BRT Apartments Corp. (BRT) to Issue Quarterly Dividend of $0.25 on April 4th

BRT Apartments Corp. (NYSE:BRT) announced a quarterly dividend on Tuesday, March 11th, RTT News reports. Shareholders of record on Thursday, March 27th will be paid 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 5.32%. The ex-dividend date is Thursday, March 27th.

BRT Apartments has raised its dividend payment by an average of 3.6% per year over the last three years. BRT Apartments has a payout ratio of -222.2% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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

NYSE BRT opened at $18.81 on Thursday. The stock has a 50-day simple moving average of $17.58 and a two-hundred day simple moving average of $18.02. The firm has a market capitalization of $353.74 million, a P/E ratio of -35.49 and a beta of 1.11. BRT Apartments has a fifty-two week low of $15.47 and a fifty-two week high of $20.22. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.94 and a current ratio of 1.94.

Analysts Set New Price Targets

Separately, B. Riley lifted their price target on BRT Apartments from $21.00 to $22.00 and gave the company a “buy” rating in a research note 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.