Insider Buying: BRT Apartments Corp. (NYSE:BRT) Major Shareholder Purchases 11,212 Shares of Stock

BRT Apartments Corp. (NYSE:BRT) major shareholder Investors L. P. Gould purchased 11,212 shares of BRT Apartments stock in a transaction dated Monday, April 15th. The stock was acquired at an average price of $17.00 per share, for a total transaction of $190,604.00. Following the completion of the transaction, the insider now owns 3,682,281 shares in the company, valued at approximately $62,598,777. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

BRT Apartments Price Performance

Shares of BRT stock traded down $0.31 during midday trading on Wednesday, reaching $16.51. 44,454 shares of the company were exchanged, compared to its average volume of 41,991. BRT Apartments Corp. has a 12 month low of $15.21 and a 12 month high of $20.69. The company has a market cap of $306.76 million, a P/E ratio of 91.73, a PEG ratio of 2.36 and a beta of 1.15. The company’s 50 day moving average price is $16.33 and its two-hundred day moving average price is $17.25. 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 business also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Shareholders of record on Wednesday, March 27th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, March 26th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.06%. BRT Apartments’s dividend payout ratio (DPR) is 555.59%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on BRT. JMP Securities cut their price objective 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 began coverage on shares of BRT Apartments in a research report on Thursday, April 11th. They issued a “buy” rating and a $19.50 price objective on the stock.

Institutional Trading of BRT Apartments

A number of hedge funds and other institutional investors have recently made changes to their positions in BRT. Metropolitan Life Insurance Co NY raised its position in shares of BRT Apartments by 83.9% during the 1st 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 in the last quarter. Orion Capital Management LLC acquired a new position in shares of BRT Apartments in the 3rd quarter worth approximately $35,000. Barclays PLC grew its stake in shares of BRT Apartments by 166.9% in the 4th 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 last quarter. Citigroup Inc. grew its stake in shares of BRT Apartments by 13,260.7% in the 2nd quarter. Citigroup Inc. now owns 3,741 shares of the financial services provider’s stock worth $74,000 after purchasing an additional 3,713 shares during the last quarter. Finally, State of Alaska Department of Revenue grew its stake in shares of 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 worth $95,000 after purchasing an additional 871 shares during the last quarter. 29.07% of the stock is currently owned by 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.