BRT Apartments Corp. (NYSE:BRT) Short Interest Up 9.5% in March

BRT Apartments Corp. (NYSE:BRTGet Free Report) was the recipient of a significant increase in short interest in March. As of March 15th, there was short interest totalling 139,000 shares, an increase of 9.5% from the February 29th total of 126,900 shares. Approximately 1.3% of the company’s shares are short sold. Based on an average daily trading volume, of 38,400 shares, the days-to-cover ratio is presently 3.6 days.

BRT Apartments Trading Up 1.5 %

Shares of NYSE BRT traded up $0.25 during trading on Wednesday, reaching $16.55. The stock had a trading volume of 8,114 shares, compared to its average volume of 39,364. BRT Apartments has a fifty-two week low of $15.21 and a fifty-two week high of $20.69. The company has a debt-to-equity ratio of 2.01, a quick ratio of 1.10 and a current ratio of 1.10. The business’s 50-day moving average price is $16.33 and its 200-day moving average price is $17.29. The company has a market cap of $307.50 million, a P/E ratio of 91.84 and a beta of 1.15.

BRT Apartments Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 4th. Investors of record on Wednesday, March 27th will be paid a dividend of $0.25 per share. The ex-dividend date is Tuesday, March 26th. This represents a $1.00 annualized dividend and a yield of 6.04%. BRT Apartments’s payout ratio is 555.59%.

Analyst Upgrades and Downgrades

Separately, JMP Securities dropped their price objective on BRT Apartments from $28.00 to $24.00 and set an “outperform” rating for the company in a research note on Thursday, March 14th.

View Our Latest Stock Report on BRT

Insider Buying and Selling

In related news, CEO Jeffrey Gould acquired 4,275 shares of BRT Apartments stock in a transaction that occurred on Monday, March 25th. The shares were purchased at an average price of $16.48 per share, for a total transaction of $70,452.00. Following the completion of the transaction, the chief executive officer now owns 3,536,673 shares in the company, valued at approximately $58,284,371.04. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other BRT Apartments news, CEO Jeffrey Gould bought 4,275 shares of the business’s stock in a transaction on Monday, March 25th. The stock was bought at an average price of $16.48 per share, with a total value of $70,452.00. Following the completion of the purchase, the chief executive officer now directly owns 3,536,673 shares in the company, valued at $58,284,371.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Investors L. P. Gould bought 2,277 shares of the business’s stock in a transaction on Monday, March 18th. The shares were acquired at an average cost of $16.29 per share, with a total value of $37,092.33. Following the purchase, the insider now owns 3,527,936 shares of the company’s stock, valued at $57,470,077.44. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 40,989 shares of company stock worth $664,913. 38.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Goldman Sachs Group Inc. boosted its position in shares of BRT Apartments by 2.1% during the 2nd quarter. Goldman Sachs Group Inc. now owns 27,010 shares of the financial services provider’s stock worth $580,000 after acquiring an additional 549 shares in the last quarter. Deutsche Bank AG lifted its position in shares of BRT Apartments by 1.3% during the 3rd quarter. Deutsche Bank AG now owns 47,573 shares of the financial services provider’s stock worth $822,000 after buying an additional 632 shares during the last quarter. Metropolitan Life Insurance Co NY grew its position in shares of BRT Apartments by 83.9% in the 1st quarter. Metropolitan Life Insurance Co NY now owns 1,392 shares of the financial services provider’s stock valued at $33,000 after buying an additional 635 shares during the last quarter. State Street Corp raised its holdings in BRT Apartments by 0.3% in the 2nd quarter. State Street Corp now owns 230,808 shares of the financial services provider’s stock valued at $4,628,000 after acquiring an additional 704 shares during the last quarter. Finally, State of Alaska Department of Revenue increased its holdings in shares of BRT Apartments by 18.6% during the 3rd quarter. State of Alaska Department of Revenue now owns 5,555 shares of the financial services provider’s stock worth $95,000 after buying an additional 871 shares during the last quarter. 29.07% of the stock is owned by institutional investors and hedge funds.

About BRT Apartments

(Get Free Report)

BRT is a real estate investment trust that owns, operates and, to a lesser extent, holds interests in joint ventures that own multi-family properties. As of September 30, 2023, BRT owns or has interests in 28 multi-family properties with 7,707 units in 11 states.

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