BRT Apartments Corp. (NYSE:BRT - Get Free Report) major shareholder Investors L. P. Gould acquired 12,299 shares of the business's stock in a transaction dated Friday, April 5th. The stock was acquired at an average price of $16.85 per share, for a total transaction of $207,238.15. Following the purchase, the insider now directly owns 3,644,628 shares of the company's stock, valued at $61,411,981.80. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own at least 10% of a company's shares are required to disclose their sales and purchases with the SEC.
BRT Apartments Stock Performance
Shares of NYSE BRT opened at $17.70 on Wednesday. The company's fifty day moving average price is $16.28 and its 200 day moving average price is $17.26. BRT Apartments Corp. has a 1 year low of $15.21 and a 1 year high of $20.69. The company has a market capitalization of $328.87 million, a PE ratio of 98.34 and a beta of 1.15. The company has a debt-to-equity ratio of 2.01, a quick ratio of 1.10 and a current 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 issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 5.65%. The ex-dividend date of this dividend was Tuesday, March 26th. BRT Apartments's dividend payout ratio (DPR) is presently 555.59%.
Analysts Set New Price Targets
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Separately, JMP Securities cut their price objective 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.
Read Our Latest Stock Analysis on BRT Apartments
Institutional Trading of BRT Apartments
A number of hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its holdings in 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 buying an additional 52,417 shares in the last quarter. Vanguard Group Inc. lifted its holdings in BRT Apartments by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 606,984 shares of the financial services provider's stock valued at $11,284,000 after purchasing an additional 7,610 shares in the last quarter. Geode Capital Management LLC lifted its holdings in BRT Apartments by 6.6% during the second quarter. Geode Capital Management LLC now owns 246,761 shares of the financial services provider's stock valued at $4,886,000 after purchasing an additional 15,328 shares in the last quarter. Finally, State Street Corp lifted its holdings in BRT Apartments by 0.3% during the second quarter. State Street Corp now owns 230,808 shares of the financial services provider's stock valued at $4,628,000 after purchasing an additional 704 shares in the last quarter. 29.07% of the stock is owned by hedge funds and other institutional investors.
About BRT Apartments
(
Get Free Report)
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 September 30, 2023, BRT owns or has interests in 28 multi-family properties with 7,707 units in 11 states.
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