Insider Trading Report: BRT Apartments Corp (BRT)

Jeffery Gould, President and CEO at BRT Apartments Corp (BRT), recently picked up 14,735 shares. The buy increased his holdings by 0.4 percent, and came to a total price just over $320,000.

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  • He was joined by a senior vice president, who also picked up about 15,000 shares, paying about the same amount as well. Insiders were largely sellers of shares in the past three years before these recent buys.

    Overall, company insiders own about 20.1 percent of shares.

    The apartment REIT is up about 9 percent in the past year, thanks in part to rising rental rates holding up that part of the real estate market. Earnings are up nearly 491 percent, and revenue is up a staggering 746 percent in the past year for the REIT.

    Action to take: Investors may like shares here. REITs are structured to pay out a high dividend, and BRT yields about 4.7 percent at current prices. Plus, as mortgage rates rise, it’s likely that more prospective buyers will continue renting, so this trend has some time to play out.

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  • For traders, the March 2023 $22.50 calls are a near-the-money option last going for about $2.00. Traders can likely see mid-double-digit growth as shares the REIT are likely to keep trending higher in the coming months.

     

    Disclosure: The author of this article has no position in the company mentioned here, but may trade after the next 72 hours. The author receives no compensation from any of the companies mentioned in this article.