Investors may take interest as Matthew J. Gould, Senior Vice President of BRT Apartments Corp. (NYSE:BRT), has recently purchased shares of the company worth approximately $360,842. The transactions took place over several days, with prices ranging from $16.1387 to $16.4779 per share.
Gould's purchases demonstrate a tangible commitment to the company, as the acquisition of a significant number of shares can often be interpreted as a positive signal about the future prospects of the business. The series of transactions involved multiple trades, with Gould acquiring a total of 22,214 shares across different dates.
On March 18, 2024, Gould bought 2,277 shares at a weighted average price of $16.2895. The following day, he added 991 shares to his holdings at an average price of $16.2514. The buying spree continued on March 22, with the acquisition of 3,471 shares at a weighted average price of $16.2632. On March 25, Gould purchased 4,275 shares at an average price of $16.4779, and on March 26, he bought an additional 11,200 shares at $16.1387 per share.
These transactions were executed in multiple trades, and the prices reported reflect the weighted average sale price for each day. Gould has undertaken to provide full information regarding the number of shares and the prices at which the transactions were effected upon request to the SEC staff, the issuer, or a security holder of the issuer.
Matthew J. Gould holds multiple roles within the company and related entities, including as a trustee of the Gould Family Trust and the Gould Shenfeld Family Foundation, as well as being an officer of the managing general partner of Gould Investors L.P. It's worth noting that some of the shares acquired through these transactions are indirectly owned by entities Gould is associated with, including Gould Investors L.P., which holds a substantial number of shares in BRT Apartments Corp.
The recent transactions by Gould may be of interest to current and potential investors, as insider purchases can sometimes provide insights into the company's performance and insider confidence.
InvestingPro Insights
The recent insider purchases by Matthew J. Gould align with a broader pattern of confidence in BRT Apartments Corp., as reflected in the company's financial metrics and strategic decisions. According to InvestingPro data, BRT Apartments Corp. has a market capitalization of $320.56 million and has been trading at a high earnings multiple, with a P/E ratio of 100.18. Despite this high valuation, the company has a history of raising its dividend for 7 consecutive years, with a current dividend yield of 6.33%, which is quite attractive for income-focused investors.
InvestingPro Tips suggest that BRT's management has been aggressively buying back shares, which may indicate a belief that the shares are undervalued. In addition, the company has been profitable over the last twelve months, with a basic and diluted EPS (Continuing Operations) of $0.16. This profitability, combined with a price/book ratio of 1.4 as of the last twelve months ending Q4 2023, suggests that the stock is trading at a reasonable valuation relative to its book value.
For investors seeking more comprehensive analysis and additional InvestingPro Tips, there are 8 more tips available on InvestingPro's platform for BRT Apartments Corp. These insights could provide a deeper understanding of the company's financial health and future prospects. Interested readers can take advantage of a special offer by using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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