BRT Apartments Corp. (NYSE:BRT) Short Interest Up 9.5% in March

BRT Apartments Corp. (NYSE:BRT - Get Free Report) was the recipient of a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 139,000 shares, an increase of 9.5% from the February 29th total of 126,900 shares. Based on an average daily trading volume, of 38,400 shares, the short-interest ratio is currently 3.6 days. Currently, 1.3% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

Separately, JMP Securities reduced their price objective 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 Trading Up 2.9 %

NYSE BRT traded up $0.47 during trading hours on Wednesday, hitting $16.77. 52,683 shares of the company were exchanged, compared to its average volume of 40,068. The stock has a 50-day moving average price of $16.31 and a 200 day moving average price of $17.29. 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 has a 52 week low of $15.21 and a 52 week high of $20.69. The stock has a market cap of $311.59 million, a PE ratio of 93.17 and a beta of 1.15.

BRT Apartments Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 4th. Stockholders of record on Wednesday, March 27th will be paid a dividend of $0.25 per share. The ex-dividend date is Tuesday, March 26th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.96%. BRT Apartments's dividend payout ratio is 555.59%.

Insider Transactions at BRT Apartments

In other news, CEO Jeffrey Gould purchased 3,300 shares of the company's stock in a transaction dated Wednesday, March 27th. The shares were purchased at an average cost of $16.03 per share, for a total transaction of $52,899.00. Following the purchase, the chief executive officer now directly owns 3,551,173 shares in the company, valued at approximately $56,925,303.19. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Jeffrey Gould bought 3,300 shares of the stock in a transaction that occurred on Wednesday, March 27th. The shares were bought at an average cost of $16.03 per share, for a total transaction of $52,899.00. Following the completion of the transaction, the chief executive officer now owns 3,551,173 shares of the company's stock, valued at $56,925,303.19. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Matthew J. Gould acquired 11,200 shares of the stock in a transaction dated Tuesday, March 26th. The stock was acquired at an average price of $16.14 per share, for a total transaction of $180,768.00. Following the completion of the transaction, the senior vice president now directly owns 3,547,873 shares of the company's stock, valued at $57,262,670.22. The disclosure for this purchase can be found here. Insiders have bought a total of 40,989 shares of company stock worth $664,913 in the last ninety days. Insiders own 38.30% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of BRT. Stifel Financial Corp acquired a new position in shares of BRT Apartments in the 1st quarter valued at $1,805,000. Silverberg Bernstein Capital Management LLC purchased a new position in BRT Apartments in the 4th quarter valued at about $1,229,000. BlackRock Inc. raised its position in shares of BRT Apartments by 5.6% during the 2nd quarter. BlackRock Inc. now owns 986,852 shares of the financial services provider's stock valued at $19,540,000 after buying an additional 52,417 shares during the period. Mercer Global Advisors Inc. ADV purchased a new stake in BRT Apartments in the fourth quarter valued at approximately $504,000. Finally, AQR Capital Management LLC raised its position in BRT Apartments by 29.0% in the first quarter. AQR Capital Management LLC now owns 115,020 shares of the financial services provider's stock valued at $2,268,000 after purchasing an additional 25,830 shares during the period. Institutional investors own 29.07% of the company's stock.

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.