Raymond James Financial Inc. Invests $795,000 in BRT Apartments Corp. (NYSE:BRT)

Raymond James Financial Inc. bought a new stake in BRT Apartments Corp. (NYSE:BRT) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 44,087 shares of the financial services provider’s stock, valued at approximately $795,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Albert D Mason Inc. lifted its holdings in shares of BRT Apartments by 1.1% during the fourth quarter. Albert D Mason Inc. now owns 69,119 shares of the financial services provider’s stock valued at $1,246,000 after acquiring an additional 756 shares during the period. State Street Corp lifted its holdings in BRT Apartments by 0.6% during the 3rd quarter. State Street Corp now owns 244,355 shares of the financial services provider’s stock valued at $4,356,000 after purchasing an additional 1,561 shares during the last quarter. Noesis Capital Mangement Corp boosted its position in BRT Apartments by 50.0% in the fourth quarter. Noesis Capital Mangement Corp now owns 15,000 shares of the financial services provider’s stock valued at $270,000 after buying an additional 5,000 shares in the last quarter. Barclays PLC grew its stake in BRT Apartments by 295.2% during the third quarter. Barclays PLC now owns 14,690 shares of the financial services provider’s stock worth $258,000 after buying an additional 10,973 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in BRT Apartments by 127.2% during the third quarter. JPMorgan Chase & Co. now owns 21,621 shares of the financial services provider’s stock worth $380,000 after buying an additional 12,103 shares during the last quarter. Institutional investors and hedge funds own 29.07% of the company’s stock.

BRT Apartments Stock Performance

BRT stock opened at $15.96 on Friday. The stock has a market capitalization of $302.03 million, a PE ratio of -30.10 and a beta of 0.92. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.94 and a quick ratio of 1.94. The company has a 50 day moving average price of $17.63 and a 200 day moving average price of $17.89. BRT Apartments Corp. has a fifty-two week low of $15.87 and a fifty-two week high of $20.22.

BRT Apartments Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Thursday, March 27th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 6.27%. The ex-dividend date was Thursday, March 27th. BRT Apartments’s dividend payout ratio (DPR) is presently -188.68%.

Insider Activity at BRT Apartments

In related news, CFO George Zweier sold 2,143 shares of BRT Apartments stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $18.06, for a total transaction of $38,702.58. Following the completion of the sale, the chief financial officer now directly owns 120,797 shares of the company’s stock, valued at $2,181,593.82. The trade was a 1.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 40.20% of the stock is owned by company insiders.

Analyst Ratings Changes

BRT has been the topic of several recent analyst reports. B. Riley reduced their target price on BRT Apartments from $22.00 to $21.00 and set a “buy” rating on the stock in a report on Thursday, March 27th. Colliers Securities lowered BRT Apartments from a “buy” rating to a “neutral” rating in a research note on Thursday, March 13th. Finally, StockNews.com lowered BRT Apartments from a “hold” rating to a “sell” rating in a research note on Tuesday, April 1st.

BRT Apartments Company Profile

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.