BRT Apartments (NYSE:BRT) Shares Up 9.3%

BRT Apartments Corp (NYSE:BRT)’s share price shot up 9.3% during trading on Friday . The company traded as high as $14.13 and last traded at $14.13. 153,114 shares changed hands during trading, an increase of 514% from the average session volume of 24,919 shares. The stock had previously closed at $12.93.

A number of brokerages recently commented on BRT. Zacks Investment Research raised BRT Apartments from a “sell” rating to a “hold” rating in a research note on Friday, March 29th. DA Davidson began coverage on BRT Apartments in a research note on Thursday, March 28th. They set a “buy” rating and a $16.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. BRT Apartments has a consensus rating of “Hold” and a consensus target price of $15.17.

The company has a market capitalization of $224.82 million, a price-to-earnings ratio of 15.70 and a beta of 0.67. The firm’s 50 day moving average is $13.30. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 2.96.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 9th. Stockholders of record on Tuesday, June 25th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 5.66%. The ex-dividend date is Monday, June 24th. BRT Apartments’s payout ratio is 82.47%.

Large investors have recently bought and sold shares of the company. BNP Paribas Arbitrage SA lifted its stake in shares of BRT Apartments by 534.1% in the 1st quarter. BNP Paribas Arbitrage SA now owns 2,137 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 1,800 shares during the last quarter. LSV Asset Management lifted its stake in shares of BRT Apartments by 18.7% in the 1st quarter. LSV Asset Management now owns 7,119 shares of the financial services provider’s stock valued at $98,000 after purchasing an additional 1,119 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of BRT Apartments in the 1st quarter valued at approximately $141,000. Janney Montgomery Scott LLC bought a new stake in shares of BRT Apartments in the 1st quarter valued at approximately $168,000. Finally, Hancock Whitney Corp bought a new stake in shares of BRT Apartments in the 4th quarter valued at approximately $151,000. 31.38% of the stock is owned by institutional investors and hedge funds.

About BRT Apartments (NYSE:BRT)

BRT is a real estate investment trust that owns, operates and develops multi-family properties. Interested parties are urged to review the Form 10-Q filed with the Securities and Exchange Commission for the quarter ended December 31, 2018 and the supplemental disclosures regarding the quarter on the investor relations section of the Company's website.

Further Reading: What Does a Sell-Side Analyst Rating Mean?

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