BRT Apartments (NYSE:BRT) Rating Lowered to Hold at Zacks Investment Research

Zacks Investment Research cut shares of BRT Apartments (NYSE:BRT) from a buy rating to a hold rating in a research note released on Thursday, Zacks.com reports.

According to Zacks, “BRT is a real estate investment trust. BRT’s primary business activity is to originate and hold for investment for its own account, senior real estate mortgage loans secured by income producing real property and, to a lesser extent, junior real estate mortgage loans secured by income producing real property and senior mortgage loans secured by undeveloped real property. “

BRT has been the topic of a number of other research reports. DA Davidson reiterated a buy rating on shares of BRT Apartments in a research note on Monday, July 29th. National Securities initiated coverage on BRT Apartments in a research note on Wednesday, July 24th. They issued a buy rating on the stock. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of Buy and an average price target of $15.17.

NYSE:BRT opened at $14.37 on Thursday. The company has a debt-to-equity ratio of 3.22, a quick ratio of 1.48 and a current ratio of 1.10. The stock’s fifty day moving average is $13.62 and its 200 day moving average is $13.54. BRT Apartments has a fifty-two week low of $10.91 and a fifty-two week high of $14.40. The firm has a market capitalization of $221.60 million, a PE ratio of 14.81 and a beta of 0.73.

BRT Apartments (NYSE:BRT) last released its earnings results on Wednesday, August 7th. The financial services provider reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.48). BRT Apartments had a negative return on equity of 1.25% and a negative net margin of 2.84%. The business had revenue of $33.12 million during the quarter, compared to analysts’ expectations of $32.27 million. Equities analysts forecast that BRT Apartments will post 0.79 EPS for the current year.

Hedge funds have recently added to or reduced their stakes in the business. First Manhattan Co. raised its position in BRT Apartments by 0.6% in the second quarter. First Manhattan Co. now owns 207,927 shares of the financial services provider’s stock valued at $2,938,000 after purchasing an additional 1,300 shares during the period. Morgan Stanley raised its position in BRT Apartments by 51.4% in the second quarter. Morgan Stanley now owns 23,095 shares of the financial services provider’s stock valued at $326,000 after purchasing an additional 7,841 shares during the period. Vanguard Group Inc. raised its position in BRT Apartments by 8.9% in the second quarter. Vanguard Group Inc. now owns 467,359 shares of the financial services provider’s stock valued at $6,604,000 after purchasing an additional 38,256 shares during the period. BlackRock Inc. raised its position in BRT Apartments by 2.4% in the second quarter. BlackRock Inc. now owns 913,362 shares of the financial services provider’s stock valued at $12,907,000 after purchasing an additional 21,067 shares during the period. Finally, Northern Trust Corp raised its position in BRT Apartments by 2.9% in the second quarter. Northern Trust Corp now owns 140,111 shares of the financial services provider’s stock valued at $1,980,000 after purchasing an additional 3,965 shares during the period. Institutional investors and hedge funds own 31.05% of the company’s stock.

About BRT Apartments

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: How is a buy-side analyst different from a sell-side analyst?

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