Jeffrey Gould, the President and CEO of BRT Apartments Corp. (NYSE:BRT), has recently acquired additional shares in the company, according to the latest SEC filings. On March 27, 2024, Gould purchased a total of 3,300 shares of BRT Apartments Corp. common stock, with transaction prices ranging between $16.00 and $16.09 per share. The total value of the shares acquired amounts to approximately $52,890.
The acquisition of shares by a high-ranking executive such as the CEO often signals confidence in the company's future prospects. This transaction has increased Gould's direct and indirect holdings in BRT Apartments Corp., which includes shares owned by the Gould Investors L.P., a partnership where Gould serves as an officer of the managing general partner. It is noted that the shares acquired by Gould through Gould Investors L.P. include those in which he may not have a pecuniary interest.
The SEC filing also reveals that Gould's total ownership includes shares held by the Gould Shenfeld Family Foundation and the Gould Family Trust, as well as shares held by 130 Store Company LLC. These holdings reflect various indirect ownerships where Gould has different levels of control or beneficial interest.
Investors often monitor insider transactions, such as purchases and sales of company stock by executives and directors, for insights into the leadership's view of the company's valuation and future performance. Gould's recent purchase adds to the overall picture of insider activity at BRT Apartments Corp., a real estate investment trust specializing in the ownership and operation of multi-family properties.
The filing also includes a statement that the shares obtained through the issuer's dividend reinvestment plan are included in the reported figures. This additional detail provides a more comprehensive understanding of the CEO's stake in the company.
BRT Apartments Corp. has not released any official statement regarding the transaction, and the SEC filing serves as the primary source of information on this matter. The company's stock performance and any potential impact from the CEO's share acquisition will continue to be watched closely by investors and market analysts.
InvestingPro Insights
In light of Jeffrey Gould's recent share acquisition in BRT Apartments Corp., investors may find the following metrics and tips from InvestingPro useful for a deeper analysis of the company's financial health and future prospects:
InvestingPro Data indicates that BRT Apartments Corp. has a market capitalization of $328.18 million, with a high Price-to-Earnings (P/E) ratio of 103.56, signaling that the stock may be trading at a premium compared to earnings. Despite this, the company has experienced a robust revenue growth of 35.62% over the last twelve months as of Q4 2023. Additionally, BRT's dividend yield stands at an attractive 5.95%, reflecting the company's commitment to returning value to shareholders.
Two InvestingPro Tips that stand out for BRT Apartments Corp. include the aggressive share buyback activity by management, which often suggests confidence in the company's valuation and future performance. Moreover, BRT has raised its dividend for 7 consecutive years, demonstrating a reliable and growing income stream for investors.
For those interested in gaining more insights, InvestingPro offers additional tips that could further inform investment decisions. There are 8 more tips available for BRT Apartments Corp., which can be accessed through the dedicated page at: https://www.investing.com/pro/BRT. Remember to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
With Gould's recent investment in the company, these InvestingPro metrics and tips provide a valuable context for investors considering the potential impact on BRT Apartments Corp.'s stock performance.
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