Investors Gould Purchases 7,000 Shares of BRT Apartments (NYSE:BRT) Stock

Key Points

• Investors Gould purchased 7,000 shares of BRT Apartments at an average price of $14.96 per share, increasing their stake to over 4 million shares valued at approximately $60.95 million.
• BRT Apartments recently announced a quarterly dividend of $0.25, resulting in an annualized yield of 6.7%, although the payout ratio is currently at a concerning -204.08%.
• Analysts have mixed opinions on BRT Apartments' stock, with price targets ranging from a hold rating to a buy rating, and a consensus price target of $19.50.

BRT Apartments Corp. (NYSE:BRT - Get Free Report) major shareholder Investors Gould purchased 7,000 shares of the stock in a transaction on Monday, October 20th. The stock was acquired at an average cost of $14.96 per share, with a total value of $104,720.00. Following the acquisition, the insider owned 4,074,353 shares of the company's stock, valued at approximately $60,952,320.88. This represents a 0.17% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own more than 10% of a company's shares are required to disclose their sales and purchases with the SEC.

BRT Apartments Price Performance

Shares of NYSE:BRT traded down $0.03 during trading on Tuesday, reaching $14.93. The stock had a trading volume of 61,131 shares, compared to its average volume of 32,158. 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 business has a fifty day moving average price of $15.61 and a 200-day moving average price of $15.60. The stock has a market cap of $282.62 million, a PE ratio of -30.47 and a beta of 0.91. BRT Apartments Corp. has a 1-year low of $14.17 and a 1-year high of $20.22.

BRT Apartments Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, October 6th. Shareholders of record on Wednesday, September 24th were given a $0.25 dividend. The ex-dividend date was Wednesday, September 24th. This represents a $1.00 dividend on an annualized basis and a yield of 6.7%. BRT Apartments's payout ratio is currently -204.08%.

Analysts Set New Price Targets

A number of equities research analysts have commented on BRT shares. B. Riley restated a "buy" rating and issued a $19.50 target price (down previously from $21.00) on shares of BRT Apartments in a research report on Wednesday, October 1st. Weiss Ratings restated a "sell (d+)" rating on shares of BRT Apartments in a research report on Wednesday, October 8th. Finally, Wall Street Zen downgraded BRT Apartments from a "hold" rating to a "sell" rating in a research report on Sunday, September 28th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $19.50.

Institutional Investors Weigh In On BRT Apartments

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in BRT Apartments by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 1,130,907 shares of the financial services provider's stock worth $19,225,000 after purchasing an additional 17,850 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of BRT Apartments by 15.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 37,266 shares of the financial services provider's stock worth $634,000 after acquiring an additional 5,035 shares in the last quarter. Silverberg Bernstein Capital Management LLC boosted its position in shares of BRT Apartments by 25.1% during the 2nd quarter. Silverberg Bernstein Capital Management LLC now owns 98,813 shares of the financial services provider's stock worth $1,545,000 after acquiring an additional 19,828 shares in the last quarter. Permanens Capital L.P. acquired a new position in shares of BRT Apartments during the 1st quarter worth about $402,000. Finally, Nuveen LLC acquired a new position in shares of BRT Apartments during the 1st quarter worth about $673,000. Hedge funds and other institutional investors own 29.07% of the company's stock.

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.

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