BRT Apartments Corp. (NYSE:BRT) to Issue Quarterly Dividend of $0.25

BRT Apartments Corp. (NYSE:BRT) announced a quarterly dividend on Wednesday, December 11th,NASDAQ Dividends reports. Investors of record on Monday, December 23rd will be given a dividend of 0.25 per share by the financial services provider on Monday, January 6th. This represents a $1.00 annualized dividend and a dividend yield of 5.34%. The ex-dividend date is Monday, December 23rd.

BRT Apartments has raised its dividend payment by an average of 65.7% per year over the last three years. BRT Apartments has a dividend payout ratio of -163.9% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect BRT Apartments to earn $1.50 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 66.7%.

BRT Apartments Trading Down 1.6 %

Shares of BRT stock opened at $18.74 on Friday. BRT Apartments has a fifty-two week low of $15.21 and a fifty-two week high of $20.22. The company has a 50 day moving average price of $18.22 and a 200 day moving average price of $18.04. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.94 and a current ratio of 1.94.

BRT Apartments (NYSE:BRT) last posted its earnings results on Thursday, November 7th. The financial services provider reported ($0.12) EPS for the quarter, missing the consensus estimate of $0.35 by ($0.47). The business had revenue of $24.40 million during the quarter, compared to analysts’ expectations of $23.80 million. BRT Apartments had a negative net margin of 9.94% and a negative return on equity of 4.33%. During the same period last year, the company earned $0.41 EPS. Sell-side analysts forecast that BRT Apartments will post 1.42 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, B. Riley upped their price objective on shares of BRT Apartments from $21.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday.

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.