In a recent move that may attract the attention of investors, Matthew J. Gould, Senior Vice President of BRT Apartments Corp. (NYSE:BRT), acquired shares of the company with a total value exceeding $625,000. These purchases, made across several transactions, were executed at prices ranging from $16.8883 to $16.9996.
The series of acquisitions began on April 15, 2024, with Gould purchasing 11,212 shares at an average price of $16.9996. The buying continued on the following day, April 16, where he added another 12,850 shares to his holdings at an average price of $16.9537. On April 17, Gould further increased his stake by purchasing an additional 12,850 shares, this time at a slightly lower average price of $16.8883.
The transactions have been disclosed in accordance with SEC regulations, which require insiders to report their trading activities. Notably, these shares are indirectly owned by Gould through Gould Investors L.P., and the reported figures include shares obtained through the issuer's dividend reinvestment plan. The total number of shares owned by Gould Investors L.P. following these transactions now stands at 3,707,980.9731.
Matthew J. Gould's role as Senior Vice President and his involvement in various trusts and entities, such as the Gould Family Trust and the Gould Investors L.P., is indicative of his deep ties with BRT Apartments Corp. His recent acquisitions are part of the non-derivative securities transactions that insiders are often involved in, reflecting their ongoing investment in the company.
BRT Apartments Corp., a real estate investment trust, is known for its involvement in the ownership, operation, and development of multi-family properties. With Gould's recent share purchases, investors may be keeping a closer eye on the company's stock performance and any potential implications these insider transactions might have.
InvestingPro Insights
In light of the recent insider transactions at BRT Apartments Corp., it's worth considering the broader financial context of the company, as provided by InvestingPro. An InvestingPro Tip reveals that management has been aggressively buying back shares, which often signals confidence in the company's future prospects. Additionally, BRT Apartments Corp. has consistently raised its dividend for 7 consecutive years, suggesting a stable financial position and a commitment to returning value to shareholders.
From a valuation standpoint, BRT Apartments Corp. is trading at a high earnings multiple, with a P/E Ratio of 101.41. However, based on real-time data, the company has a P/E Ratio (Adjusted) for the last twelve months as of Q4 2023 at -41.49, which could indicate expectations of future earnings growth or a potential reassessment of the company's profitability. The Gross Profit Margin stands at a healthy 56.3%, demonstrating the company's ability to maintain profitability on its revenue.
To gain a deeper understanding of BRT Apartments Corp.'s financial health and for additional InvestingPro Tips, interested investors can explore further insights at https://www.investing.com/pro/BRT. With 7 more tips available, investors can make more informed decisions. Don't forget to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription for even more valuable insights.
InvestingPro Data metrics also shed light on the company's performance, with a notable Revenue Growth of 35.62% over the last twelve months as of Q4 2023. This growth trajectory could be a factor in Gould's decision to increase his stake in the company. The Dividend Yield as of the latest data stands at 5.95%, which may appeal to income-focused investors seeking steady payouts.
Overall, the combination of a strong dividend track record, share buybacks, and solid gross profit margins may present a compelling case for investors considering BRT Apartments Corp. as a potential addition to their portfolios.
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