BRT Apartments Corp. (NYSE:BRT) Short Interest Down 10.1% in March

BRT Apartments Corp. (NYSE:BRT - Get Free Report) was the recipient of a large drop in short interest in March. As of March 31st, there was short interest totalling 125,000 shares, a drop of 10.1% from the March 15th total of 139,000 shares. Based on an average trading volume of 40,600 shares, the days-to-cover ratio is presently 3.1 days. Currently, 1.1% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

BRT has been the topic of a number of research reports. B. Riley initiated coverage on shares of BRT Apartments in a research note on Thursday. They issued a "buy" rating and a $19.50 price target on the stock. 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 research note on Thursday, March 14th.

BRT Apartments Stock Performance

NYSE:BRT traded down $0.57 during mid-day trading on Monday, hitting $17.07. 71,211 shares of the stock were exchanged, compared to its average volume of 42,008. The stock has a market capitalization of $317.16 million, a price-to-earnings ratio of 94.84, a price-to-earnings-growth ratio of 2.45 and a beta of 1.15. The company has a debt-to-equity ratio of 2.01, a quick ratio of 1.10 and a current ratio of 1.10. The firm's 50-day simple moving average is $16.32 and its 200 day simple moving average is $17.26. BRT Apartments has a fifty-two week low of $15.21 and a fifty-two week high of $20.69.

BRT Apartments Announces Dividend

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

Insider Buying and Selling at BRT Apartments

In other BRT Apartments news, major shareholder Investors L. P. Gould bought 15,475 shares of BRT Apartments stock in a transaction dated Monday, March 25th. The shares were bought at an average price of $16.23 per share, with a total value of $251,159.25. Following the purchase, the insider now owns 3,547,873 shares of the company's stock, valued at $57,581,978.79. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO Jeffrey Gould acquired 4,275 shares of BRT Apartments stock in a transaction that occurred on Monday, March 25th. The shares were acquired at an average price of $16.48 per share, with a total value of $70,452.00. Following the purchase, the chief executive officer now directly owns 3,536,673 shares of the company's stock, valued at $58,284,371.04. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Investors L. P. Gould acquired 15,475 shares of BRT Apartments stock in a transaction that occurred on Monday, March 25th. The shares were purchased at an average cost of $16.23 per share, for a total transaction of $251,159.25. Following the purchase, the insider now directly owns 3,547,873 shares in the company, valued at $57,581,978.79. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 77,787 shares of company stock worth $1,284,955. 38.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On BRT Apartments

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Silverberg Bernstein Capital Management LLC bought a new position in shares of BRT Apartments in the 4th quarter valued at $1,229,000. Clear Creek Financial Management LLC bought a new position in shares of BRT Apartments in the 4th quarter valued at $263,000. Capital Square LLC increased its stake in shares of BRT Apartments by 7.7% in the 4th quarter. Capital Square LLC now owns 27,660 shares of the financial services provider's stock valued at $514,000 after purchasing an additional 1,973 shares during the last quarter. Bailard Inc. bought a new position in shares of BRT Apartments in the 3rd quarter valued at $251,000. Finally, Orion Capital Management LLC bought a new position in shares of BRT Apartments in the 3rd quarter valued at $35,000. 29.07% of the stock is 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.