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

BRT Apartments Corp. (NYSE:BRT) declared a quarterly dividend on Wednesday, December 11th,NASDAQ Dividends reports. Investors of record on Monday, December 23rd will be given a dividend of 0.25 per share by the financial services provider on Monday, January 6th. This represents a $1.00 annualized dividend and a yield of 5.34%. The ex-dividend date of this dividend is Monday, December 23rd.

BRT Apartments has increased its dividend by an average of 65.7% per year over the last three years. BRT Apartments has a payout ratio of -163.9% meaning 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 $1.50 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 66.7%.

BRT Apartments Trading Down 1.6 %

BRT stock traded down $0.30 during trading on Thursday, hitting $18.74. The company had a trading volume of 25,202 shares, compared to its average volume of 35,854. The firm has a market capitalization of $352.42 million, a P/E ratio of -36.00, a PEG ratio of 2.20 and a beta of 1.10. BRT Apartments has a 52-week low of $15.21 and a 52-week high of $20.22. The company has a 50 day simple moving average of $18.19 and a 200-day simple moving average of $18.04. The company has a quick ratio of 1.94, a current ratio of 1.94 and a debt-to-equity ratio of 2.31.

BRT Apartments (NYSE:BRT) last posted its quarterly earnings results on Thursday, November 7th. The financial services provider reported ($0.12) EPS for the quarter, missing the consensus estimate of $0.35 by ($0.47). The company had revenue of $24.40 million during the quarter, compared to analysts’ expectations of $23.80 million. BRT Apartments had a negative return on equity of 4.33% and a negative net margin of 9.94%. During the same period in the prior year, the business earned $0.41 EPS. As a group, research analysts forecast that BRT Apartments will post 1.42 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, B. Riley increased their target price on shares of BRT Apartments from $21.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday.

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.