Investors L. P. Gould Acquires 11,212 Shares of BRT Apartments Corp. (NYSE:BRT) Stock

BRT Apartments Corp. (NYSE:BRT) major shareholder Investors L. P. Gould acquired 11,212 shares of the stock in a transaction that occurred on Monday, April 15th. The stock was acquired at an average cost of $17.00 per share, with a total value of $190,604.00. Following the completion of the purchase, the insider now owns 3,682,281 shares of the company’s stock, valued at $62,598,777. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

BRT Apartments Stock Performance

BRT stock opened at $16.68 on Friday. The firm has a 50-day simple moving average of $16.33 and a two-hundred day simple moving average of $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 Corp. has a one year low of $15.21 and a one year high of $20.69. The firm has a market cap of $309.91 million, a price-to-earnings ratio of 92.67, a PEG ratio of 2.34 and a beta of 1.15.

BRT Apartments Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Shareholders 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 annualized dividend and a yield of 6.00%. BRT Apartments’s dividend payout ratio (DPR) is 555.59%.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On BRT Apartments

Institutional investors and hedge funds have recently bought and sold shares of the company. Metropolitan Life Insurance Co NY boosted its position in shares of 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 worth $33,000 after purchasing an additional 635 shares in the last quarter. Orion Capital Management LLC purchased a new stake in shares of BRT Apartments during the third quarter worth about $35,000. Barclays PLC increased its holdings in shares of BRT Apartments by 166.9% during the fourth quarter. Barclays PLC now owns 3,230 shares of the financial services provider’s stock valued at $64,000 after acquiring an additional 2,020 shares in the last quarter. Citigroup Inc. raised its position 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 valued at $74,000 after purchasing an additional 3,713 shares during the last quarter. Finally, State of Alaska Department of Revenue boosted 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 worth $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.

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.