BRT Apartments (NYSE:BRT) Cut to Sell at StockNews.com

BRT Apartments (NYSE:BRT) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Monday.

BRT Apartments Trading Down 0.9 %

BRT stock traded down $0.17 during mid-day trading on Monday, hitting $18.32. 34,399 shares of the company were exchanged, compared to its average volume of 57,543. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 1.87. The firm has a market capitalization of $345.42 million, a P/E ratio of 35.22, a PEG ratio of 2.68 and a beta of 1.09. The business has a fifty day simple moving average of $19.03 and a 200-day simple moving average of $18.94. BRT Apartments has a 12-month low of $16.43 and a 12-month high of $22.69.

Insider Activity

In other news, EVP Mitchell Gould sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $20.15, for a total value of $1,007,500.00. Following the completion of the transaction, the executive vice president now owns 148,262 shares of the company’s stock, valued at $2,987,479.30. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 38.30% of the company’s stock.

Institutional Trading of BRT Apartments

Hedge funds have recently added to or reduced their stakes in the company. Boston Partners raised its holdings in BRT Apartments by 49.1% in the first quarter. Boston Partners now owns 175,394 shares of the financial services provider’s stock valued at $3,459,000 after acquiring an additional 57,749 shares in the last quarter. Wealth Alliance raised its holdings in BRT Apartments by 42.5% in the first quarter. Wealth Alliance now owns 22,093 shares of the financial services provider’s stock valued at $436,000 after acquiring an additional 6,587 shares in the last quarter. SG Americas Securities LLC acquired a new stake in BRT Apartments in the first quarter valued at approximately $104,000. GSA Capital Partners LLP acquired a new stake in BRT Apartments in the fourth quarter valued at approximately $350,000. Finally, Russell Investments Group Ltd. acquired a new stake in BRT Apartments during the fourth quarter worth approximately $223,000. Institutional investors and hedge funds own 28.92% of the company’s stock.

About BRT Apartments

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 June 30, 2023, BRT owns or has interests in 28 multi-family properties with 7,707 units in 11 states.