Allspring Global Investments Holdings LLC Increases Stake in BRT Apartments Corp. (NYSE:BRT)

Allspring Global Investments Holdings LLC increased its holdings in BRT Apartments Corp. (NYSE:BRT) by 142.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 18,740 shares of the financial services provider’s stock after purchasing an additional 11,013 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.10% of BRT Apartments worth $348,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. State of Alaska Department of Revenue grew its holdings in BRT Apartments by 18.6% in the 3rd quarter. State of Alaska Department of Revenue now owns 5,555 shares of the financial services provider’s stock worth $95,000 after acquiring an additional 871 shares during the last quarter. Denali Advisors LLC grew its holdings in BRT Apartments by 61.2% in the 3rd quarter. Denali Advisors LLC now owns 10,800 shares of the financial services provider’s stock worth $187,000 after acquiring an additional 4,100 shares during the last quarter. Bailard Inc. bought a new stake in BRT Apartments in the 3rd quarter worth $251,000. Deutsche Bank AG grew its holdings in BRT Apartments by 1.3% in the 3rd quarter. Deutsche Bank AG now owns 47,573 shares of the financial services provider’s stock worth $822,000 after acquiring an additional 632 shares during the last quarter. Finally, Capital Square LLC grew its holdings in BRT Apartments by 15.5% in the 3rd quarter. Capital Square LLC now owns 25,687 shares of the financial services provider’s stock worth $446,000 after acquiring an additional 3,455 shares during the last quarter. Hedge funds and other institutional investors own 29.07% of the company’s stock.

Wall Street Analysts Forecast Growth

BRT has been the topic of a number of recent analyst reports. JMP Securities cut their price target on shares of BRT Apartments from $28.00 to $24.00 and set an “outperform” rating on the stock in a report on Thursday, March 14th. B. Riley initiated coverage on shares of BRT Apartments in a research report on Thursday, April 11th. They issued a “buy” rating and a $19.50 target price for the company.

BRT Apartments Trading Up 0.7 %

NYSE:BRT opened at $17.54 on Friday. The company has a 50-day moving average price of $16.50 and a 200-day moving average price of $17.28. BRT Apartments Corp. has a 12 month low of $15.21 and a 12 month high of $20.69. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 2.01. The stock has a market cap of $325.89 million, a price-to-earnings ratio of 97.45, a P/E/G ratio of 2.45 and a beta of 1.15.

BRT Apartments Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Wednesday, March 27th were given a $0.25 dividend. The ex-dividend date was Tuesday, March 26th. This represents a $1.00 annualized dividend and a dividend yield of 5.70%. BRT Apartments’s dividend payout ratio is 555.59%.

Insider Transactions at BRT Apartments

In other BRT Apartments news, CEO Jeffrey Gould purchased 5,500 shares of the stock in a transaction that occurred on Friday, April 19th. The stock was bought at an average cost of $16.89 per share, with a total value of $92,895.00. Following the transaction, the chief executive officer now directly owns 3,726,331 shares in the company, valued at approximately $62,937,730.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other BRT Apartments news, CEO Jeffrey Gould purchased 5,500 shares of the stock in a transaction that occurred on Friday, April 19th. The stock was bought at an average cost of $16.89 per share, with a total value of $92,895.00. Following the transaction, the chief executive officer now directly owns 3,726,331 shares in the company, valued at approximately $62,937,730.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Investors L. P. Gould purchased 2,277 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were acquired 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 owns 3,527,936 shares in the company, valued at $57,470,077.44. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 107,349 shares of company stock valued at $1,785,491. Company insiders own 38.30% 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.