Insider Buying: BRT Apartments Corp. (NYSE:BRT) Major Shareholder Buys 12,850 Shares of Stock

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

BRT Apartments Price Performance

Shares of NYSE BRT opened at $16.68 on Friday. The company has a market capitalization of $309.91 million, a price-to-earnings ratio of 92.67, a PEG ratio of 2.34 and a beta of 1.15. The business has a 50-day moving average of $16.33 and a 200-day moving average of $17.25. BRT Apartments Corp. has a 1-year low of $15.21 and a 1-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.

BRT Apartments Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Wednesday, March 27th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 6.00%. The ex-dividend date of this dividend was Tuesday, March 26th. BRT Apartments’s dividend payout ratio is currently 555.59%.

Wall Street Analysts Forecast Growth

BRT has been the topic of several research reports. B. Riley assumed coverage on shares of BRT Apartments in a report on Thursday, April 11th. They issued a “buy” rating and a $19.50 price target on the stock. JMP Securities cut their target price 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.

Institutional Trading of BRT Apartments

Institutional investors have recently added to or reduced their stakes in the business. Acadian Asset Management LLC boosted its holdings in shares of BRT Apartments by 566.8% in the 1st quarter. Acadian Asset Management LLC now owns 18,491 shares of the financial services provider’s stock valued at $442,000 after buying an additional 15,718 shares during the period. MetLife Investment Management LLC bought a new position in BRT Apartments in the first quarter worth about $149,000. Metropolitan Life Insurance Co NY boosted its stake in BRT Apartments by 83.9% in the first quarter. Metropolitan Life Insurance Co NY now owns 1,392 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 635 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of BRT Apartments by 2.4% during the first quarter. Dimensional Fund Advisors LP now owns 118,333 shares of the financial services provider’s stock valued at $2,837,000 after purchasing an additional 2,817 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of BRT Apartments by 19.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 98,835 shares of the financial services provider’s stock worth $2,370,000 after purchasing an additional 15,787 shares during the period. Institutional investors own 29.07% of the company’s stock.

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.