BRT Apartments (BRT) Upgraded to Strong-Buy by Zacks Investment Research

BRT Apartments (NYSE:BRT) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Wednesday. The brokerage presently has a $16.00 price target on the financial services provider’s stock. Zacks Investment Research‘s target price suggests a potential upside of 14.61% from the stock’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. “

Other equities analysts also recently issued research reports about the stock. JMP Securities assumed coverage on shares of BRT Apartments in a research note on Thursday, June 28th. They issued an “outperform” rating and a $16.00 target price on the stock. TheStreet raised shares of BRT Apartments from a “c” rating to a “b-” rating in a research note on Friday, June 22nd. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. BRT Apartments presently has an average rating of “Buy” and a consensus price target of $13.65.

BRT Apartments traded up $0.46, reaching $13.96, during trading hours on Wednesday, Marketbeat reports. 159,100 shares of the company were exchanged, compared to its average volume of 56,256. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 2.68. The company has a market cap of $193.92 million, a P/E ratio of 20.84 and a beta of 0.43. BRT Apartments has a 52-week low of $7.40 and a 52-week high of $13.99.

BRT Apartments (NYSE:BRT) last issued its earnings results on Tuesday, May 8th. The financial services provider reported $1.75 EPS for the quarter, beating the Zacks’ consensus estimate of $1.15 by $0.60. BRT Apartments had a net margin of 29.70% and a return on equity of 13.38%. The business had revenue of $29.65 million for the quarter, compared to the consensus estimate of $28.87 million. research analysts forecast that BRT Apartments will post 1.06 earnings per share for the current fiscal year.

In other news, VP George Zweier sold 7,500 shares of the firm’s stock in a transaction on Wednesday, June 20th. The shares were sold at an average price of $13.09, for a total value of $98,175.00. Following the transaction, the vice president now owns 71,889 shares of the company’s stock, valued at approximately $941,027.01. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 42.90% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp increased its stake in BRT Apartments by 151.8% during the 4th quarter. Bank of New York Mellon Corp now owns 68,206 shares of the financial services provider’s stock worth $804,000 after buying an additional 41,120 shares during the period. Albert D Mason Inc. purchased a new stake in BRT Apartments during the 1st quarter worth $240,000. Stifel Financial Corp increased its stake in BRT Apartments by 91.1% during the 1st quarter. Stifel Financial Corp now owns 48,237 shares of the financial services provider’s stock worth $574,000 after buying an additional 23,000 shares during the period. State of New Jersey Common Pension Fund D purchased a new stake in BRT Apartments during the 1st quarter worth $353,000. Finally, ClariVest Asset Management LLC purchased a new stake in BRT Apartments during the 1st quarter worth $114,000. 24.01% of the stock is currently owned by hedge funds and other institutional investors.

BRT Apartments Company Profile

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 March 31, 2018 and the supplemental disclosures regarding the quarter on the investor relations section of the Company's website at: http://brtapartments.com/investor_relations for further details.

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