BRT Apartments Corp. (NYSE:BRT) Short Interest Up 8.6% in November

BRT Apartments Corp. (NYSE:BRT) was the recipient of a large growth in short interest in the month of November. As of November 15th, there was short interest totalling 105,100 shares, a growth of 8.6% from the October 31st total of 96,800 shares. Currently, 1.0% of the company’s shares are sold short. Based on an average daily volume of 40,700 shares, the short-interest ratio is currently 2.6 days.

BRT Apartments Stock Performance

Shares of BRT stock traded down $0.15 during trading on Wednesday, hitting $19.24. The company’s stock had a trading volume of 6,529 shares, compared to its average volume of 35,831. The company has a current ratio of 1.94, a quick ratio of 1.94 and a debt-to-equity ratio of 2.31. The company has a market cap of $361.90 million, a PE ratio of -36.30, a P/E/G ratio of 2.33 and a beta of 1.11. The business has a fifty day moving average of $18.06 and a 200-day moving average of $17.98. BRT Apartments has a 52 week low of $15.21 and a 52 week high of $20.22.

BRT Apartments (NYSE:BRT) last issued its quarterly earnings results on Thursday, November 7th. The financial services provider reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $23.80 million. During the same quarter in the previous year, the business earned $0.41 EPS. As a group, research analysts anticipate that BRT Apartments will post 1.42 earnings per share for the current year.

BRT Apartments Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 2nd. Investors of record on Tuesday, September 24th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 5.20%. The ex-dividend date of this dividend was Tuesday, September 24th. BRT Apartments’s dividend payout ratio (DPR) is presently -188.68%.

Wall Street Analyst Weigh In

Separately, B. Riley raised their price objective on shares of BRT Apartments from $20.50 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, September 12th.

Institutional Investors Weigh In On BRT Apartments

A number of institutional investors and hedge funds have recently made changes to their positions in BRT. Vanguard Group Inc. lifted 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 acquiring an additional 9,483 shares during the last quarter. ClariVest Asset Management LLC lifted its position in BRT Apartments by 2.9% in the second 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. Bank of New York Mellon Corp lifted its position in BRT Apartments by 5.7% in the second 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 during the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of BRT Apartments during the second quarter valued at approximately $28,000. Finally, Dimensional Fund Advisors LP grew its holdings 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 last quarter. Hedge funds and other institutional investors own 29.07% of the company’s stock.

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.