BRT Apartments Corp. (NYSE:BRT) Short Interest Update

BRT Apartments Corp. (NYSE:BRT) saw a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 96,800 shares, an increase of 9.0% from the October 15th total of 88,800 shares. Based on an average daily volume of 27,100 shares, the short-interest ratio is presently 3.6 days. Currently, 0.9% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

Separately, B. Riley lifted their price target on shares of BRT Apartments from $20.50 to $21.00 and gave the stock a “buy” rating in a report on Thursday, September 12th.

BRT Apartments Trading Up 3.7 %

BRT stock traded up $0.68 during midday trading on Friday, hitting $19.14. The stock had a trading volume of 86,236 shares, compared to its average volume of 41,305. The firm has a market cap of $360.02 million, a P/E ratio of -36.11, a price-to-earnings-growth ratio of 2.25 and a beta of 1.07. The company has a current ratio of 1.94, a quick ratio of 1.94 and a debt-to-equity ratio of 2.31. BRT Apartments has a 1-year low of $15.21 and a 1-year high of $20.12. The business has a fifty day moving average price of $17.80 and a two-hundred day moving average price of $17.85.

BRT Apartments (NYSE:BRT) last released its earnings results on Thursday, November 7th. The financial services provider reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.47). The firm had revenue of $24.40 million during the quarter, compared to analyst estimates of $23.80 million. BRT Apartments had a negative net margin of 9.94% and a negative return on equity of 4.33%. During the same quarter in the previous year, the firm earned $0.41 EPS. On average, sell-side analysts predict that BRT Apartments will post 1.42 earnings per share for the current fiscal year.

BRT Apartments Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 2nd. Investors of record on Tuesday, September 24th were issued a $0.25 dividend. The ex-dividend date was Tuesday, September 24th. This represents a $1.00 annualized dividend and a yield of 5.22%. BRT Apartments’s payout ratio is -188.68%.

Hedge Funds Weigh In On BRT Apartments

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BNP Paribas Financial Markets increased its stake in BRT Apartments by 187.0% in the first quarter. BNP Paribas Financial Markets now owns 8,263 shares of the financial services provider’s stock valued at $139,000 after purchasing an additional 5,384 shares in the last quarter. Vanguard Group Inc. increased its stake in BRT Apartments by 1.6% in the first quarter. Vanguard Group Inc. now owns 616,467 shares of the financial services provider’s stock valued at $10,357,000 after purchasing an additional 9,483 shares in the last quarter. Clear Creek Financial Management LLC increased its stake in BRT Apartments by 4.7% in 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 purchasing an additional 680 shares in the last quarter. Bank of New York Mellon Corp increased its stake in BRT Apartments by 5.7% in the second quarter. Bank of New York Mellon Corp now owns 97,281 shares of the financial services provider’s stock valued at $1,699,000 after purchasing an additional 5,207 shares in the last quarter. Finally, ClariVest Asset Management LLC increased its stake in BRT Apartments by 2.9% in the second quarter. ClariVest Asset Management LLC now owns 44,767 shares of the financial services provider’s stock valued at $782,000 after purchasing an additional 1,251 shares in the last quarter. 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.