Insider Buying: BRT Apartments Corp. (NYSE:BRT) SVP Buys 12,200 Shares of Stock

BRT Apartments Corp. (NYSE:BRT - Get Free Report) SVP Matthew J. Gould acquired 12,200 shares of the stock in a transaction on Thursday, April 11th. The shares were purchased at an average price of $16.89 per share, with a total value of $206,058.00. Following the completion of the transaction, the senior vice president now owns 3,671,069 shares of the company's stock, valued at $62,004,355.41. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

BRT Apartments Price Performance

Shares of NYSE:BRT traded down $0.57 during trading on Monday, hitting $17.07. 71,211 shares of the company were exchanged, compared to its average volume of 42,008. The business's 50 day moving average is $16.32 and its 200-day moving average is $17.26. The company has a market capitalization of $317.16 million, a P/E ratio of 94.84, a price-to-earnings-growth ratio of 2.45 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. BRT Apartments Corp. has a 1-year low of $15.21 and a 1-year high of $20.69.

BRT Apartments Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Wednesday, March 27th were issued a dividend of $0.25 per share. The ex-dividend date was Tuesday, March 26th. This represents a $1.00 annualized dividend and a dividend yield of 5.86%. BRT Apartments's dividend payout ratio (DPR) is presently 555.59%.

Wall Street Analyst Weigh In

BRT has been the subject of several research analyst reports. B. Riley initiated coverage on shares of BRT Apartments in a report on Thursday. They set a "buy" rating and a $19.50 price target for the company. JMP Securities lowered their price target on shares of BRT Apartments from $28.00 to $24.00 and set an "outperform" rating for the company in a report on Thursday, March 14th.

Institutional Trading of BRT Apartments

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. increased its holdings in BRT Apartments by 5.6% in the second quarter. BlackRock Inc. now owns 986,852 shares of the financial services provider's stock valued at $19,540,000 after purchasing an additional 52,417 shares during the period. Vanguard Group Inc. increased its holdings in BRT Apartments by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 606,984 shares of the financial services provider's stock valued at $11,284,000 after purchasing an additional 7,610 shares during the period. Geode Capital Management LLC increased its holdings in BRT Apartments by 6.6% in the second quarter. Geode Capital Management LLC now owns 246,761 shares of the financial services provider's stock valued at $4,886,000 after purchasing an additional 15,328 shares during the period. Finally, State Street Corp increased its holdings in BRT Apartments by 0.3% in the second quarter. State Street Corp now owns 230,808 shares of the financial services provider's stock valued at $4,628,000 after purchasing an additional 704 shares during the period. 29.07% of the stock is currently owned by institutional investors and hedge funds.

About BRT Apartments

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 December 31, 2023, BRT owns or has interests in 28 multi-family properties with 7,707 units in 11 states.