Permanens Capital L.P. Takes $402,000 Position in BRT Apartments Corp. $BRT

Key Points

• Permanens Capital L.P. made a new investment of $402,000 in BRT Apartments Corp., acquiring 23,308 shares, which represents 0.12% of the company's stock.
• Notable institutional investors like Wells Fargo and Barclays have increased their stakes in BRT Apartments, with Wells Fargo boosting its position by 23.5% and Barclays by 15.4%.
• Following a recent downgrade by Wall Street Zen to a "sell" rating, the average analyst rating for BRT Apartments remains at "Moderate Buy" with a consensus price target of $21.00.

Permanens Capital L.P. bought a new position in BRT Apartments Corp. (NYSE:BRT - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The firm bought 23,308 shares of the financial services provider's stock, valued at approximately $402,000. Permanens Capital L.P. owned 0.12% of BRT Apartments as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in BRT. GAMMA Investing LLC lifted its stake in shares of BRT Apartments by 10,464.3% during the 1st quarter. GAMMA Investing LLC now owns 1,479 shares of the financial services provider's stock valued at $25,000 after buying an additional 1,465 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of BRT Apartments by 131.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,745 shares of the financial services provider's stock worth $31,000 after purchasing an additional 991 shares during the last quarter. Wells Fargo & Company MN grew its holdings in BRT Apartments by 23.5% during the 4th quarter. Wells Fargo & Company MN now owns 7,571 shares of the financial services provider's stock valued at $137,000 after buying an additional 1,439 shares in the last quarter. Brookwood Investment Group LLC bought a new stake in BRT Apartments in the 1st quarter worth approximately $185,000. Finally, Lesa Sroufe & Co purchased a new stake in BRT Apartments during the first quarter valued at $297,000. 29.07% of the stock is owned by hedge funds and other institutional investors.

BRT Apartments Trading Up 1.9%

Shares of NYSE BRT traded up $0.31 during midday trading on Thursday, hitting $16.45. The company's stock had a trading volume of 27,940 shares, compared to its average volume of 30,668. BRT Apartments Corp. has a 12-month low of $14.17 and a 12-month high of $20.22. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 2.51. The firm has a market cap of $311.30 million, a P/E ratio of -33.56 and a beta of 0.94. The business's 50 day moving average is $15.49 and its two-hundred day moving average is $16.02.

BRT Apartments Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 6th. Stockholders of record on Wednesday, September 24th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 6.1%. BRT Apartments's dividend payout ratio (DPR) is -204.08%.

Insiders Place Their Bets

In related news, major shareholder Investors L. P. Gould acquired 1,742 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The stock was bought at an average price of $15.80 per share, for a total transaction of $27,523.60. Following the acquisition, the insider directly owned 3,980,912 shares of the company's stock, valued at $62,898,409.60. This represents a 0.04% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jeffrey Gould acquired 3,468 shares of the stock in a transaction on Tuesday, August 12th. The stock was bought at an average cost of $14.96 per share, with a total value of $51,881.28. Following the completion of the transaction, the chief executive officer owned 4,040,400 shares in the company, valued at $60,444,384. This trade represents a 0.09% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 9,788 shares of company stock valued at $147,881 over the last three months. Insiders own 42.00% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded BRT Apartments from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $21.00.

About BRT Apartments

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.