BRT Apartments Corp. (NYSE:BRT) Sees Large Growth in Short Interest

BRT Apartments Corp. (NYSE:BRT) was the target of a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 99,500 shares, an increase of 22.2% from the August 15th total of 81,400 shares. Based on an average daily trading volume, of 27,500 shares, the days-to-cover ratio is currently 3.6 days. Approximately 0.9% of the shares of the stock are short sold.

BRT Apartments Stock Up 0.4 %

Shares of BRT opened at $19.08 on Tuesday. BRT Apartments has a 52 week low of $15.21 and a 52 week high of $20.12. The stock has a fifty day moving average of $18.26 and a 200-day moving average of $17.55. 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 capitalization of $355.67 million, a price-to-earnings ratio of 86.73, a PEG ratio of 2.02 and a beta of 1.07.

BRT Apartments (NYSE:BRT) last released its quarterly earnings results 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 firm had revenue of $23.86 million for the quarter, compared to the consensus estimate 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 posted $0.37 earnings per share. As a group, sell-side analysts anticipate that BRT Apartments will post 1.5 earnings per share for the current fiscal year.

BRT Apartments Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Tuesday, September 24th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 5.24%. The ex-dividend date of this dividend is Tuesday, September 24th. BRT Apartments’s dividend payout ratio (DPR) is currently 454.55%.

Analysts Set New Price Targets

Several research analysts have commented on the company. JMP Securities reissued a “market outperform” rating and set a $24.00 target price on shares of BRT Apartments in a research note on Tuesday, May 21st. B. Riley lifted their price target on shares of BRT Apartments from $20.50 to $21.00 and gave the company a “buy” rating in a report on Thursday, September 12th.

Hedge Funds Weigh In On BRT Apartments

Large investors have recently modified their holdings of the business. Oppenheimer & Close LLC increased its holdings in BRT Apartments by 3.4% in the first quarter. Oppenheimer & Close LLC now owns 347,774 shares of the financial services provider’s stock valued at $5,843,000 after purchasing an additional 11,287 shares during the period. Vanguard Group Inc. increased its stake in shares of 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 buying an additional 9,483 shares during the period. BNP Paribas Financial Markets raised its position in shares of BRT Apartments by 187.0% during the first quarter. BNP Paribas Financial Markets now owns 8,263 shares of the financial services provider’s stock worth $139,000 after acquiring an additional 5,384 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of 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 worth $1,699,000 after acquiring an additional 5,207 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in 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 acquiring an additional 3,552 shares during the last quarter. Institutional investors 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.