BRT Apartments Corp. (NYSE:BRT) Shares Sold by Oppenheimer & Close LLC

Oppenheimer & Close LLC lessened its stake in BRT Apartments Corp. (NYSE:BRT) by 2.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 340,379 shares of the financial services provider’s stock after selling 6,875 shares during the period. BRT Apartments accounts for approximately 4.8% of Oppenheimer & Close LLC’s portfolio, making the stock its 4th largest position. Oppenheimer & Close LLC’s holdings in BRT Apartments were worth $5,786,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in BRT. Vanguard Group Inc. increased its holdings in BRT Apartments by 62.7% in the fourth quarter. Vanguard Group Inc. now owns 1,113,057 shares of the financial services provider’s stock valued at $20,068,000 after buying an additional 429,046 shares in the last quarter. Advisor Resource Council acquired a new stake in BRT Apartments during the first quarter worth approximately $994,000. Raymond James Financial Inc. acquired a new stake in BRT Apartments during the fourth quarter worth approximately $795,000. Lesa Sroufe & Co purchased a new stake in shares of BRT Apartments during the 1st quarter valued at $297,000. Finally, JPMorgan Chase & Co. boosted its holdings in BRT Apartments by 76.2% in the fourth quarter. JPMorgan Chase & Co. now owns 38,087 shares of the financial services provider’s stock valued at $687,000 after acquiring an additional 16,466 shares during the last quarter. 29.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on BRT shares. Wall Street Zen upgraded BRT Apartments from a “sell” rating to a “hold” rating in a report on Friday, June 27th. B. Riley cut their target price on shares of BRT Apartments from $22.00 to $21.00 and set a “buy” rating on the stock in a report on Thursday, March 27th. Finally, Colliers Securities cut shares of BRT Apartments from a “buy” rating to a “neutral” rating in a report on Thursday, March 13th.

Insider Activity at BRT Apartments

In related news, major shareholder Investors L. P. Gould bought 10,119 shares of the firm’s stock in a transaction on Monday, May 12th. The stock was bought at an average price of $15.45 per share, with a total value of $156,338.55. Following the purchase, the insider directly owned 3,914,065 shares of the company’s stock, valued at approximately $60,472,304.25. This represents a 0.26% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Jeffrey Gould bought 3,026 shares of the firm’s stock in a transaction on Thursday, June 5th. The shares were bought at an average cost of $15.93 per share, with a total value of $48,204.18. Following the purchase, the chief executive officer directly owned 3,973,570 shares in the company, valued at approximately $63,298,970.10. This trade represents a 0.08% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 39,947 shares of company stock worth $624,022. 42.00% of the stock is currently owned by company insiders.

BRT Apartments Price Performance

NYSE BRT opened at $16.19 on Friday. BRT Apartments Corp. has a 12 month low of $14.61 and a 12 month high of $20.22. The company has a debt-to-equity ratio of 2.43, a current ratio of 1.99 and a quick ratio of 1.99. The firm has a market capitalization of $306.48 million, a PE ratio of -33.73 and a beta of 1.01. The company’s 50 day simple moving average is $15.75 and its 200 day simple moving average is $16.71.

BRT Apartments Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Wednesday, June 25th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, June 25th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.18%. BRT Apartments’s dividend payout ratio is presently -208.33%.

About BRT Apartments

BRT Apartments Corp. is a real estate investment trust. It engages in the ownership, operation, and holding interests in joint ventures that own and operate multi-family properties. The company was founded in June 1972 and is headquartered in Great Neck, NY.