BRT Apartments Corp. Announces Quarterly Dividend of $0.25 (NYSE:BRT)

BRT Apartments Corp. (NYSE:BRT) declared a quarterly dividend on Tuesday, March 11th, RTT News reports. Investors of record on Thursday, March 27th will be paid a dividend of 0.25 per share by the financial services provider on Friday, April 4th. This represents a $1.00 annualized dividend and a dividend yield of 5.57%.

BRT Apartments has raised its dividend by an average of 3.6% per year over the last three years. BRT Apartments has a payout ratio of -222.2% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect BRT Apartments to earn $1.45 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 69.0%.

BRT Apartments Stock Performance

BRT traded down $0.17 during midday trading on Wednesday, hitting $17.94. 4,682 shares of the company were exchanged, compared to its average volume of 21,606. The firm has a market capitalization of $337.38 million, a price-to-earnings ratio of -33.85 and a beta of 1.11. The company’s 50 day simple moving average is $17.57 and its 200 day simple moving average is $18.02. The company has a current ratio of 1.94, a quick ratio of 1.94 and a debt-to-equity ratio of 2.31. BRT Apartments has a 1-year low of $15.47 and a 1-year high of $20.22.

Wall Street Analysts Forecast Growth

Separately, B. Riley boosted their price target on BRT Apartments from $21.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday, December 10th.

About BRT Apartments

BRT Apartments Corp. is a real estate investment trust. It engages in the ownership, operation, and holding interests in joint ventures that own and operate multi-family properties. The company was founded in June 1972 and is headquartered in Great Neck, NY.