ratio of 2.58 and a beta of 1.28.

BRT Apartments (NYSE:BRTGet Rating) last issued its earnings results on Monday, May 9th. The financial services provider reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.10. BRT Apartments had a net margin of 121.97% and a return on equity of 22.09%. During the same period in the previous year, the company earned $0.30 EPS. As a group, equities analysts predict that BRT Apartments will post 1.3 EPS for the current year.

In other BRT Apartments news, major shareholder Investors L. P. Gould purchased 6,924 shares of the firm’s stock in a transaction on Thursday, May 12th. The shares were purchased at an average price of $19.99 per share, for a total transaction of $138,410.76. Following the completion of the transaction, the insider now owns 2,996,822 shares in the company, valued at approximately $59,906,471.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 37.90% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of BRT. Traynor Capital Management Inc. acquired a new stake in shares of BRT Apartments during the 1st quarter valued at $714,000. Avantax Advisory Services Inc. boosted its stake in shares of BRT Apartments by 11.2% during the 4th quarter. Avantax Advisory Services Inc. now owns 220,519 shares of the financial services provider’s stock valued at $5,290,000 after buying an additional 22,244 shares during the period. Two Sigma Advisers LP lifted its stake in shares of BRT Apartments by 91.3% in the 3rd quarter. Two Sigma Advisers LP now owns 37,300 shares of the financial services provider’s stock valued at $719,000 after purchasing an additional 17,800 shares during the last quarter. All Season Financial Advisors Inc. acquired a new stake in shares of BRT Apartments in the 1st quarter valued at $426,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of BRT Apartments in the 4th quarter valued at $420,000. Hedge funds and other institutional investors own 28.28% of the company’s stock.

BRT Apartments Company Profile (Get Rating)

BRT is a real estate investment trust that owns, operates and develops multi-family properties.

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