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

BRT Apartments Corp. (NYSE:BRT) major shareholder Investors L. P. Gould bought 12,850 shares of the stock in a transaction that occurred on Wednesday, April 17th. The stock was bought at an average price of $16.89 per share, with a total value of $217,036.50. Following the completion of the purchase, the insider now directly owns 3,707,981 shares in the company, valued at $62,627,799.09. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

BRT Apartments Stock Performance

BRT opened at $16.68 on Friday. The firm has a fifty day moving average price of $16.33 and a 200 day moving average price of $17.25. BRT Apartments Corp. has a 1 year low of $15.21 and a 1 year high of $20.69. The stock has a market cap of $309.91 million, a P/E ratio of 92.67, a P/E/G ratio of 2.34 and a beta of 1.15. The company has a debt-to-equity ratio of 2.01, a current ratio of 1.10 and a quick ratio of 1.10.

BRT Apartments Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Wednesday, March 27th were paid a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, March 26th. This represents a $1.00 dividend on an annualized basis and a yield of 6.00%. BRT Apartments’s dividend payout ratio is currently 555.59%.

Institutional Investors Weigh In On BRT Apartments

Large investors have recently made changes to their positions in the stock. Metropolitan Life Insurance Co NY boosted its stake in BRT Apartments by 83.9% during the first quarter. Metropolitan Life Insurance Co NY now owns 1,392 shares of the financial services provider’s stock worth $33,000 after buying an additional 635 shares during the last quarter. Orion Capital Management LLC acquired a new position in shares of BRT Apartments during the 3rd quarter valued at about $35,000. Barclays PLC raised its stake in BRT Apartments by 166.9% during the fourth quarter. Barclays PLC now owns 3,230 shares of the financial services provider’s stock worth $64,000 after purchasing an additional 2,020 shares during the period. Citigroup Inc. boosted its holdings 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 during the last quarter. Finally, State of Alaska Department of Revenue lifted its holdings in BRT Apartments by 18.6% in the third quarter. State of Alaska Department of Revenue now owns 5,555 shares of the financial services provider’s stock valued at $95,000 after acquiring an additional 871 shares during the last quarter. 29.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on BRT shares. JMP Securities reduced 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. B. Riley started coverage on shares of BRT Apartments in a report on Thursday, April 11th. They issued a “buy” rating and a $19.50 price target on the 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 December 31, 2023, BRT owns or has interests in 28 multi-family properties with 7,707 units in 11 states.