Tue Sep 17 05:41:45 UTC 2024: ## BRT Apartments Corp. Sees Lower Q3 Earnings, Analyst Cuts Forecast

**New York, NY – September 17, 2024** – BRT Apartments Corp. (NYSE:BRT) is facing a downward revision in its Q3 2024 earnings per share (EPS) estimates, according to a research report issued by B. Riley. Analyst J. Massocca has lowered the forecast to $0.35 per share, down from the previous estimate of $0.38. Despite this adjustment, B. Riley maintains a “Buy” rating and a $21.00 price objective on the stock.

The company’s most recent earnings report, released on August 9th, revealed a miss on analysts’ expectations, with a reported EPS of ($0.13) compared to the consensus estimate of $0.37. This marked a significant downturn from the previous year’s Q3 EPS of $0.37.

BRT Apartments is a real estate investment trust specializing in multi-family properties, owning or holding interests in 28 properties with over 7,700 units across 11 states. The company’s stock opened at $19.08 on Monday, with a 52-week low of $15.21 and a high of $20.12.

Despite the lowered earnings forecast, several institutional investors and hedge funds have recently increased their holdings in BRT Apartments, indicating potential confidence in the company’s long-term prospects. The company also announced a quarterly dividend of $0.25 per share, payable on October 2nd, representing an annualized dividend of $1.00 and a yield of 5.24%.

While the revised earnings forecast reflects current market conditions, B. Riley’s “Buy” rating suggests optimism for the company’s future performance. Investors are advised to closely monitor further developments and news concerning BRT Apartments Corp. to assess the potential impact on their investment decisions.

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