Investors L. P. Gould Buys 12,850 Shares of BRT Apartments Corp. (NYSE:BRT) Stock

BRT Apartments Corp. (NYSE:BRT) major shareholder Investors L. P. Gould acquired 12,850 shares of BRT Apartments stock in a transaction that occurred on Wednesday, April 17th. The stock was purchased at an average cost of $16.89 per share, for a total transaction of $217,036.50. Following the completion of the transaction, the insider now directly owns 3,707,981 shares in the company, valued at $62,627,799.09. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

BRT Apartments Stock Performance

Shares of NYSE:BRT opened at $17.37 on Friday. The firm has a market cap of $322.73 million, a PE ratio of 96.51, a price-to-earnings-growth ratio of 2.29 and a beta of 1.15. The firm’s 50 day simple moving average is $16.34 and its 200-day simple moving average is $17.24. BRT Apartments Corp. has a one year low of $15.21 and a one year 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.

BRT Apartments Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Wednesday, March 27th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 5.76%. The ex-dividend date of this dividend was Tuesday, March 26th. BRT Apartments’s payout ratio is 555.59%.

Analyst Ratings Changes

BRT has been the topic of a number of research reports. JMP Securities reduced their target price on shares of BRT Apartments from $28.00 to $24.00 and set an “outperform” rating on the stock in a research report on Thursday, March 14th. B. Riley initiated coverage on shares of BRT Apartments in a research report on Thursday, April 11th. They set a “buy” rating and a $19.50 target price on the stock.

Hedge Funds Weigh In On BRT Apartments

Institutional investors have recently bought and sold shares of the business. Silverberg Bernstein Capital Management LLC purchased a new position in BRT Apartments during the fourth quarter valued at approximately $1,229,000. Clear Creek Financial Management LLC purchased a new position in BRT Apartments during the fourth quarter valued at approximately $263,000. Capital Square LLC increased its holdings in BRT Apartments by 7.7% during the fourth quarter. Capital Square LLC now owns 27,660 shares of the financial services provider’s stock valued at $514,000 after buying an additional 1,973 shares during the period. Bailard Inc. purchased a new position in BRT Apartments during the third quarter valued at approximately $251,000. Finally, SG Americas Securities LLC purchased a new position in BRT Apartments during the fourth quarter valued at approximately $123,000. 29.07% of the stock is owned by hedge funds and other institutional investors.

BRT Apartments Company Profile

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 December 31, 2023, BRT owns or has interests in 28 multi-family properties with 7,707 units in 11 states.