Short Interest in BRT Apartments Corp. (NYSE:BRT) Decreases By 7.2%

BRT Apartments Corp. (NYSE:BRTGet Free Report) saw a large decrease in short interest in May. As of May 31st, there was short interest totalling 112,600 shares, a decrease of 7.2% from the May 15th total of 121,300 shares. Currently, 1.1% of the shares of the company are short sold. Based on an average trading volume of 37,600 shares, the days-to-cover ratio is presently 3.0 days.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. B. Riley upped their target price on shares of BRT Apartments from $19.50 to $20.50 and gave the company a “buy” rating in a research report on Friday, May 17th. JMP Securities restated a “market outperform” rating and set a $24.00 price target on shares of BRT Apartments in a report on Tuesday, May 21st.

View Our Latest Stock Report on BRT Apartments

Insider Buying and Selling

In other news, CEO Jeffrey Gould acquired 5,500 shares of the firm’s stock in a transaction dated Friday, April 19th. The shares were purchased at an average cost of $16.89 per share, for a total transaction of $92,895.00. Following the transaction, the chief executive officer now directly owns 3,726,331 shares of the company’s stock, valued at $62,937,730.59. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. In other BRT Apartments news, CEO Jeffrey Gould bought 5,500 shares of the firm’s stock in a transaction that occurred on Friday, April 19th. The shares were bought at an average price of $16.89 per share, with a total value of $92,895.00. Following the purchase, the chief executive officer now owns 3,726,331 shares of the company’s stock, valued at $62,937,730.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Investors L. P. Gould bought 3,471 shares of the stock in a transaction dated Thursday, March 21st. The stock was bought at an average cost of $16.26 per share, for a total transaction of $56,438.46. Following the acquisition, the insider now directly owns 3,532,398 shares of the company’s stock, valued at approximately $57,436,791.48. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 104,081 shares of company stock valued at $1,732,295. 40.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in BRT. Orion Capital Management LLC purchased a new position in shares of BRT Apartments in the third quarter worth $35,000. SG Americas Securities LLC purchased a new position in BRT Apartments in the 4th quarter worth $123,000. BNP Paribas Financial Markets lifted its position in BRT Apartments by 187.0% during the 1st quarter. BNP Paribas Financial Markets now owns 8,263 shares of the financial services provider’s stock worth $139,000 after acquiring an additional 5,384 shares during the period. Clear Creek Financial Management LLC purchased a new stake in BRT Apartments during the 4th quarter valued at about $263,000. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of BRT Apartments by 9.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 20,466 shares of the financial services provider’s stock valued at $344,000 after purchasing an additional 1,726 shares during the period. 29.07% of the stock is currently owned by hedge funds and other institutional investors.

BRT Apartments Stock Up 1.2 %

BRT stock traded up $0.21 during trading on Wednesday, reaching $17.41. 52,767 shares of the company traded hands, compared to its average volume of 19,930. The company has a market capitalization of $324.52 million, a price-to-earnings ratio of 79.09, a price-to-earnings-growth ratio of 1.91 and a beta of 1.08. The company has a debt-to-equity ratio of 2.08, a quick ratio of 1.10 and a current ratio of 1.10. The business has a 50 day simple moving average of $17.59 and a 200 day simple moving average of $17.40. BRT Apartments has a 12 month low of $15.21 and a 12 month high of $20.69.

BRT Apartments Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 9th. Stockholders of record on Tuesday, June 25th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.74%. The ex-dividend date is Tuesday, June 25th. BRT Apartments’s payout ratio is presently 454.57%.

BRT Apartments Company Profile

(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 December 31, 2023, BRT owns or has interests in 28 multi-family properties with 7,707 units in 11 states.

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