Northern Trust Corp Reduces Position in BRT Apartments Corp. (NYSE:BRT)

Northern Trust Corp cut its holdings in BRT Apartments Corp. (NYSE:BRT - Free Report) by 20.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 103,547 shares of the financial services provider's stock after selling 27,344 shares during the quarter. Northern Trust Corp owned about 0.55% of BRT Apartments worth $1,867,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. JPMorgan Chase & Co. boosted its stake in shares of BRT Apartments by 127.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 21,621 shares of the financial services provider's stock valued at $380,000 after purchasing an additional 12,103 shares during the last quarter. Wealth Alliance boosted its position in BRT Apartments by 141.7% during the fourth quarter. Wealth Alliance now owns 65,621 shares of the financial services provider's stock worth $1,183,000 after purchasing an additional 38,475 shares during the period. Noesis Capital Mangement Corp raised its stake in BRT Apartments by 50.0% in the fourth quarter. Noesis Capital Mangement Corp now owns 15,000 shares of the financial services provider's stock valued at $270,000 after purchasing an additional 5,000 shares in the last quarter. Raymond James Financial Inc. acquired a new position in BRT Apartments during the fourth quarter worth about $795,000. Finally, Vanguard Group Inc. grew its holdings in shares of BRT Apartments by 62.7% during the fourth quarter. Vanguard Group Inc. now owns 1,113,057 shares of the financial services provider's stock worth $20,068,000 after purchasing an additional 429,046 shares during the last quarter. 29.07% of the stock is owned by institutional investors.

Insider Activity

In other BRT Apartments news, CFO George Zweier sold 2,143 shares of the company's stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $18.06, for a total transaction of $38,702.58. Following the completion of the sale, the chief financial officer now directly owns 120,797 shares of the company's stock, valued at $2,181,593.82. This represents a 1.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Investors L. P. Gould bought 10,119 shares of the business's stock in a transaction dated Monday, May 12th. The shares were acquired at an average cost of $15.45 per share, with a total value of $156,338.55. Following the completion of the purchase, the insider now owns 3,914,065 shares in the company, valued at approximately $60,472,304.25. This represents a 0.26% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 29,479 shares of company stock valued at $457,517. 42.00% of the stock is currently owned by corporate insiders.

BRT Apartments Stock Performance

Shares of BRT stock traded down $0.15 during mid-day trading on Friday, reaching $15.79. The stock had a trading volume of 26,002 shares, compared to its average volume of 33,473. The firm has a market cap of $298.81 million, a price-to-earnings ratio of -29.78 and a beta of 1.07. The business's fifty day moving average is $15.77 and its 200-day moving average is $17.29. The company has a current ratio of 1.94, a quick ratio of 1.94 and a debt-to-equity ratio of 2.31. BRT Apartments Corp. has a 1-year low of $14.61 and a 1-year high of $20.22.

BRT Apartments Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Thursday, March 27th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, March 27th. This represents a $1.00 annualized dividend and a yield of 6.34%. BRT Apartments's dividend payout ratio (DPR) is -208.33%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on BRT shares. Wall Street Zen downgraded BRT Apartments from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Colliers Securities cut BRT Apartments from a "buy" rating to a "neutral" rating in a research note on Thursday, March 13th. Finally, B. Riley dropped their target price on BRT Apartments from $22.00 to $21.00 and set a "buy" rating on the stock in a report on Thursday, March 27th.

BRT Apartments Profile

BRT Apartments Corp. is a real estate investment trust. It engages in the ownership, operation, and holding interests in joint ventures that own and operate multi-family properties. The company was founded in June 1972 and is headquartered in Great Neck, NY.