Kovitz Investment Group Partners LLC Makes New $1.59 Million Investment in BRT Apartments Corp. (NYSE:BRT)

Kovitz Investment Group Partners LLC bought a new stake in BRT Apartments Corp. (NYSE:BRT) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 90,675 shares of the financial services provider’s stock, valued at approximately $1,594,000.

Several other hedge funds have also modified their holdings of BRT. Vanguard Group Inc. boosted its holdings in BRT Apartments by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 616,467 shares of the financial services provider’s stock worth $10,357,000 after acquiring an additional 9,483 shares during the period. Clear Creek Financial Management LLC boosted its stake in shares of 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 purchasing an additional 680 shares during the period. Bank of New York Mellon Corp grew its holdings in BRT Apartments by 5.7% during the 2nd 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 in the last quarter. ClariVest Asset Management LLC increased its stake in BRT Apartments by 2.9% during the 2nd quarter. ClariVest Asset Management LLC now owns 44,767 shares of the financial services provider’s stock worth $782,000 after buying an additional 1,251 shares during the period. Finally, Meeder Asset Management Inc. acquired a new position in BRT Apartments in the 2nd quarter worth $28,000. 29.07% of the stock is currently owned by hedge funds and other institutional investors.

BRT Apartments Trading Up 3.8 %

NYSE BRT opened at $19.18 on Wednesday. The company’s fifty day moving average price is $18.17 and its two-hundred day moving average price is $18.03. The company has a market capitalization of $360.70 million, a price-to-earnings ratio of -36.19, a price-to-earnings-growth ratio of 2.20 and a beta of 1.10. BRT Apartments Corp. has a 12 month low of $15.21 and a 12 month high of $20.22. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.94 and a quick 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) EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $24.40 million during the quarter, compared to analyst estimates of $23.80 million. During the same quarter last year, the business posted $0.41 earnings per share. As a group, research analysts predict that BRT Apartments Corp. will post 1.42 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, B. Riley lifted their target price on BRT Apartments from $21.00 to $22.00 and gave the stock a “buy” rating in a research report 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.