B. Riley Weighs in on BRT Apartments Corp.’s Q1 2024 Earnings (NYSE:BRT)

BRT Apartments Corp. (NYSE:BRT) – Research analysts at B. Riley issued their Q1 2024 EPS estimates for shares of BRT Apartments in a report released on Wednesday, April 10th. B. Riley analyst J. Massocca forecasts that the financial services provider will post earnings per share of $0.27 for the quarter. B. Riley currently has a “Buy” rating and a $19.50 target price on the stock. The consensus estimate for BRT Apartments’ current full-year earnings is $1.20 per share. B. Riley also issued estimates for BRT Apartments’ Q2 2024 earnings at $0.29 EPS, Q3 2024 earnings at $0.29 EPS, Q4 2024 earnings at $0.34 EPS and FY2024 earnings at $1.20 EPS.

Separately, JMP Securities reduced their price objective on shares of BRT Apartments from $28.00 to $24.00 and set an “outperform” rating on the stock in a research note on Thursday, March 14th.

BRT Apartments Stock Up 2.1 %

BRT Apartments stock opened at $17.64 on Monday. The company’s 50 day simple moving average is $16.31 and its 200 day simple moving average is $17.26. BRT Apartments has a fifty-two week low of $15.21 and a fifty-two week high of $20.69. The firm has a market capitalization of $327.75 million, a price-to-earnings ratio of 98.01 and a beta of 1.15. The company has a debt-to-equity ratio of 2.01, a current ratio of 1.10 and a quick ratio of 1.10.

BRT Apartments Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Wednesday, March 27th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 5.67%. The ex-dividend date was Tuesday, March 26th. BRT Apartments’s payout ratio is 555.59%.

Insider Buying and Selling at BRT Apartments

In related news, major shareholder Investors L. P. Gould purchased 2,277 shares of the business’s stock in a transaction on Monday, March 18th. The shares were purchased at an average price of $16.29 per share, with a total value of $37,092.33. Following the completion of the purchase, the insider now owns 3,527,936 shares in the company, valued at approximately $57,470,077.44. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, major shareholder Investors L. P. Gould purchased 2,277 shares of the business’s stock in a transaction on Monday, March 18th. The shares were purchased at an average price of $16.29 per share, with a total value of $37,092.33. Following the completion of the purchase, the insider now owns 3,527,936 shares in the company, valued at approximately $57,470,077.44. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Matthew J. Gould purchased 11,200 shares of the business’s stock in a transaction on Tuesday, March 26th. The stock was bought at an average cost of $16.14 per share, for a total transaction of $180,768.00. Following the purchase, the senior vice president now owns 3,547,873 shares of the company’s stock, valued at approximately $57,262,670.22. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 65,587 shares of company stock valued at $1,078,897. 38.30% of the stock is currently owned by corporate insiders.

Institutional Trading of BRT Apartments

Hedge funds and other institutional investors have recently made changes to their positions in the business. Metropolitan Life Insurance Co NY raised its holdings in shares of BRT Apartments by 83.9% in the first quarter. Metropolitan Life Insurance Co NY now owns 1,392 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 635 shares during the last quarter. Orion Capital Management LLC acquired a new position in BRT Apartments during the third quarter worth $35,000. Barclays PLC increased its holdings in BRT Apartments by 166.9% during the fourth quarter. Barclays PLC now owns 3,230 shares of the financial services provider’s stock worth $64,000 after buying an additional 2,020 shares during the last quarter. Citigroup Inc. increased its holdings in BRT Apartments by 13,260.7% during the second quarter. Citigroup Inc. now owns 3,741 shares of the financial services provider’s stock worth $74,000 after buying an additional 3,713 shares during the last quarter. Finally, State of Alaska Department of Revenue increased its holdings in BRT Apartments by 18.6% during the third quarter. State of Alaska Department of Revenue now owns 5,555 shares of the financial services provider’s stock worth $95,000 after buying an additional 871 shares during the last quarter. 29.07% of the stock is currently owned by institutional investors and hedge funds.

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.