Allspring Global Investments Holdings LLC Sells 9,504 Shares of BRT Apartments Corp. (NYSE:BRT)

Allspring Global Investments Holdings LLC reduced its stake in shares of BRT Apartments Corp. (NYSE:BRT) by 46.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,753 shares of the financial services provider’s stock after selling 9,504 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.06% of BRT Apartments worth $189,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Oppenheimer & Close LLC lifted its position in shares of BRT Apartments by 3.4% during the first 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 stake in BRT Apartments by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 616,467 shares of the financial services provider’s stock worth $10,357,000 after purchasing an additional 9,483 shares in the last quarter. BNP Paribas Financial Markets lifted its position in BRT Apartments by 187.0% in the 1st quarter. BNP Paribas Financial Markets now owns 8,263 shares of the financial services provider’s stock valued at $139,000 after acquiring an additional 5,384 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of BRT Apartments by 5.7% during 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 in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of BRT Apartments by 2.3% in the second quarter. Dimensional Fund Advisors LP now owns 157,884 shares of the financial services provider’s stock valued at $2,758,000 after purchasing an additional 3,552 shares during the last quarter. 29.07% of the stock is currently owned by institutional investors and hedge funds.

BRT Apartments Stock Performance

NYSE BRT opened at $16.15 on Monday. BRT Apartments Corp. has a 52-week low of $15.21 and a 52-week high of $20.12. The firm has a 50-day moving average of $17.90 and a 200-day moving average of $17.81. 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 stock has a market cap of $303.09 million, a PE ratio of -32.96, a P/E/G ratio of 1.91 and a beta of 1.07.

BRT Apartments (NYSE:BRT) last issued its quarterly earnings data on Friday, August 9th. The financial services provider reported ($0.13) earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.50). The business had revenue of $23.86 million during the quarter, compared to analyst estimates 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 quarter last year, the firm earned $0.37 EPS. On average, sell-side analysts anticipate that BRT Apartments Corp. will post 1.42 EPS for the current year.

BRT Apartments Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 2nd. Shareholders of record on Tuesday, September 24th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.19%. The ex-dividend date of this dividend was Tuesday, September 24th. BRT Apartments’s dividend payout ratio is presently -204.08%.

Analysts Set New Price Targets

Separately, B. Riley upped their price objective on BRT Apartments from $20.50 to $21.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th.

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.