BRT Apartments (NYSE:BRT) Given New $22.00 Price Target at B. Riley

BRT Apartments (NYSE:BRT - Get Free Report) had its price target boosted by equities researchers at B. Riley from $21.00 to $22.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a "buy" rating on the financial services provider's stock. B. Riley's price target points to a potential upside of 14.70% from the stock's previous close.

BRT Apartments Trading Up 3.8 %

NYSE BRT traded up $0.71 on Tuesday, hitting $19.18. 45,245 shares of the stock were exchanged, compared to its average volume of 35,876. The company's 50-day moving average price is $18.15 and its two-hundred day moving average price is $18.02. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.94 and a quick ratio of 1.94. BRT Apartments has a 52-week low of $15.21 and a 52-week high of $20.22. The company has a market capitalization of $360.70 million, a price-to-earnings ratio of -35.38, a P/E/G ratio of 2.20 and a beta of 1.10.

BRT Apartments (NYSE:BRT - Get Free Report) last posted its quarterly earnings results on Thursday, November 7th. The financial services provider reported ($0.12) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.35 by ($0.47). BRT Apartments had a negative return on equity of 4.33% and a negative net margin of 9.94%. The company had revenue of $24.40 million during the quarter, compared to analysts' expectations of $23.80 million. During the same period last year, the company earned $0.41 earnings per share. Research analysts predict that BRT Apartments will post 1.42 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake 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 buying an additional 9,483 shares in the last quarter. Clear Creek Financial Management LLC increased its stake in shares of BRT Apartments by 4.7% during the 2nd quarter. Clear Creek Financial Management LLC now owns 15,021 shares of the financial services provider's stock worth $262,000 after purchasing an additional 680 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of BRT Apartments by 5.7% during the 2nd 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 in the last quarter. ClariVest Asset Management LLC lifted its stake in shares of BRT Apartments by 2.9% in the 2nd quarter. ClariVest Asset Management LLC now owns 44,767 shares of the financial services provider's stock valued at $782,000 after purchasing an additional 1,251 shares during the last quarter. Finally, Meeder Asset Management Inc. bought a new stake in BRT Apartments in the second quarter worth $28,000. 29.07% of the stock is owned by institutional investors and hedge funds.

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.