Jeffrey Gould, the President and CEO of BRT Apartments Corp. (NYSE:BRT), has recently purchased shares of the company's stock valued at approximately $207,000. The transaction, which took place on April 5th, involved the acquisition of 12,299 shares at a weighted average price of $16.8481, with individual trade prices ranging from $16.76 to $16.90.
This move by Gould demonstrates a significant vote of confidence in the real estate investment trust, which specializes in multifamily properties. Following the transaction, the total number of shares owned by Gould, both directly and indirectly through various entities, has increased, reflecting his continued investment in the company's future.
Gould's indirect holdings include shares held by the Gould Shenfeld Family Foundation, the Gould Family Trust, and 130 Store Company LLC, with the recent purchase made through Gould Investors L.P. It's important to note that while Gould is associated with these entities, the shares owned by 130 Store Company LLC are specifically disclaimed as beneficial ownership, to the extent of his non-pecuniary interest.
Investors often view insider purchases as a positive sign that company leaders are bullish on their firm's outlook and expect the stock to perform well. Gould's decision to increase his holdings in BRT Apartments Corp. aligns with this perspective and may be seen as a reaffirmation of the company's potential for growth.
BRT Apartments Corp., with its headquarters in Great Neck, NY, has been a notable player in the real estate sector, focusing on the ownership, operation, and development of multifamily properties across the United States.
The transaction details have been made public through a Form 4 filing with the Securities and Exchange Commission, which provides transparency on insider trades, allowing investors to stay informed about significant insider transactions within publicly traded companies.
InvestingPro Insights
Following the recent insider purchase by Jeffrey Gould, President and CEO of BRT Apartments Corp. (NYSE:BRT), the company's financials and market performance provide additional context for investors. BRT Apartments Corp. is currently valued at a market capitalization of $345.76 million and is trading at a high earnings multiple with a P/E ratio of 108.1. Despite the high P/E ratio, the company has a history of rewarding its shareholders, having raised its dividend for 7 consecutive years, with a current dividend yield of 5.73%.
In terms of financial health, BRT Apartments Corp. has demonstrated robust revenue growth over the last twelve months as of Q4 2023, with an increase of 35.62%. This growth is complemented by a strong gross profit margin of 56.3%, indicating efficient management of costs relative to revenue. However, it's important to note that analysts are not anticipating the company to be profitable this year, and net income is expected to drop. This could be a point of concern for potential investors.
For those looking to delve deeper into BRT Apartments Corp.'s financials and market performance, there are additional InvestingPro Tips available. These tips include insights such as management's aggressive share buyback strategy and the company's high EBIT valuation multiple. Interested investors can find a total of 8 InvestingPro Tips to help inform their investment decisions. Moreover, by using the coupon code PRONEWS24, investors can get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking further valuable insights and analysis.
With the next earnings date approaching on May 6, 2024, and a fair value estimation by analysts at $21, compared to the InvestingPro fair value of $14.49, investors are encouraged to keep a close eye on the company's performance and consider the various factors at play when evaluating BRT Apartments Corp. as a potential investment.
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