Brokers Issue Forecasts for BRT Apartments Corp.’s Q3 2024 Earnings (NYSE:BRT)

BRT Apartments Corp. (NYSE:BRT) – Equities research analysts at B. Riley cut their Q3 2024 earnings per share estimates for BRT Apartments in a research report issued to clients and investors on Thursday, September 12th. B. Riley analyst J. Massocca now expects that the financial services provider will post earnings of $0.35 per share for the quarter, down from their prior forecast of $0.38. B. Riley currently has a “Buy” rating and a $21.00 price target on the stock. The consensus estimate for BRT Apartments’ current full-year earnings is $1.50 per share. B. Riley also issued estimates for BRT Apartments’ Q4 2024 earnings at $0.37 EPS, FY2024 earnings at $1.42 EPS and FY2025 earnings at $1.50 EPS.

Separately, JMP Securities reissued a “market outperform” rating and issued a $24.00 target price on shares of BRT Apartments in a research note on Tuesday, May 21st.

BRT Apartments Stock Performance

BRT stock opened at $18.89 on Monday. The company has a 50 day moving average price of $18.30 and a 200 day moving average price of $17.57. BRT Apartments has a fifty-two week low of $15.21 and a fifty-two week high of $20.12. The company has a debt-to-equity ratio of 2.14, a current ratio of 0.90 and a quick ratio of 0.90. The stock has a market capitalization of $352.13 million, a PE ratio of 85.86, a price-to-earnings-growth ratio of 2.02 and a beta of 1.07.

BRT Apartments (NYSE:BRT) last announced its earnings results on Friday, August 9th. The financial services provider reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.50). BRT Apartments had a negative return on equity of 3.89% and a negative net margin of 9.24%. The company had revenue of $23.86 million during the quarter, compared to the consensus estimate of $23.45 million. During the same period in the prior year, the firm posted $0.37 earnings per share.

BRT Apartments Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Tuesday, September 24th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.29%. The ex-dividend date is Tuesday, September 24th. BRT Apartments’s dividend payout ratio (DPR) is currently 454.55%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in BRT. Oppenheimer & Close LLC boosted its holdings in BRT Apartments by 3.4% during the first quarter. Oppenheimer & Close LLC now owns 347,774 shares of the financial services provider’s stock worth $5,843,000 after buying an additional 11,287 shares during the last quarter. Vanguard Group Inc. raised its position in shares of BRT Apartments by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 616,467 shares of the financial services provider’s stock valued at $10,357,000 after acquiring an additional 9,483 shares during the period. BNP Paribas Financial Markets boosted its stake in BRT Apartments by 187.0% during the 1st 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 grew its holdings in BRT Apartments by 5.7% during the second quarter. Bank of New York Mellon Corp now owns 97,281 shares of the financial services provider’s stock valued at $1,699,000 after purchasing an additional 5,207 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake 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 purchasing an additional 3,552 shares in the last quarter. 29.07% of the stock is currently owned by institutional investors.

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.