In a recent transaction, Gould Investors L.P., a ten percent owner in BRT Apartments Corp. (NYSE:BRT), expanded its holdings in the company through the acquisition of additional shares. The investment partnership purchased shares valued at over $52,000, indicating confidence in the real estate investment trust's prospects.
The transactions, which took place on March 25, 2024, involved the purchase of 2,300 shares at $16.00 each and another batch of 1,000 shares at $16.09 each. The total investment for these acquisitions amounted to approximately $52,890. This move has increased Gould Investors L.P.'s ownership in BRT Apartments Corp., further cementing its position as a significant stakeholder.
BRT Apartments Corp., known for its involvement in the real estate industry, particularly in nonresidential buildings, has been a part of Gould Investors L.P.'s portfolio for some time. The additional shares acquired by Gould Investors also include those obtained through the issuer's dividend reinvestment plan, as noted in the footnotes of the filing.
The ownership of these shares is direct, as specified in the filing, and the latest acquisition brings Gould Investors L.P.'s total number of shares in BRT Apartments Corp. to 3,551,172.876. This transaction reflects a notable investment by a major shareholder and could be of interest to investors monitoring the company's shareholder activity.
The transaction was officially signed by Isaac Kalish, Vice President of Georgetown Partners LLC, on behalf of Gould Investors L.P., on March 29, 2024.
InvestingPro Insights
In the wake of Gould Investors L.P.'s increased stake in BRT Apartments Corp. (NYSE:BRT), it's pertinent to consider the company's financial health and market performance. The real estate investment trust's market capitalization stands at a modest $328.18 million, reflecting its position in the industry. Despite a high earnings multiple with a P/E Ratio of 103.56, BRT Apartments Corp. demonstrates a notable revenue growth of 35.62% over the last twelve months as of Q4 2023.
The company's commitment to shareholder returns is evident, as it has raised its dividend for 7 consecutive years, a sign of management's confidence in the firm's financial stability and future earnings potential. This is further underscored by a generous dividend yield of 5.95% as of the latest data, which may appeal to income-focused investors.
Among the InvestingPro Tips, it's worth highlighting that BRT Apartments Corp. is profitable over the last twelve months, which could reassure investors about the company's ability to generate positive earnings. Moreover, the company has delivered a high return over the last decade, which could be indicative of its long-term growth and resilience in the real estate sector.
Investors looking for more detailed analysis and additional InvestingPro Tips can explore the insights available on InvestingPro. There are 8 more tips listed on the platform, which could provide a deeper understanding of BRT Apartments Corp.'s prospects and performance. For those interested, remember to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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