B. Riley Initiates Coverage on BRT Apartments (NYSE:BRT)

Equities research analysts at B. Riley assumed coverage on shares of BRT Apartments (NYSE:BRT) in a report issued on Thursday, StockNewsAPI reports. The firm set a “buy” rating and a $19.50 price target on the financial services provider’s stock. B. Riley’s price objective would suggest a potential upside of 10.54% from the company’s current price. B. Riley also issued estimates for BRT Apartments’ FY2025 earnings at $1.21 EPS.

Separately, JMP Securities reduced their target price on BRT Apartments from $28.00 to $24.00 and set an “outperform” rating on the stock in a report on Thursday, March 14th.

BRT Apartments Trading Up 2.1 %

NYSE:BRT opened at $17.64 on Thursday. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 2.01. The business’s 50 day moving average is $16.31 and its two-hundred day moving average is $17.26. BRT Apartments has a 52 week low of $15.21 and a 52 week high of $20.69. The company has a market cap of $327.75 million, a PE ratio of 98.01 and a beta of 1.15.

Insider Buying and Selling

In related news, major shareholder Investors L. P. Gould purchased 3,471 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The shares were acquired at an average price of $16.26 per share, with a total value of $56,438.46. Following the acquisition, the insider now owns 3,532,398 shares in the company, valued at approximately $57,436,791.48. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other BRT Apartments news, major shareholder Investors L. P. Gould bought 15,475 shares of the business’s stock in a transaction on Monday, March 25th. The shares were purchased at an average price of $16.23 per share, with a total value of $251,159.25. Following the purchase, the insider now directly owns 3,547,873 shares of the company’s stock, valued at $57,581,978.79. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Investors L. P. Gould bought 3,471 shares of the business’s stock in a transaction on Thursday, March 21st. The shares were acquired at an average cost of $16.26 per share, for a total transaction of $56,438.46. Following the purchase, the insider now directly owns 3,532,398 shares in the company, valued at $57,436,791.48. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 65,587 shares of company stock valued at $1,078,897. Insiders own 38.30% of the company’s stock.

Institutional Trading of BRT Apartments

Hedge funds have recently added to or reduced their stakes in the business. Metropolitan Life Insurance Co NY raised its stake in BRT Apartments by 83.9% during the 1st quarter. Metropolitan Life Insurance Co NY now owns 1,392 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 635 shares in the last quarter. Orion Capital Management LLC acquired a new position in shares of BRT Apartments during the 3rd quarter valued at $35,000. Barclays PLC increased its position in shares of BRT Apartments by 166.9% during the 4th quarter. Barclays PLC now owns 3,230 shares of the financial services provider’s stock valued at $64,000 after purchasing an additional 2,020 shares during the period. Citigroup Inc. increased its position in shares of BRT Apartments by 13,260.7% during the 2nd quarter. Citigroup Inc. now owns 3,741 shares of the financial services provider’s stock valued at $74,000 after purchasing an additional 3,713 shares during the period. Finally, BNP Paribas Arbitrage SA increased its position in shares of BRT Apartments by 34.3% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,816 shares of the financial services provider’s stock valued at $103,000 after purchasing an additional 1,231 shares during the period. Institutional investors own 29.07% of the company’s stock.

BRT Apartments Company Profile

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.