Root Financial Partners LLC grew its holdings in BRT Apartments Corp. (NYSE:BRT – Free Report) by 82.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 94,694 shares of the financial services provider’s stock after buying an additional 42,773 shares during the period. Root Financial Partners LLC owned approximately 0.50% of BRT Apartments worth $1,265,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently made changes to their positions in the business. BlackRock Inc. purchased a new stake in shares of BRT Apartments during the 2nd quarter valued at about $16,311,000. Bank of New York Mellon Corp bought a new position in shares of BRT Apartments in the 2nd quarter valued at about $1,336,000. Capital Square LLC bought a new position in shares of BRT Apartments in the 2nd quarter valued at about $309,000. Odyssean LLC bought a new position in shares of BRT Apartments in the 2nd quarter valued at about $207,000. Finally, Bank of America Corp DE bought a new position in shares of BRT Apartments in the 2nd quarter valued at about $182,000. 29.07% of the stock is currently owned by institutional investors.
Insider Activity
In other news, Director Alan Ginsburg sold 50,129 shares of the business’s stock in a transaction on Friday, October 16th. The shares were sold at an average price of $13.43, for a total transaction of $673,232.47. Following the completion of the sale, the director directly owned 24,800 shares of the company’s stock, valued at approximately $333,064. The trade was a 66.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 42.20% of the company’s stock.
Analyst Upgrades and Downgrades
Several research analysts recently commented on BRT shares. Weiss Ratings lowered BRT Apartments from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, October 8th. Citigroup restated a “market outperform” rating on shares of BRT Apartments in a research report on Thursday, August 20th. Zacks Research raised BRT Apartments to a “hold” rating in a research note on Monday, July 13th. Finally, Citizens Jmp reaffirmed a “market outperform” rating and issued a $20.00 price objective on shares of BRT Apartments in a research note on Thursday, August 20th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $20.00.
BRT Apartments Price Performance
Shares of BRT stock opened at $13.20 on Friday. The stock has a 50 day moving average price of $13.96 and a 200 day moving average price of $14.39. BRT Apartments Corp. has a 52-week low of $12.85 and a 52-week high of $15.63. The company has a debt-to-equity ratio of 3.16, a quick ratio of 1.75 and a current ratio of 1.75. The firm has a market capitalization of $247.93 million, a P/E ratio of 8.86 and a beta of 0.86.
BRT Apartments (NYSE:BRT – Get Free Report) last announced its quarterly earnings data on Monday, August 10th. The financial services provider reported ($0.19) EPS for the quarter, beating the consensus estimate of ($0.20) by $0.01. BRT Apartments had a negative return on equity of 7.46% and a negative net margin of 13.22%. The company had revenue of $24.47 million for the quarter, compared to the consensus estimate of $24.36 million. As a group, sell-side analysts predict that BRT Apartments Corp. will post 1.46 earnings per share for the current year.
BRT Apartments Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 6th. Stockholders of record on Monday, September 28th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 7.6%. The ex-dividend date was Monday, September 28th. BRT Apartments’s dividend payout ratio (DPR) is -142.86%.
About BRT Apartments
BRT Apartments Corp. is a real estate investment trust (REIT) focused on the ownership and operation of multifamily apartment communities. Through its property portfolio and joint-venture investments, the company provides residential rental housing to individuals and families.
The company’s activities include acquiring, developing, repositioning, renovating and managing apartment properties. Its communities generally operate under the BRT Apartments name or other property-specific brands and offer conventional rental housing with amenities and services intended to support residents.
BRT primarily targets markets in the Sun Belt and other growing regions of the United States, with a focus on multifamily properties in the Southeast and Southwest.
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