Nisa Investment Advisors LLC Reduces Position in BRT Apartments Corp. (NYSE:BRT)

Nisa Investment Advisors LLC decreased its holdings in BRT Apartments Corp. (NYSE:BRT) by 24.9% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,030 shares of the financial services provider’s stock after selling 1,665 shares during the quarter. Nisa Investment Advisors LLC’s holdings in BRT Apartments were worth $90,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of BRT. Meeder Asset Management Inc. purchased a new position in shares of BRT Apartments during the second quarter valued at approximately $28,000. BNP Paribas Financial Markets raised its stake in BRT Apartments by 187.0% during the 1st quarter. BNP Paribas Financial Markets now owns 8,263 shares of the financial services provider’s stock valued at $139,000 after buying an additional 5,384 shares during the last quarter. Clear Creek Financial Management LLC lifted its holdings in shares of BRT Apartments by 4.7% during the 2nd quarter. Clear Creek Financial Management LLC now owns 15,021 shares of the financial services provider’s stock valued at $262,000 after buying an additional 680 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of BRT Apartments by 9.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 20,466 shares of the financial services provider’s stock worth $344,000 after buying an additional 1,726 shares during the last quarter. Finally, Wealth Alliance grew its holdings in shares of BRT Apartments by 2.6% in the second quarter. Wealth Alliance now owns 27,146 shares of the financial services provider’s stock worth $474,000 after acquiring an additional 681 shares during the period. Institutional investors own 29.07% of the company’s stock.

BRT Apartments Stock Up 3.3 %

Shares of BRT stock opened at $18.58 on Friday. The company has a 50 day simple moving average of $17.79 and a two-hundred day simple moving average of $17.81. The stock has a market cap of $348.69 million, a P/E ratio of -37.92, a P/E/G ratio of 1.91 and a beta of 1.07. BRT Apartments Corp. has a 12 month low of $15.21 and a 12 month high of $20.12. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 2.14.

BRT Apartments (NYSE:BRT) last announced its quarterly earnings data on Friday, August 9th. The financial services provider reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.50). The company had revenue of $23.86 million for the quarter, compared to the consensus estimate of $23.45 million. BRT Apartments had a negative net margin of 9.24% and a negative return on equity of 3.89%. During the same quarter last year, the firm posted $0.37 earnings per share. On average, research analysts expect that BRT Apartments Corp. will post 1.42 earnings per share for the current year.

BRT Apartments Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 2nd. Shareholders of record on Tuesday, September 24th were paid a $0.25 dividend. The ex-dividend date was Tuesday, September 24th. This represents a $1.00 dividend on an annualized basis and a yield of 5.38%. BRT Apartments’s payout ratio is presently -204.08%.

Analyst Upgrades and Downgrades

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

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.