Gould Investors L.P., a significant shareholder in BRT Apartments Corp. (NYSE:BRT), has recently increased its stake in the company with a purchase of additional shares. On March 21, 2024, the investment partnership bought 3,471 shares of BRT Apartments Corp. at a weighted average price of $16.2632, amounting to a total investment of approximately $56,449.
The transaction, which was executed in multiple trades, saw share prices ranging from $16.22 to $16.30. This latest acquisition by Gould Investors L.P. brings their total ownership in the real estate investment trust to 3,532,397.876 shares, which includes shares acquired through the issuer's dividend reinvestment plan.
BRT Apartments Corp. is known for its portfolio of residential properties and has been a notable player in the real estate investment trusts industry. The purchase by Gould Investors L.P. reflects an ongoing interest in the company's performance and prospects.
Investors often look at the buying and selling activities of significant shareholders as an indicator of confidence in the company's future performance. Transactions like these are publicly reported to ensure transparency and provide stakeholders with critical information regarding insider activities.
The reporting person has undertaken to provide full information regarding the number of shares and the prices at which the transaction was effected upon request to the SEC staff, the issuer, or a security holder of the issuer. The details of the transaction were formally filed with the SEC and are accessible for public review.
InvestingPro Insights
As BRT Apartments Corp. (NYSE:BRT) captures the attention of key stakeholders like Gould Investors L.P., it's worthwhile to delve into the company's financial health and market performance. According to InvestingPro data, BRT Apartments Corp. has a market capitalization of $324.86 million, reflecting its size and significance in the real estate investment trusts industry. Despite the company's substantial revenue growth over the last twelve months, with a 35.62% increase as of Q4 2023, there are noteworthy aspects to consider.
BRT Apartments Corp. is trading at a high earnings multiple, with a P/E Ratio of 102.45, suggesting that the market has high expectations for future earnings growth. This is further emphasized by the company's high EBIT valuation multiple. However, the company's net income is expected to drop this year, and analysts do not anticipate BRT to be profitable within the same timeframe. These InvestingPro Tips could be pivotal for investors trying to gauge the company's future profitability and earnings potential.
On a positive note, BRT has raised its dividend for 7 consecutive years, with a notable dividend yield of 5.97% as of the latest data, which could be attractive to income-focused investors. Additionally, management's aggressive share buyback strategy might indicate confidence in the company's valuation and prospects. For investors keen on understanding the full picture, there are 7 additional InvestingPro Tips available for BRT Apartments Corp., which can be explored to make a more informed investment decision.
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