BRT Apartments Corp. (NYSE:BRT) Short Interest Update

BRT Apartments Corp. (NYSE:BRT) was the recipient of a significant drop in short interest during the month of March. As of March 31st, there was short interest totalling 125,000 shares, a drop of 10.1% from the March 15th total of 139,000 shares. Based on an average daily trading volume, of 40,600 shares, the days-to-cover ratio is presently 3.1 days. Currently, 1.1% of the company’s shares are sold short.

BRT Apartments Trading Up 2.1 %

Shares of NYSE:BRT opened at $17.64 on Monday. 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 has a 1 year low of $15.21 and a 1 year high of $20.69. The company has a market cap of $327.75 million, a P/E ratio of 98.01, a PEG ratio of 2.45 and a beta of 1.15. The stock’s fifty day moving average price is $16.31 and its 200-day moving average price is $17.26.

BRT Apartments Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Wednesday, March 27th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 5.67%. The ex-dividend date was Tuesday, March 26th. BRT Apartments’s dividend payout ratio is currently 555.59%.

Insider Activity

In related news, CEO Jeffrey Gould purchased 4,275 shares of the firm’s stock in a transaction on Monday, March 25th. The shares were acquired at an average cost of $16.48 per share, with a total value of $70,452.00. Following the purchase, the chief executive officer now directly owns 3,536,673 shares of the company’s stock, valued at $58,284,371.04. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. In other BRT Apartments news, SVP Matthew J. Gould purchased 11,200 shares of the company’s stock in a transaction that occurred on Tuesday, March 26th. The stock was bought at an average price of $16.14 per share, with a total value of $180,768.00. Following the completion of the purchase, the senior vice president now directly owns 3,547,873 shares of the company’s stock, valued at approximately $57,262,670.22. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jeffrey Gould acquired 4,275 shares of the firm’s stock in a transaction on Monday, March 25th. The stock was bought at an average price of $16.48 per share, with a total value of $70,452.00. Following the completion of the acquisition, the chief executive officer now directly owns 3,536,673 shares in the company, valued at approximately $58,284,371.04. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 65,587 shares of company stock valued at $1,078,897. 38.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On BRT Apartments

A number of hedge funds have recently modified their holdings of the business. Silverberg Bernstein Capital Management LLC bought a new position in shares of BRT Apartments in the 4th quarter valued at about $1,229,000. Clear Creek Financial Management LLC purchased a new position in shares of BRT Apartments in the 4th quarter worth approximately $263,000. Capital Square LLC increased its position in shares of BRT Apartments by 7.7% during the 4th quarter. Capital Square LLC now owns 27,660 shares of the financial services provider’s stock valued at $514,000 after purchasing an additional 1,973 shares during the last quarter. Bailard Inc. purchased a new stake in BRT Apartments during the 3rd quarter valued at $251,000. Finally, Orion Capital Management LLC bought a new stake in BRT Apartments in the third quarter worth $35,000. Institutional investors own 29.07% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. B. Riley initiated coverage on shares of BRT Apartments in a research note on Thursday. They issued a “buy” rating and a $19.50 price target for the company. JMP Securities dropped 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.

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.