StockNews.com Downgrades BRT Apartments (NYSE:BRT) to Sell

StockNews.com cut shares of BRT Apartments (NYSE:BRT - Free Report) from a hold rating to a sell rating in a research note published on Tuesday.

A number of other brokerages also recently weighed in on BRT. B. Riley lowered their target price on shares of BRT Apartments from $22.00 to $21.00 and set a "buy" rating for the company in a research note on Thursday, March 27th. Colliers Securities downgraded shares of BRT Apartments from a "buy" rating to a "neutral" rating in a research report on Thursday, March 13th.

BRT Apartments Price Performance

Shares of NYSE BRT traded down $0.53 during mid-day trading on Tuesday, hitting $15.96. 73,419 shares of the stock traded hands, compared to its average volume of 32,860. The firm has a 50 day simple moving average of $17.65 and a two-hundred day simple moving average of $17.92. BRT Apartments has a twelve month low of $15.81 and a twelve month high of $20.22. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.94 and a quick ratio of 1.94. The company has a market cap of $302.03 million, a PE ratio of -30.10 and a beta of 1.11.

BRT Apartments Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Thursday, March 27th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, March 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.27%. BRT Apartments's payout ratio is -188.68%.

Remove Ads

Insider Transactions at BRT Apartments

In other BRT Apartments news, CFO George Zweier sold 2,143 shares of BRT Apartments stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $18.06, for a total transaction of $38,702.58. Following the completion of the sale, the chief financial officer now owns 120,797 shares of the company's stock, valued at $2,181,593.82. The trade was a 1.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 40.20% of the company's stock.

Institutional Investors Weigh In On BRT Apartments

A number of large investors have recently added to or reduced their stakes in the company. Tidal Investments LLC lifted its stake in shares of BRT Apartments by 5.2% in the 4th quarter. Tidal Investments LLC now owns 19,168 shares of the financial services provider's stock valued at $346,000 after purchasing an additional 952 shares during the period. Bank of America Corp DE boosted its position in shares of BRT Apartments by 26.1% during the fourth quarter. Bank of America Corp DE now owns 17,557 shares of the financial services provider's stock valued at $317,000 after buying an additional 3,638 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in shares of BRT Apartments by 131.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,745 shares of the financial services provider's stock worth $31,000 after acquiring an additional 991 shares during the period. Barclays PLC increased its position in BRT Apartments by 15.4% during the fourth quarter. Barclays PLC now owns 16,953 shares of the financial services provider's stock valued at $306,000 after acquiring an additional 2,263 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in BRT Apartments in the fourth quarter worth approximately $795,000. Institutional investors own 29.07% of the company's stock.

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.