B. Riley Issues Positive Forecast for BRT Apartments (NYSE:BRT) Stock Price

BRT Apartments (NYSE:BRT) had its target price raised by B. Riley from $21.00 to $22.00 in a report released on Tuesday morning,Benzinga reports. B. Riley currently has a buy rating on the financial services provider’s stock.

BRT Apartments Price Performance

Shares of NYSE BRT opened at $19.18 on Tuesday. BRT Apartments has a fifty-two week low of $15.21 and a fifty-two week high of $20.22. The stock has a market cap of $360.70 million, a price-to-earnings ratio of -36.19, a PEG ratio of 2.20 and a beta of 1.10. The firm’s 50-day simple moving average is $18.17 and its 200 day simple moving average is $18.03. 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 quarterly earnings results on Thursday, November 7th. The financial services provider reported ($0.12) earnings per share 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 the consensus estimate of $23.80 million. BRT Apartments had a negative return on equity of 4.33% and a negative net margin of 9.94%. During the same period in the prior year, the firm earned $0.41 earnings per share. As a group, research analysts anticipate that BRT Apartments will post 1.42 earnings per share for the current fiscal year.

Institutional Trading of BRT Apartments

Institutional investors have recently made changes to their positions in the stock. Meeder Asset Management Inc. purchased a new stake in shares of BRT Apartments during the second quarter worth about $28,000. Noesis Capital Mangement Corp bought a new position in shares of BRT Apartments during the third quarter valued at approximately $176,000. Barclays PLC lifted its stake in BRT Apartments by 295.2% in the third quarter. Barclays PLC now owns 14,690 shares of the financial services provider’s stock worth $258,000 after acquiring an additional 10,973 shares during the period. Clear Creek Financial Management LLC boosted its holdings in BRT Apartments by 4.7% in the second quarter. Clear Creek Financial Management LLC now owns 15,021 shares of the financial services provider’s stock valued at $262,000 after acquiring an additional 680 shares in the last quarter. Finally, Tidal Investments LLC purchased a new position in BRT Apartments during the 3rd quarter valued at $320,000. 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.