BRT Apartments (NYSE:BRT) Now Covered by B. Riley

Equities research analysts at B. Riley assumed coverage on shares of BRT Apartments (NYSE:BRT - Get Free Report) in a research note issued to investors on Thursday, StockNewsAPI reports. The firm set a "buy" rating and a $19.50 price target on the financial services provider's stock. B. Riley's price target would suggest a potential upside of 12.78% from the company's previous close.

Separately, JMP Securities decreased their target price on BRT Apartments from $28.00 to $24.00 and set an "outperform" rating on the stock in a research note on Thursday, March 14th.

BRT Apartments Price Performance

NYSE:BRT traded up $0.38 on Thursday, reaching $17.29. 55,192 shares of the company's stock traded hands, compared to its average volume of 40,933. The stock has a 50-day simple moving average of $16.28 and a 200-day simple moving average of $17.26. BRT Apartments has a 12 month low of $15.21 and a 12 month high of $20.69. The firm has a market cap of $321.25 million, a PE ratio of 93.89 and a beta of 1.15. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 2.01.

Insiders Place Their Bets

In other news, major shareholder Investors L. P. Gould acquired 3,471 shares of the business's stock in a transaction dated Thursday, March 21st. The stock was purchased at an average price of $16.26 per share, for a total transaction of $56,438.46. Following the completion of the transaction, the insider now directly owns 3,532,398 shares in the company, valued at approximately $57,436,791.48. The acquisition was disclosed in a filing with the SEC, which is available through this link. In other news, major shareholder Investors L. P. Gould bought 3,471 shares of the stock in a transaction dated Thursday, March 21st. The stock was purchased at an average cost of $16.26 per share, for a total transaction of $56,438.46. Following the transaction, the insider now owns 3,532,398 shares of the company's stock, valued at $57,436,791.48. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Jeffrey Gould bought 3,300 shares of the business's stock in a transaction that occurred on Wednesday, March 27th. The stock was acquired at an average cost of $16.03 per share, with a total value of $52,899.00. Following the completion of the acquisition, the chief executive officer now owns 3,551,173 shares of the company's stock, valued at approximately $56,925,303.19. The disclosure for this purchase can be found here. Insiders have purchased a total of 65,587 shares of company stock worth $1,078,897 in the last 90 days. 38.30% of the stock is currently owned by corporate insiders.

Institutional Trading of BRT Apartments

Hedge funds have recently made changes to their positions in the business. Metropolitan Life Insurance Co NY raised its position in BRT Apartments by 83.9% during the first quarter. Metropolitan Life Insurance Co NY now owns 1,392 shares of the financial services provider's stock valued at $33,000 after purchasing an additional 635 shares during the period. Orion Capital Management LLC bought a new stake in BRT Apartments in the third quarter worth $35,000. Barclays PLC lifted its position in BRT Apartments by 166.9% in the fourth quarter. Barclays PLC now owns 3,230 shares of the financial services provider's stock worth $64,000 after buying an additional 2,020 shares during the last quarter. Citigroup Inc. boosted its stake in BRT Apartments by 13,260.7% during the second quarter. Citigroup Inc. now owns 3,741 shares of the financial services provider's stock worth $74,000 after buying an additional 3,713 shares during the period. Finally, BNP Paribas Arbitrage SA increased its position in BRT Apartments by 34.3% during the second quarter. BNP Paribas Arbitrage SA now owns 4,816 shares of the financial services provider's stock valued at $103,000 after acquiring an additional 1,231 shares during the last quarter. 29.07% of the stock is currently owned by hedge funds and other institutional investors.

BRT Apartments Company Profile

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 September 30, 2023, BRT owns or has interests in 28 multi-family properties with 7,707 units in 11 states.