BRT Apartments Corp. (NYSE:BRT) Major Shareholder Acquires $207,238.15 in Stock

BRT Apartments Corp. (NYSE:BRT - Get Free Report) major shareholder Investors L. P. Gould acquired 12,299 shares of the firm's stock in a transaction that occurred on Friday, April 5th. The stock was bought at an average cost of $16.85 per share, with a total value of $207,238.15. Following the completion of the transaction, the insider now directly owns 3,644,628 shares in the company, valued at $61,411,981.80. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Large shareholders that own 10% or more of a company's shares are required to disclose their transactions with the SEC.

BRT Apartments Stock Performance

Shares of NYSE BRT traded up $0.25 during midday trading on Tuesday, reaching $17.70. 21,189 shares of the stock were exchanged, compared to its average volume of 40,612. The firm has a market cap of $328.87 million, a price-to-earnings ratio of 98.34 and a beta of 1.15. BRT Apartments Corp. has a twelve month low of $15.21 and a twelve month high of $20.69. The firm has a 50-day simple moving average of $16.28 and a two-hundred day simple moving average of $17.26. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 2.01.

BRT Apartments Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Wednesday, March 27th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, March 26th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.65%. BRT Apartments's payout ratio is 555.59%.

Institutional Investors Weigh In On BRT Apartments

Hedge funds and other institutional investors have recently made changes to their positions in the company. Metropolitan Life Insurance Co NY grew its stake in BRT Apartments by 83.9% in the 1st quarter. Metropolitan Life Insurance Co NY now owns 1,392 shares of the financial services provider's stock valued at $33,000 after acquiring an additional 635 shares during the period. Orion Capital Management LLC acquired a new stake in BRT Apartments in the 3rd quarter valued at $35,000. Barclays PLC grew its stake in BRT Apartments by 166.9% in the 4th quarter. Barclays PLC now owns 3,230 shares of the financial services provider's stock valued at $64,000 after acquiring an additional 2,020 shares during the period. Citigroup Inc. grew its stake in BRT Apartments by 13,260.7% in the 2nd quarter. Citigroup Inc. now owns 3,741 shares of the financial services provider's stock valued at $74,000 after acquiring an additional 3,713 shares during the period. Finally, BNP Paribas Arbitrage SA grew its stake in BRT Apartments by 34.3% in the 2nd 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 period. Institutional investors and hedge funds own 29.07% of the company's stock.

Wall Street Analysts Forecast Growth

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

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.