Insider Buying: BRT Apartments Corp. (NYSE:BRT) Major Shareholder Buys $217,036.50 in Stock

BRT Apartments Corp. (NYSE:BRT) major shareholder Investors L. P. Gould purchased 12,850 shares of BRT Apartments stock in a transaction that occurred on Wednesday, April 17th. The shares were acquired at an average price of $16.89 per share, for a total transaction of $217,036.50. Following the acquisition, the insider now owns 3,707,981 shares in the company, valued at $62,627,799.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

BRT Apartments Stock Performance

BRT Apartments stock opened at $17.37 on Friday. The stock’s 50 day simple moving average is $16.34 and its two-hundred day simple moving average is $17.24. 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 stock has a market cap of $322.73 million, a price-to-earnings ratio of 96.51, a PEG ratio of 2.29 and a beta of 1.15. BRT Apartments Corp. has a fifty-two week low of $15.21 and a fifty-two week high of $20.69.

BRT Apartments Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Shareholders of record on Wednesday, March 27th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, March 26th. This represents a $1.00 annualized dividend and a yield of 5.76%. BRT Apartments’s payout ratio is 555.59%.

Institutional Trading of BRT Apartments

Large investors have recently bought and sold shares of the company. Stifel Financial Corp bought a new stake in shares of BRT Apartments in the 1st quarter worth approximately $1,805,000. Silverberg Bernstein Capital Management LLC bought a new stake in shares of BRT Apartments in the 4th quarter worth approximately $1,229,000. BlackRock Inc. boosted its position in shares of BRT Apartments by 5.6% in the 2nd quarter. BlackRock Inc. now owns 986,852 shares of the financial services provider’s stock worth $19,540,000 after purchasing an additional 52,417 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new stake in shares of BRT Apartments in the 4th quarter worth approximately $504,000. Finally, AQR Capital Management LLC boosted its position in shares of BRT Apartments by 29.0% in the 1st quarter. AQR Capital Management LLC now owns 115,020 shares of the financial services provider’s stock worth $2,268,000 after purchasing an additional 25,830 shares in the last quarter. 29.07% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on BRT shares. JMP Securities reduced their price target on BRT Apartments from $28.00 to $24.00 and set an “outperform” rating on the stock in a report on Thursday, March 14th. B. Riley began coverage on BRT Apartments in a research report on Thursday, April 11th. They set a “buy” rating and a $19.50 price objective on the 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 December 31, 2023, BRT owns or has interests in 28 multi-family properties with 7,707 units in 11 states.