In a recent transaction, Gould Investors L.P., a significant shareholder in BRT Apartments Corp. (NYSE:BRT), expanded its holdings in the company with a purchase of shares valued at approximately $206,048. The transaction involved the acquisition of 12,200 shares at an average price of $16.8892, according to a Form 4 document filed with the Securities and Exchange Commission.
The purchase took place on April 11, 2024, with the price per share ranging from $16.70 to $16.91. The reported price represents the weighted average of the shares bought in multiple trades. Following this transaction, Gould Investors L.P.'s total ownership in BRT Apartments Corp. has increased to 3,671,068.9731 shares. The additional shares include those acquired through the issuer's dividend reinvestment plan, as noted in the footnotes of the filing.
BRT Apartments Corp. is a real estate investment trust (REIT) known for its involvement in the ownership, operation, and development of multi-family properties. With this latest purchase, Gould Investors L.P. reaffirms its position as a significant investor in the company.
The filing was signed by Isaac Kalish, Vice President of Georgetown Partners LLC, on behalf of Gould Investors L.P. The transaction details provide transparency into the actions of major shareholders and are a standard requirement for insider trading reporting.
Investors often monitor such filings to gauge the confidence of insiders and large shareholders in the company's prospects. The acquisition of shares by Gould Investors L.P. could be interpreted as a positive sign of the company's potential for growth and stability in the real estate sector.
InvestingPro Insights
Amidst the recent share acquisition by Gould Investors L.P., BRT Apartments Corp. (NYSE:BRT) has shown notable activity in its financial metrics and management behavior that could be of interest to investors. The company's management has demonstrated confidence through aggressive share buybacks, an InvestingPro Tip that often signals a bullish outlook on the company's value. Furthermore, BRT has a history of rewarding its shareholders, having raised its dividend for 7 consecutive years, which could suggest a commitment to returning value to investors.
On the financial front, BRT Apartments Corp. boasts a solid revenue growth of 35.62% over the last twelve months as of Q4 2023, indicating a robust expansion in its operations. The company's market capitalization stands at $332.87M, and while it is trading at a high earnings multiple with a P/E ratio of 104.29, this could reflect market expectations of future earnings growth. Additionally, BRT's dividend yield is at an attractive 5.73%, as of the latest data, which could appeal to income-focused investors.
For those interested in a deeper dive into the company's prospects and to access more InvestingPro Tips, such as the anticipated net income drop this year and the high EBIT valuation multiple, a visit to Investing.com's Pro page for BRT at https://www.investing.com/pro/BRT is recommended. There are 8 additional InvestingPro Tips available, which can be accessed with a yearly or biyearly Pro and Pro+ subscription. Don't forget to use the coupon code PRONEWS24 to get an additional 10% off.
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