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

BRT Apartments Corp. (NYSE:BRT) declared a quarterly dividend on Tuesday, March 11th, RTT News reports. Shareholders of record on Thursday, March 27th will be given 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 yield of 5.49%. The ex-dividend date of this dividend is Thursday, March 27th.

BRT Apartments has increased its dividend payment by an average of 3.6% per year over the last three years. BRT Apartments has a dividend payout ratio of -303.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities 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

BRT opened at $18.22 on Tuesday. BRT Apartments has a 1 year low of $15.81 and a 1 year high of $20.22. The company has a market capitalization of $344.85 million, a PE ratio of -34.37 and a beta of 1.11. The business has a fifty day simple moving average of $17.68 and a 200 day simple moving average of $17.98. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.94 and a quick ratio of 1.94.

Analyst Ratings Changes

Several brokerages have weighed in on BRT. Colliers Securities cut BRT Apartments from a “buy” rating to a “neutral” rating in a report on Thursday, March 13th. B. Riley upped their price objective on shares of BRT Apartments from $21.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th.

About BRT Apartments

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.