Zacks Investment Research upgraded shares of BRT Realty Trust (NYSE:BRT) from a hold rating to a buy rating in a report published on Wednesday morning. Zacks Investment Research currently has $13.00 target price on the financial services provider’s stock.
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. “
A number of other analysts also recently issued reports on BRT. B. Riley reiterated a buy rating and set a $12.50 price target on shares of BRT Realty Trust in a research report on Tuesday, December 19th. ValuEngine upgraded BRT Realty Trust from a hold rating to a buy rating in a research report on Friday, February 2nd. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. BRT Realty Trust presently has a consensus rating of Buy and an average target price of $12.31.
Shares of BRT opened at $11.98 on Wednesday. The stock has a market cap of $169.63, a PE ratio of 13.79 and a beta of 0.48. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 3.08. BRT Realty Trust has a 12-month low of $7.36 and a 12-month high of $13.99.
BRT Realty Trust (NYSE:BRT) last issued its quarterly earnings results on Friday, February 9th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.24. The firm had revenue of $28.35 million during the quarter, compared to the consensus estimate of $27.94 million. BRT Realty Trust had a return on equity of 1.80% and a net margin of 3.85%. equities analysts forecast that BRT Realty Trust will post 0.85 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, April 6th. Investors of record on Tuesday, March 27th were given a $0.20 dividend. This is an increase from BRT Realty Trust’s previous quarterly dividend of $0.18. The ex-dividend date was Monday, March 26th. This represents a $0.80 dividend on an annualized basis and a yield of 6.68%. BRT Realty Trust’s payout ratio is presently 119.40%.
A number of large investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC lifted its position in BRT Realty Trust by 44.1% in the 4th quarter. Renaissance Technologies LLC now owns 198,940 shares of the financial services provider’s stock worth $2,346,000 after buying an additional 60,880 shares during the last quarter. Bank of New York Mellon Corp lifted its position in BRT Realty Trust by 151.8% in 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 last quarter. Northern Trust Corp lifted its position in BRT Realty Trust by 2.2% in the 2nd quarter. Northern Trust Corp now owns 54,555 shares of the financial services provider’s stock worth $429,000 after buying an additional 1,200 shares during the last quarter. Deutsche Bank AG lifted its position in BRT Realty Trust by 122.9% in the 4th quarter. Deutsche Bank AG now owns 33,539 shares of the financial services provider’s stock worth $395,000 after buying an additional 18,494 shares during the last quarter. Finally, Monashee Investment Management LLC bought a new stake in BRT Realty Trust in the 4th quarter worth approximately $170,000. Institutional investors own 20.86% of the company’s stock.
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About BRT Realty Trust
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, 2017 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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