BRT Apartments Corp. (NYSE:BRT) announced a quarterly dividend on Tuesday, September 14th, Wall Street Journal reports. Investors of record on Friday, September 24th will be given a dividend of 0.23 per share by the financial services provider on Thursday, October 7th. This represents a $0.92 annualized dividend and a dividend yield of 4.78%. The ex-dividend date of this dividend is Thursday, September 23rd. This is a boost from BRT Apartments’s previous quarterly dividend of $0.22.
BRT Apartments has raised its dividend payment by 144.4% over the last three years and has increased its dividend every year for the last 1 years.
NYSE:BRT opened at $19.24 on Wednesday. BRT Apartments has a one year low of $11.05 and a one year high of $21.70. The company has a debt-to-equity ratio of 0.84, a quick ratio of 2.25 and a current ratio of 2.25. The stock has a market cap of $349.74 million, a PE ratio of -37.73, a P/E/G ratio of 3.08 and a beta of 1.27. The stock has a 50 day moving average price of $18.42 and a 200 day moving average price of $18.09.
Several equities research analysts recently commented on the company. Zacks Investment Research raised BRT Apartments from a “hold” rating to a “strong-buy” rating and set a $21.00 price target for the company in a report on Wednesday, August 18th. Colliers Securities assumed coverage on BRT Apartments in a research note on Friday, September 3rd. They set a “buy” rating and a $25.00 target price for the company. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, BRT Apartments currently has a consensus rating of “Buy” and a consensus target price of $21.60.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Millennium Management LLC acquired a new stake in shares of BRT Apartments in the second quarter valued at $280,000. Citadel Advisors LLC grew its stake in shares of BRT Apartments by 61.1% in the second quarter. Citadel Advisors LLC now owns 27,427 shares of the financial services provider’s stock valued at $476,000 after buying an additional 10,407 shares in the last quarter. Finally, Royal Bank of Canada grew its stake in shares of BRT Apartments by 33.6% in the second quarter. Royal Bank of Canada now owns 3,975 shares of the financial services provider’s stock valued at $69,000 after buying an additional 1,000 shares in the last quarter. 29.14% of the stock is owned by institutional investors and hedge funds.
About BRT Apartments
BRT Apartments Corp. is a real estate investment trust, which engages in the ownership, operation, and development of multi-family properties. Its properties include Brixworth at Bridge Street, Silvana Oaks Apartments, Avondale Station, Newbridge Commons, Kendall Manor, and Parkway Grande. The company was founded in 1972 and is headquartered in Great Neck, NY.
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