Asset Management One Co. Ltd. Lowers Stake in BRT Apartments Corp. (NYSE:BRT)

Asset Management One Co. Ltd. cut its position in shares of BRT Apartments Corp. (NYSE:BRT) by 15.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,246 shares of the financial services provider’s stock after selling 2,563 shares during the quarter. Asset Management One Co. Ltd. owned approximately 0.08% of BRT Apartments worth $272,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of BRT. Stifel Financial Corp purchased a new stake in BRT Apartments in the first quarter valued at approximately $1,805,000. Silverberg Bernstein Capital Management LLC purchased a new stake in BRT Apartments in the fourth quarter valued at approximately $1,229,000. BlackRock Inc. grew 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. AQR Capital Management LLC grew its holdings 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. Finally, Goldman Sachs Group Inc. purchased a new stake in BRT Apartments in the second quarter valued at approximately $447,000. 29.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at BRT Apartments

In other BRT Apartments news, major shareholder Investors L. P. Gould purchased 2,277 shares of BRT Apartments stock in a transaction on Monday, March 18th. The shares were purchased at an average cost 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 in the company, valued at approximately $57,470,077.44. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Matthew J. Gould bought 11,200 shares of BRT Apartments stock in a transaction dated Tuesday, March 26th. The shares were acquired at an average cost of $16.14 per share, with a total value of $180,768.00. Following the completion of the transaction, the senior vice president now owns 3,547,873 shares in the company, valued at approximately $57,262,670.22. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Investors L. P. Gould bought 2,277 shares of BRT Apartments stock in a transaction dated Monday, March 18th. The shares were purchased at an average cost of $16.29 per share, for a total transaction of $37,092.33. Following the completion of the transaction, the insider now owns 3,527,936 shares of the company’s stock, valued at approximately $57,470,077.44. The disclosure for this purchase can be found here. Insiders have acquired a total of 65,587 shares of company stock valued at $1,078,897 over the last ninety days. Corporate insiders own 38.30% of the company’s stock.

BRT Apartments Trading Up 2.1 %

Shares of BRT stock opened at $17.64 on Friday. The stock has a market cap of $327.80 million, a price-to-earnings ratio of 98.00 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 fifty-two week low of $15.21 and a fifty-two week high of $20.69. The firm’s 50 day moving average price is $16.31 and its two-hundred day moving average price is $17.26.

BRT Apartments Dividend Announcement

The firm also recently declared 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 was Tuesday, March 26th. This represents a $1.00 dividend on an annualized basis and a yield of 5.67%. BRT Apartments’s dividend payout ratio (DPR) is 555.56%.

Wall Street Analysts Forecast Growth

BRT has been the subject of a number of recent analyst reports. B. Riley initiated coverage on shares of BRT Apartments in a report on Thursday. They issued a “buy” rating and a $19.50 target price for the company. JMP Securities lowered their target price 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.

BRT Apartments 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.