BRT Apartments Corp. (BRT) to Issue Quarterly Dividend of $0.25 on October 2nd

BRT Apartments Corp. (NYSE:BRT) announced a quarterly dividend on Tuesday, September 10th, Wall Street Journal reports. Shareholders of record on Tuesday, September 24th will be given a dividend of 0.25 per share by the financial services provider on Wednesday, October 2nd. This represents a $1.00 annualized dividend and a yield of 5.59%. The ex-dividend date of this dividend is Tuesday, September 24th.

BRT Apartments has increased its dividend by an average of 65.7% per year over the last three years. BRT Apartments has a dividend payout ratio of -204.1% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect BRT Apartments to earn $1.54 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 64.9%.

BRT Apartments Price Performance

BRT Apartments stock traded down $0.29 during trading on Thursday, reaching $17.88. The company had a trading volume of 2,178 shares, compared to its average volume of 33,003. The firm’s 50-day simple moving average is $18.15 and its 200 day simple moving average is $17.47. BRT Apartments has a 1-year low of $15.21 and a 1-year high of $20.12. The firm has a market capitalization of $333.30 million, a PE ratio of 82.59, a price-to-earnings-growth ratio of 2.02 and a beta of 1.07. The company has a debt-to-equity ratio of 2.14, a quick ratio of 0.90 and a current ratio of 0.90.

BRT Apartments (NYSE:BRT) last announced its quarterly earnings data on Friday, August 9th. The financial services provider reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.50). BRT Apartments had a negative net margin of 9.24% and a negative return on equity of 3.89%. The firm had revenue of $23.86 million during the quarter, compared to analysts’ expectations of $23.45 million. During the same quarter in the previous year, the business posted $0.37 EPS. As a group, equities research analysts anticipate that BRT Apartments will post 1.5 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. B. Riley raised their price objective on BRT Apartments from $20.50 to $21.00 and gave the stock a “buy” rating in a research report on Thursday. JMP Securities reissued a “market outperform” rating and set a $24.00 price objective on shares of BRT Apartments in a research report on Tuesday, May 21st.

BRT Apartments Company Profile

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.