Municipal Employees Retirement System of Michigan Buys New Holdings in BRT Apartments Corp (BRT)

Municipal Employees Retirement System of Michigan bought a new position in shares of BRT Apartments Corp (NYSE:BRT) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 28,254 shares of the financial services provider’s stock, valued at approximately $360,000.

Other institutional investors also recently modified their holdings of the company. Bank of New York Mellon Corp lifted its holdings in BRT Apartments by 151.8% in the fourth quarter. Bank of New York Mellon Corp now owns 68,206 shares of the financial services provider’s stock valued at $804,000 after acquiring an additional 41,120 shares during the last quarter. Albert D Mason Inc. acquired a new position in BRT Apartments in the first quarter valued at approximately $240,000. Stifel Financial Corp lifted its holdings in BRT Apartments by 91.1% in the first quarter. Stifel Financial Corp now owns 48,237 shares of the financial services provider’s stock valued at $574,000 after acquiring an additional 23,000 shares during the last quarter. ClariVest Asset Management LLC acquired a new position in BRT Apartments in the first quarter valued at approximately $114,000. Finally, State of New Jersey Common Pension Fund D acquired a new position in BRT Apartments in the first quarter valued at approximately $353,000. Institutional investors and hedge funds own 25.25% of the company’s stock.

BRT has been the topic of a number of recent analyst reports. Zacks Investment Research cut BRT Apartments from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 17th. TheStreet upgraded BRT Apartments from a “c” rating to a “b-” rating in a report on Friday, June 22nd. Finally, JMP Securities initiated coverage on BRT Apartments in a report on Thursday, June 28th. They issued an “outperform” rating and a $16.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. BRT Apartments presently has an average rating of “Buy” and an average price target of $13.65.

Shares of BRT Apartments opened at $12.95 on Friday, according to MarketBeat.com. The company has a market capitalization of $200.64 million, a price-to-earnings ratio of 13.20 and a beta of 0.44. The company has a debt-to-equity ratio of 2.72, a quick ratio of 2.58 and a current ratio of 1.67. BRT Apartments Corp has a 52-week low of $7.55 and a 52-week high of $14.20.

BRT Apartments (NYSE:BRT) last announced its earnings results on Wednesday, August 8th. The financial services provider reported ($0.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.02). The firm had revenue of $30.15 million during the quarter, compared to analysts’ expectations of $30.43 million. BRT Apartments had a net margin of 27.75% and a return on equity of 12.06%. analysts predict that BRT Apartments Corp will post 1.06 earnings per share for the current fiscal year.

In other BRT Apartments news, VP George Zweier sold 7,500 shares of the business’s stock in a transaction that occurred on Wednesday, June 20th. The stock was sold at an average price of $13.09, for a total value of $98,175.00. Following the sale, the vice president now owns 71,889 shares of the company’s stock, valued at $941,027.01. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 42.90% of the stock is owned by insiders.

About BRT Apartments

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.

Read More: Leveraged Buyout (LBO) Explained

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Institutional Ownership by Quarter for BRT Apartments (NYSE:BRT)

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