B. Riley Cuts BRT Apartments (NYSE:BRT) Price Target to $21.00

BRT Apartments (NYSE:BRT) had its target price reduced by analysts at B. Riley from $22.00 to $21.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the financial services provider’s stock. B. Riley’s price target would indicate a potential upside of 17.81% from the stock’s previous close.

Separately, Colliers Securities downgraded BRT Apartments from a “buy” rating to a “neutral” rating in a report on Thursday, March 13th.

BRT Apartments Stock Performance

BRT traded up $0.08 during midday trading on Thursday, hitting $17.83. 6,551 shares of the company were exchanged, compared to its average volume of 24,311. The firm has a market capitalization of $337.45 million, a price-to-earnings ratio of -33.63 and a beta of 1.11. The company’s 50 day simple moving average is $17.70 and its 200 day simple moving average is $17.98. 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 $15.92 and a 1-year high of $20.22.

Hedge Funds Weigh In On BRT Apartments

Several institutional investors and hedge funds have recently modified their holdings of BRT. Vanguard Group Inc. raised its stake in shares of BRT Apartments by 62.7% during the 4th quarter. Vanguard Group Inc. now owns 1,113,057 shares of the financial services provider’s stock worth $20,068,000 after buying an additional 429,046 shares during the period. Kovitz Investment Group Partners LLC purchased a new stake in BRT Apartments in the 3rd quarter worth $1,594,000. Raymond James Financial Inc. acquired a new position in BRT Apartments during the fourth quarter worth $795,000. Wealth Alliance lifted its holdings in BRT Apartments by 141.7% during the fourth quarter. Wealth Alliance now owns 65,621 shares of the financial services provider’s stock valued at $1,183,000 after purchasing an additional 38,475 shares in the last quarter. Finally, Tidal Investments LLC acquired a new stake in shares of BRT Apartments in the third quarter valued at about $320,000. Hedge funds and other institutional investors own 29.07% of the company’s stock.

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.