Insider Buying: BRT Apartments (NYSE:BRT) Director Buys 1,977 Shares of Stock

Key Points

• Director Fredric Gould of BRT Apartments Corp. bought 1,977 shares at $16.42 each, increasing his stake by 9.39% to 23,034 shares valued at about $378,218.
• The company announced a quarterly dividend of $0.25 per share, indicating an annualized yield of 6.1%, despite a significant negative dividend payout ratio of -204.08%.
• Wall Street analysts show mixed sentiments with one lowering the stock rating to "sell," while the consensus remains a "Moderate Buy" with a target price of $21.00.

BRT Apartments Corp. (NYSE:BRT - Get Free Report) Director Fredric Gould acquired 1,977 shares of the firm's stock in a transaction on Thursday, September 11th. The shares were purchased at an average cost of $16.42 per share, for a total transaction of $32,462.34. Following the completion of the purchase, the director directly owned 23,034 shares of the company's stock, valued at approximately $378,218.28. The trade was a 9.39% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

BRT Apartments Price Performance

BRT Apartments stock traded up $0.31 during trading hours on Thursday, hitting $16.45. 27,946 shares of the stock were exchanged, compared to its average volume of 30,670. The company has a debt-to-equity ratio of 2.51, a quick ratio of 1.75 and a current ratio of 1.75. The stock has a market capitalization of $311.30 million, a P/E ratio of -33.56 and a beta of 0.94. BRT Apartments Corp. has a 12 month low of $14.17 and a 12 month high of $20.22. The business's 50-day moving average is $15.49 and its two-hundred day moving average is $16.02.

BRT Apartments Dividend Announcement

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

Institutional Trading of BRT Apartments

Several hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC boosted its stake in BRT Apartments by 10,464.3% in the first quarter. GAMMA Investing LLC now owns 1,479 shares of the financial services provider's stock valued at $25,000 after acquiring an additional 1,465 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in 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 valued at $31,000 after acquiring an additional 991 shares during the last quarter. Osaic Holdings Inc. boosted its stake in BRT Apartments by 111.8% in the second quarter. Osaic Holdings Inc. now owns 1,809 shares of the financial services provider's stock valued at $28,000 after acquiring an additional 955 shares during the last quarter. Strs Ohio bought a new position in BRT Apartments in the first quarter valued at approximately $39,000. Finally, BNP Paribas Financial Markets boosted its stake in BRT Apartments by 388.9% in the second quarter. BNP Paribas Financial Markets now owns 3,139 shares of the financial services provider's stock valued at $49,000 after acquiring an additional 2,497 shares during the last quarter. 29.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

BRT Apartments Company 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.

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