BRT Apartments Corp. (NYSE:BRT) Short Interest Down 10.1% in March

BRT Apartments Corp. (NYSE:BRT) was the recipient of a large drop in short interest during the month of March. As of March 31st, there was short interest totalling 125,000 shares, a drop of 10.1% from the March 15th total of 139,000 shares. Based on an average daily trading volume, of 40,600 shares, the short-interest ratio is currently 3.1 days. Approximately 1.1% of the company’s shares are short sold.

Insiders Place Their Bets

In related news, major shareholder Investors L. P. Gould acquired 3,471 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was bought at an average price of $16.26 per share, with a total value of $56,438.46. Following the purchase, the insider now directly owns 3,532,398 shares in the company, valued at approximately $57,436,791.48. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, SVP Matthew J. Gould acquired 12,200 shares of BRT Apartments stock in a transaction dated Thursday, April 11th. The shares were acquired at an average cost of $16.89 per share, with a total value of $206,058.00. Following the purchase, the senior vice president now directly owns 3,671,069 shares of the company’s stock, valued at approximately $62,004,355.41. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Investors L. P. Gould acquired 3,471 shares of the firm’s stock in a transaction on Thursday, March 21st. The shares were acquired at an average price of $16.26 per share, with a total value of $56,438.46. Following the completion of the purchase, the insider now owns 3,532,398 shares of the company’s stock, valued at $57,436,791.48. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 77,787 shares of company stock valued at $1,284,955. Insiders own 38.30% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Acadian Asset Management LLC increased its stake in BRT Apartments by 566.8% during the first quarter. Acadian Asset Management LLC now owns 18,491 shares of the financial services provider’s stock valued at $442,000 after purchasing an additional 15,718 shares during the last quarter. MetLife Investment Management LLC bought a new position in BRT Apartments in the first quarter worth about $149,000. Metropolitan Life Insurance Co NY boosted its stake in BRT Apartments by 83.9% in the first quarter. Metropolitan Life Insurance Co NY now owns 1,392 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 635 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of BRT Apartments by 2.4% during the first quarter. Dimensional Fund Advisors LP now owns 118,333 shares of the financial services provider’s stock valued at $2,837,000 after purchasing an additional 2,817 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of BRT Apartments by 19.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 98,835 shares of the financial services provider’s stock worth $2,370,000 after purchasing an additional 15,787 shares during the period. Institutional investors own 29.07% of the company’s stock.

Wall Street Analyst Weigh In

BRT has been the subject of several analyst reports. B. Riley started coverage on shares of BRT Apartments in a research note on Thursday, April 11th. They issued a “buy” rating and a $19.50 target price for the company. 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.

BRT Apartments Stock Down 1.7 %

NYSE BRT traded down $0.29 during trading hours on Wednesday, reaching $16.53. 28,757 shares of the company traded hands, compared to its average volume of 41,768. The company has a 50 day moving average of $16.32 and a two-hundred day moving average of $17.26. The stock has a market capitalization of $307.13 million, a PE ratio of 93.87, a PEG ratio of 2.36 and a beta of 1.15. BRT Apartments has a 12 month low of $15.21 and a 12 month high of $20.69. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 2.01.

BRT Apartments Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Shareholders of record on Wednesday, March 27th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 6.05%. The ex-dividend date of this dividend was Tuesday, March 26th. BRT Apartments’s payout ratio is currently 555.59%.

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