BRT Apartments Corp. (NYSE:BRT) Major Shareholder Buys $217,036.50 in Stock

BRT Apartments Corp. (NYSE:BRT) major shareholder Investors L. P. Gould acquired 12,850 shares of the firm’s stock in a transaction on Wednesday, April 17th. The shares were bought at an average cost of $16.89 per share, with a total value of $217,036.50. Following the completion of the transaction, the insider now directly owns 3,707,981 shares in the company, valued at approximately $62,627,799.09. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

BRT Apartments Price Performance

Shares of BRT traded down $0.31 during mid-day trading on Wednesday, hitting $16.51. The company’s stock had a trading volume of 44,454 shares, compared to its average volume of 41,991. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 2.01. The firm has a 50-day simple moving average of $16.33 and a 200 day simple moving average of $17.25. The firm has a market capitalization of $306.76 million, a P/E ratio of 91.78, a P/E/G ratio of 2.36 and a beta of 1.15. BRT Apartments Corp. has a 1-year low of $15.21 and a 1-year high of $20.69.

BRT Apartments Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Wednesday, March 27th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 6.06%. The ex-dividend date of this dividend was Tuesday, March 26th. BRT Apartments’s payout ratio is currently 555.59%.

Hedge Funds Weigh In On BRT Apartments

Hedge funds have recently bought and sold shares of the company. Metropolitan Life Insurance Co NY increased its stake in 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 purchasing an additional 635 shares in the last quarter. Orion Capital Management LLC purchased a new position in BRT Apartments in the 3rd quarter valued at approximately $35,000. Barclays PLC increased its stake in BRT Apartments by 166.9% in the 4th quarter. Barclays PLC now owns 3,230 shares of the financial services provider’s stock valued at $64,000 after purchasing an additional 2,020 shares in the last quarter. Citigroup Inc. increased its stake in BRT Apartments by 13,260.7% in the 2nd quarter. Citigroup Inc. now owns 3,741 shares of the financial services provider’s stock valued at $74,000 after purchasing an additional 3,713 shares in the last quarter. Finally, State of Alaska Department of Revenue increased its stake in BRT Apartments by 18.6% in the 3rd quarter. State of Alaska Department of Revenue now owns 5,555 shares of the financial services provider’s stock valued at $95,000 after purchasing an additional 871 shares in the last quarter. 29.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on BRT shares. JMP Securities reduced their price target on BRT Apartments from $28.00 to $24.00 and set an “outperform” rating for the company in a report on Thursday, March 14th. B. Riley started coverage on BRT Apartments in a report on Thursday, April 11th. They issued a “buy” rating and a $19.50 price target for the company.

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.