BRT Apartments Corp (NYSE:BRT) Sees Large Drop in Short Interest

BRT Apartments Corp (NYSE:BRT) was the recipient of a significant decline in short interest in the month of July. As of July 31st, there was short interest totalling 92,500 shares, a decline of 7.9% from the June 30th total of 100,400 shares. Based on an average daily volume of 22,000 shares, the short-interest ratio is currently 4.2 days. Currently, 1.0% of the company’s shares are short sold.

Shares of NYSE BRT opened at $14.37 on Friday. The company has a debt-to-equity ratio of 3.22, a quick ratio of 1.48 and a current ratio of 1.10. The firm has a market capitalization of $216.83 million, a price-to-earnings ratio of 14.81 and a beta of 0.73. The stock has a 50 day moving average price of $13.62 and a 200 day moving average price of $13.54. BRT Apartments has a 52-week low of $10.91 and a 52-week high of $14.40.

BRT Apartments (NYSE:BRT) last announced its quarterly earnings results on Wednesday, August 7th. The financial services provider reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.48). The firm had revenue of $33.12 million during the quarter, compared to analysts’ expectations of $32.27 million. BRT Apartments had a negative net margin of 2.84% and a negative return on equity of 1.25%. Analysts forecast that BRT Apartments will post 0.79 earnings per share for the current year.

A number of brokerages recently issued reports on BRT. Zacks Investment Research lowered BRT Apartments from a “buy” rating to a “hold” rating in a report on Thursday. National Securities began coverage on BRT Apartments in a report on Wednesday, July 24th. They issued a “buy” rating for the company. Finally, DA Davidson reiterated a “buy” rating on shares of BRT Apartments in a report on Monday, July 29th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $15.17.

Several hedge funds and other institutional investors have recently made changes to their positions in BRT. First Manhattan Co. increased its holdings in BRT Apartments by 0.6% in the 2nd quarter. First Manhattan Co. now owns 207,927 shares of the financial services provider’s stock valued at $2,938,000 after purchasing an additional 1,300 shares during the last quarter. Morgan Stanley boosted its position in BRT Apartments by 51.4% in the 2nd quarter. Morgan Stanley now owns 23,095 shares of the financial services provider’s stock valued at $326,000 after buying an additional 7,841 shares during the period. Vanguard Group Inc. boosted its position in BRT Apartments by 8.9% in the 2nd quarter. Vanguard Group Inc. now owns 467,359 shares of the financial services provider’s stock valued at $6,604,000 after buying an additional 38,256 shares during the period. BlackRock Inc. boosted its position in BRT Apartments by 2.4% in the 2nd quarter. BlackRock Inc. now owns 913,362 shares of the financial services provider’s stock valued at $12,907,000 after buying an additional 21,067 shares during the period. Finally, Northern Trust Corp boosted its position in BRT Apartments by 2.9% in the 2nd quarter. Northern Trust Corp now owns 140,111 shares of the financial services provider’s stock valued at $1,980,000 after buying an additional 3,965 shares during the period. Hedge funds and other institutional investors own 31.05% of the company’s stock.

About BRT Apartments

BRT is a real estate investment trust that owns, operates and develops multi-family properties. Interested parties are urged to review the Form 10-Q filed with the Securities and Exchange Commission for the quarter ended December 31, 2018 and the supplemental disclosures regarding the quarter on the investor relations section of the Company's website.

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