BRT Apartments (NYSE:BRT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The firm currently has a $13.00 price target on the financial services provider’s stock. Zacks Investment Research‘s target price points to a potential upside of 14.64% from the company’s previous close.
According to Zacks, “BRT is a real estate investment trust. BRT’s primary business activity is to originate and hold for investment for its own account, senior real estate mortgage loans secured by income producing real property and, to a lesser extent, junior real estate mortgage loans secured by income producing real property and senior mortgage loans secured by undeveloped real property. “
Several other analysts also recently weighed in on BRT. B. Riley reiterated a “buy” rating on shares of BRT Apartments in a research report on Wednesday, November 1st. TheStreet upgraded BRT Apartments from a “d+” rating to a “c-” rating in a research report on Tuesday, September 26th. Janney Montgomery Scott began coverage on BRT Apartments in a research report on Friday, September 29th. They set a “neutral” rating and a $10.50 target price for the company. Finally, FBR & Co began coverage on BRT Apartments in a research report on Thursday, October 26th. They set a “buy” rating and a $11.75 target price for the company. One analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $11.94.
BRT Apartments announced that its board has authorized a stock repurchase plan on Tuesday, September 12th that permits the company to repurchase $5.00 million in shares. This repurchase authorization permits the financial services provider to repurchase up to 3.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
Hedge funds have recently added to or reduced their stakes in the stock. Stifel Financial Corp bought a new stake in shares of BRT Apartments in the third quarter valued at about $108,000. Northern Trust Corp raised its holdings in shares of BRT Apartments by 2.2% in the second quarter. Northern Trust Corp now owns 54,555 shares of the financial services provider’s stock valued at $429,000 after acquiring an additional 1,200 shares in the last quarter. B. Riley Financial Inc. raised its holdings in shares of BRT Apartments by 6.2% in the third quarter. B. Riley Financial Inc. now owns 87,631 shares of the financial services provider’s stock valued at $939,000 after acquiring an additional 5,119 shares in the last quarter. Finally, Oppenheimer & Close LLC raised its holdings in shares of BRT Apartments by 38.4% in the third quarter. Oppenheimer & Close LLC now owns 259,116 shares of the financial services provider’s stock valued at $2,777,000 after acquiring an additional 71,924 shares in the last quarter. Hedge funds and other institutional investors own 22.06% of the company’s stock.
ILLEGAL ACTIVITY NOTICE: “BRT Apartments (BRT) Stock Rating Upgraded by Zacks Investment Research” was first posted by Sports Perspectives and is the property of of Sports Perspectives. If you are reading this report on another domain, it was illegally stolen and reposted in violation of U.S. and international trademark & copyright laws. The original version of this report can be read at https://sportsperspectives.com/2017/12/19/brt-apartments-brt-stock-rating-upgraded-by-zacks-investment-research.html.
BRT Apartments Company Profile
BRT Apartments Corp. is a real estate investment trust (REIT). The Trust is focused on the ownership, operation and development of multi-family properties. These activities are primarily conducted through joint ventures in which the Trust has an equity interest in the entity owning the property. The Trust’s segments include Multi-Family Real Estate and Other Assets.
Receive News & Ratings for BRT Apartments Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BRT Apartments and related companies with MarketBeat.com's FREE daily email newsletter.