B. Riley Initiates Coverage on BRT Apartments (NYSE:BRT)

Equities research analysts at B. Riley started coverage on shares of BRT Apartments (NYSE:BRT) in a research note issued to investors on Thursday, StockNewsAPI reports. The brokerage set a “buy” rating and a $19.50 price target on the financial services provider’s stock. B. Riley’s target price would suggest a potential upside of 10.54% from the company’s previous close. B. Riley also issued estimates for BRT Apartments’ FY2025 earnings at $1.21 EPS.

Separately, JMP Securities cut their target price on shares of BRT Apartments from $28.00 to $24.00 and set an “outperform” rating for the company in a research note on Thursday, March 14th.

BRT Apartments Trading Up 2.1 %

BRT Apartments stock opened at $17.64 on Thursday. The firm has a 50-day moving average of $16.31 and a 200-day moving average of $17.26. BRT Apartments has a one year low of $15.21 and a one year high of $20.69. The company has a debt-to-equity ratio of 2.01, a current ratio of 1.10 and a quick ratio of 1.10. The company has a market cap of $327.75 million, a price-to-earnings ratio of 98.01 and a beta of 1.15.

Insider Activity at BRT Apartments

In other news, major shareholder Investors L. P. Gould bought 2,277 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was acquired at an average cost of $16.29 per share, for a total transaction of $37,092.33. Following the purchase, the insider now owns 3,527,936 shares of the company’s stock, valued at approximately $57,470,077.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, major shareholder Investors L. P. Gould acquired 3,471 shares of the business’s stock in a transaction on Thursday, March 21st. The stock was purchased at an average cost of $16.26 per share, for a total transaction of $56,438.46. Following the completion of the transaction, the insider now directly owns 3,532,398 shares of the company’s stock, valued at approximately $57,436,791.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Investors L. P. Gould acquired 2,277 shares of the business’s stock in a transaction on Monday, March 18th. The shares were bought at an average price of $16.29 per share, with a total value of $37,092.33. Following the completion of the transaction, the insider now directly owns 3,527,936 shares of the company’s stock, valued at $57,470,077.44. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 65,587 shares of company stock worth $1,078,897. Insiders own 38.30% of the company’s stock.

Institutional Investors Weigh In On BRT Apartments

Several hedge funds have recently bought and sold shares of BRT. Stifel Financial Corp acquired a new stake in BRT Apartments during the first quarter worth approximately $1,805,000. Silverberg Bernstein Capital Management LLC bought a new position in shares of BRT Apartments during the fourth quarter worth approximately $1,229,000. BlackRock Inc. increased its holdings in shares of BRT Apartments by 5.6% during the second 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 during the period. Mercer Global Advisors Inc. ADV bought a new position in shares of BRT Apartments during the fourth quarter worth approximately $504,000. Finally, AQR Capital Management LLC increased its holdings in shares of BRT Apartments by 29.0% during the first 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 during the period. 29.07% of the stock is currently owned by institutional investors and hedge funds.

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.