Raymond James Financial Inc. Makes New $795,000 Investment in BRT Apartments Corp. (NYSE:BRT)

Raymond James Financial Inc. acquired a new stake in BRT Apartments Corp. (NYSE:BRT - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 44,087 shares of the financial services provider's stock, valued at approximately $795,000. Raymond James Financial Inc. owned 0.23% of BRT Apartments as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Noesis Capital Mangement Corp raised its holdings in BRT Apartments by 50.0% during the 4th quarter. Noesis Capital Mangement Corp now owns 15,000 shares of the financial services provider's stock worth $270,000 after purchasing an additional 5,000 shares during the last quarter. Wealth Alliance lifted its holdings in BRT Apartments by 141.7% in the fourth quarter. Wealth Alliance now owns 65,621 shares of the financial services provider's stock valued at $1,183,000 after buying an additional 38,475 shares during the period. Albert D Mason Inc. boosted its position in BRT Apartments by 1.1% during the fourth quarter. Albert D Mason Inc. now owns 69,119 shares of the financial services provider's stock valued at $1,246,000 after acquiring an additional 756 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in BRT Apartments by 127.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 21,621 shares of the financial services provider's stock worth $380,000 after acquiring an additional 12,103 shares during the period. Finally, Tidal Investments LLC bought a new position in shares of BRT Apartments in the 3rd quarter worth about $320,000. 29.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BRT has been the topic of several research analyst reports. Colliers Securities lowered BRT Apartments from a "buy" rating to a "neutral" rating in a research report on Thursday, March 13th. B. Riley cut their price target on BRT Apartments from $22.00 to $21.00 and set a "buy" rating on the stock in a report on Thursday, March 27th. Finally, StockNews.com lowered shares of BRT Apartments from a "hold" rating to a "sell" rating in a research note on Tuesday, April 1st.

Insider Buying and Selling at BRT Apartments

In related news, CFO George Zweier sold 2,143 shares of the firm's stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $18.06, for a total value of $38,702.58. Following the transaction, the chief financial officer now owns 120,797 shares of the company's stock, valued at approximately $2,181,593.82. This trade represents a 1.74 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 40.20% of the stock is currently owned by company insiders.

BRT Apartments Stock Down 3.1 %

BRT stock traded down $0.50 during trading on Thursday, reaching $15.33. 34,615 shares of the stock were exchanged, compared to its average volume of 32,817. The company has a current ratio of 1.94, a quick ratio of 1.94 and a debt-to-equity ratio of 2.31. BRT Apartments Corp. has a twelve month low of $14.61 and a twelve month high of $20.22. The firm's 50 day moving average is $17.41 and its 200 day moving average is $17.77. The firm has a market cap of $290.10 million, a P/E ratio of -28.91 and a beta of 0.92.

BRT Apartments Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Thursday, March 27th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 6.53%. The ex-dividend date was Thursday, March 27th. BRT Apartments's payout ratio is currently -188.68%.

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.