BRT Apartments (NYSE:BRT) Share Price Passes Above Two Hundred Day Moving Average - Here's What Happened

BRT Apartments Corp. (NYSE:BRT - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $17.77 and traded as high as $17.90. BRT Apartments shares last traded at $17.46, with a volume of 18,239 shares.

Analyst Ratings Changes

Separately, B. Riley increased their price target on BRT Apartments from $20.50 to $21.00 and gave the company a "buy" rating in a research note on Thursday, September 12th.

BRT Apartments Stock Performance

The firm has a market cap of $324.35 million, a price-to-earnings ratio of 79.36, a price-to-earnings-growth ratio of 2.16 and a beta of 1.06. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 2.14. The stock's 50 day moving average is $18.20 and its 200 day moving average is $17.77.

BRT Apartments (NYSE:BRT - Get Free Report) last released its quarterly earnings results on Friday, August 9th. The financial services provider reported ($0.13) earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $23.86 million for the quarter, compared to analyst estimates of $23.45 million. During the same period in the previous year, the business posted $0.37 earnings per share. Analysts anticipate that BRT Apartments Corp. will post 1.42 earnings per share for the current year.

BRT Apartments Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 2nd. Stockholders of record on Tuesday, September 24th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, September 24th. This represents a $1.00 annualized dividend and a dividend yield of 5.75%. BRT Apartments's dividend payout ratio is presently 454.55%.

Institutional Investors Weigh In On BRT Apartments

Several institutional investors have recently made changes to their positions in BRT. Wealth Alliance raised its holdings in BRT Apartments by 2.6% in the 2nd quarter. Wealth Alliance now owns 27,146 shares of the financial services provider's stock valued at $474,000 after acquiring an additional 681 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of 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 worth $2,758,000 after purchasing an additional 3,552 shares during the period. Meeder Asset Management Inc. acquired a new position in BRT Apartments in the second quarter valued at about $28,000. ClariVest Asset Management LLC lifted its position in BRT Apartments by 2.9% during the second quarter. ClariVest Asset Management LLC now owns 44,767 shares of the financial services provider's stock worth $782,000 after purchasing an additional 1,251 shares during the period. Finally, Bank of New York Mellon Corp grew its stake 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 worth $1,699,000 after buying an additional 5,207 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.