Nisa Investment Advisors LLC Lowers Stock Position in BRT Apartments Corp. (NYSE:BRT)

Nisa Investment Advisors LLC reduced its position in shares of BRT Apartments Corp. (NYSE:BRT) by 18.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,120 shares of the financial services provider’s stock after selling 910 shares during the period. Nisa Investment Advisors LLC’s holdings in BRT Apartments were worth $72,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in BRT. Advisor Resource Council bought a new position in BRT Apartments in the 1st quarter valued at $994,000. Lesa Sroufe & Co bought a new position in BRT Apartments during the first quarter valued at about $297,000. Albert D Mason Inc. increased its holdings in BRT Apartments by 1.8% during the first quarter. Albert D Mason Inc. now owns 70,397 shares of the financial services provider’s stock worth $1,197,000 after buying an additional 1,278 shares during the last quarter. Silverberg Bernstein Capital Management LLC raised its position in BRT Apartments by 19.5% in the first quarter. Silverberg Bernstein Capital Management LLC now owns 78,985 shares of the financial services provider’s stock worth $1,343,000 after acquiring an additional 12,901 shares during the period. Finally, GAMMA Investing LLC boosted its stake in BRT Apartments by 10,464.3% in the first quarter. GAMMA Investing LLC now owns 1,479 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 1,465 shares during the last quarter. 29.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on BRT shares. B. Riley lowered their price target on shares of BRT Apartments from $22.00 to $21.00 and set a “buy” rating on the stock in a report on Thursday, March 27th. Wall Street Zen raised BRT Apartments from a “sell” rating to a “hold” rating in a research report on Friday, June 27th.

BRT Apartments Price Performance

BRT opened at $15.25 on Friday. The firm has a 50-day moving average price of $15.77 and a 200-day moving average price of $16.57. BRT Apartments Corp. has a twelve month low of $14.61 and a twelve month high of $20.22. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 2.43. The company has a market capitalization of $288.68 million, a price-to-earnings ratio of -31.77 and a beta of 1.01.

BRT Apartments Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 25th were given a $0.25 dividend. The ex-dividend date was Wednesday, June 25th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.56%. BRT Apartments’s dividend payout ratio (DPR) is currently -208.33%.

Insider Activity at BRT Apartments

In related news, major shareholder Investors L. P. Gould purchased 10,119 shares of the firm’s stock in a transaction dated Monday, May 12th. The shares were purchased at an average price of $15.45 per share, with a total value of $156,338.55. Following the acquisition, the insider directly owned 3,914,065 shares of the company’s stock, valued at approximately $60,472,304.25. This represents a 0.26% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeffrey Gould purchased 3,026 shares of the stock in a transaction on Thursday, June 5th. The shares were purchased at an average price of $15.93 per share, for a total transaction of $48,204.18. Following the transaction, the chief executive officer directly owned 3,973,570 shares of the company’s stock, valued at approximately $63,298,970.10. This represents a 0.08% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 39,947 shares of company stock valued at $624,022. 42.00% of the stock is owned by corporate insiders.

BRT Apartments Company Profile

BRT Apartments Corp. is a real estate investment trust. It engages in the ownership, operation, and holding interests in joint ventures that own and operate multi-family properties. The company was founded in June 1972 and is headquartered in Great Neck, NY.