Noesis Capital Mangement Corp Makes New Investment in BRT Apartments Corp. (NYSE:BRT)

Noesis Capital Mangement Corp acquired a new stake in BRT Apartments Corp. (NYSE:BRT) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 10,000 shares of the financial services provider’s stock, valued at approximately $176,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. 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 valued at $10,357,000 after purchasing an additional 9,483 shares during the period. ClariVest Asset Management LLC grew its position in BRT Apartments by 2.9% during the second 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 in the last quarter. Bank of New York Mellon Corp increased its stake in BRT Apartments by 5.7% during 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 acquiring an additional 5,207 shares during the period. Meeder Asset Management Inc. acquired a new position in BRT Apartments in the 2nd quarter valued at approximately $28,000. Finally, Dimensional Fund Advisors LP lifted its position in shares of BRT Apartments by 2.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 157,884 shares of the financial services provider’s stock worth $2,758,000 after acquiring an additional 3,552 shares during the period. Institutional investors and hedge funds own 29.07% of the company’s stock.

Analyst Ratings Changes

Separately, B. Riley upped their target price on BRT Apartments from $20.50 to $21.00 and gave the company a “buy” rating in a research note on Thursday, September 12th.

BRT Apartments Stock Performance

NYSE BRT opened at $19.80 on Thursday. The stock has a market cap of $372.44 million, a P/E ratio of -37.36, a PEG ratio of 2.33 and a beta of 1.07. The company has a quick ratio of 1.94, a current ratio of 1.94 and a debt-to-equity ratio of 2.31. BRT Apartments Corp. has a twelve month low of $15.21 and a twelve month high of $20.22. The company’s 50-day simple moving average is $17.96 and its 200 day simple moving average is $17.92.

BRT Apartments (NYSE:BRT) last issued its quarterly earnings data on Thursday, November 7th. The financial services provider reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.47). The company had revenue of $24.40 million for the quarter, compared to the consensus estimate 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 in the previous year, the business posted $0.41 earnings per share. As a group, research analysts forecast that BRT Apartments Corp. will post 1.42 earnings per share for the current fiscal year.

BRT Apartments Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 2nd. Shareholders of record on Tuesday, September 24th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 5.05%. The ex-dividend date was Tuesday, September 24th. BRT Apartments’s dividend payout ratio is currently -188.68%.

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.