BRT Apartments Corp. to Issue Quarterly Dividend of $0.25 (NYSE:BRT)

BRT Apartments Corp. (NYSE:BRT) declared a quarterly dividend on Tuesday, March 11th, RTT News reports. Investors of record on Thursday, March 27th will be paid a dividend of 0.25 per share by the financial services provider on Friday, April 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.67%.

BRT Apartments has increased its dividend by an average of 3.6% annually over the last three years. BRT Apartments has a payout ratio of -222.2% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect BRT Apartments to earn $1.45 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 69.0%.

BRT Apartments Stock Performance

NYSE BRT traded up $0.07 on Tuesday, reaching $17.65. 29,660 shares of the stock were exchanged, compared to its average volume of 21,655. 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 one year low of $15.47 and a one year high of $20.22. The firm has a market capitalization of $331.83 million, a PE ratio of -33.29 and a beta of 1.11. The company’s 50-day simple moving average is $17.58 and its two-hundred day simple moving average is $18.02.

Wall Street Analysts Forecast Growth

Separately, B. Riley lifted their target price on shares of BRT Apartments from $21.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th.

BRT Apartments Company Profile

BRT Apartments Corp. is a real estate investment trust. It engages in the ownership, operation, and holding interests in joint ventures that own and operate multi-family properties. The company was founded in June 1972 and is headquartered in Great Neck, NY.