Stifel Financial Corp purchased a new position in BRT Apartments Corp (NYSE:BRT) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,237 shares of the financial services provider’s stock, valued at approximately $108,000. Stifel Financial Corp owned about 0.07% of BRT Apartments at the end of the most recent quarter.
Separately, Oppenheimer & Close LLC grew its holdings in BRT Apartments by 38.4% during the 3rd quarter. Oppenheimer & Close LLC now owns 259,116 shares of the financial services provider’s stock worth $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.
Several research analysts have issued reports on BRT shares. Janney Montgomery Scott started coverage on shares of BRT Apartments in a report on Friday, September 29th. They set a “neutral” rating and a $10.50 target price on the stock. Zacks Investment Research upgraded shares of BRT Apartments from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a report on Tuesday, December 19th. FBR & Co started coverage on shares of BRT Apartments in a report on Thursday, October 26th. They set a “buy” rating and a $11.75 target price on the stock. B. Riley reiterated a “buy” rating and set a $12.50 target price on shares of BRT Apartments in a report on Tuesday, December 19th. Finally, TheStreet upgraded shares of BRT Apartments from a “d+” rating to a “c-” rating in a report on Tuesday, September 26th. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. BRT Apartments currently has an average rating of “Buy” and an average price target of $11.94.
The company also recently declared a quarterly dividend, which will be paid on Friday, January 5th. Shareholders of record on Friday, December 22nd will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 6.15%. The ex-dividend date is Thursday, December 21st. BRT Apartments’s payout ratio is 73.47%.
BRT Apartments announced that its board has approved a stock buyback plan on Tuesday, September 12th that permits the company to buyback $5.00 million in shares. This buyback authorization permits the financial services provider to purchase up to 3.6% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.
BRT Apartments 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.
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