BRT Apartments Corp. (NYSE:BRT) Senior Vice President Matthew J. Gould has recently increased his stake in the company, purchasing shares valued at more than $52,000. The transactions, which took place on March 27, 2024, involved buying a total of 3,300 shares at prices ranging between $16.00 and $16.09 per share.
Investors following BRT Apartments Corp. might be interested in these recent insider trading activities, as they can offer insights into how the company's executives view the stock's value. The purchase by Gould, who holds multiple roles within the organization, including as a trustee and officer for various related entities, suggests a positive outlook on the company's prospects.
The shares were acquired indirectly through Gould Investors L.P., a partnership where Gould serves as an officer of the managing general partner. According to the filing, these shares are part of the total holdings of Gould Investors L.P., which includes shares acquired through the issuer's dividend reinvestment plan.
Following these transactions, the total number of shares owned by Gould Investors L.P. in BRT Apartments Corp. increased to 3,551,172.876 shares. It is important to note that these shares represent all shares of the issuer owned by Gould Investors L.P., including those in which Gould does not have a pecuniary interest.
BRT Apartments Corp., a real estate investment trust based in New York, focuses on owning and operating multi-family properties. The company has a history that includes several name changes, with its current name being adopted after a change from BRT Realty (NYSE:BRT) Trust in 2017.
The transactions are part of a standard disclosure in a Form 4 filing with the Securities and Exchange Commission, which executives and insiders of publicly traded companies use to report changes in their company holdings. These filings provide transparency and ensure that the public is informed about insider transactions in a timely manner.
The stock market often looks to insider buying and selling as one of the many indicators of a stock's future performance, although it is not the only factor investors consider when making decisions. With Gould's recent purchase, market watchers will be keen to see how BRT Apartments Corp.'s stock performs in the upcoming period.
InvestingPro Insights
In light of Matthew J. Gould's recent share purchase in BRT Apartments Corp., investors might find the following insights from InvestingPro particularly enlightening. With a market capitalization of $328.18 million and a robust revenue growth of 35.62% over the last twelve months as of Q4 2023, BRT Apartments Corp. is demonstrating a significant expansion in its financial performance.
However, the company is trading at a high earnings multiple, with a P/E ratio of 103.56, suggesting that the stock might be valued optimistically by the market. This is further evidenced by an adjusted P/E ratio for the same period that dips into the negative at -41.85, indicating that while the company has been profitable over the last twelve months, analysts are cautious about its profitability in the near future.
InvestingPro Tips highlight that management's aggressive share buyback strategy and a consistent increase in dividends for seven consecutive years reflect a commitment to shareholder value. Moreover, the company's dividend yield stands at an attractive 5.95% as of the latest data, which could be a compelling factor for income-seeking investors.
For those interested in a deeper analysis, there are additional InvestingPro Tips available, which could provide further insights into BRT Apartments Corp.'s valuation, growth prospects, and financial health. By using the coupon code PRONEWS24, readers can get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking even more valuable investment information.
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