Form 4: BRT Apartments Corp. Senior VP Matthew Gould Increases Stake with Recent Stock Purchases

Matthew J. Gould, Senior Vice President and Director of BRT Apartments Corp., has increased his beneficial ownership in the company through recent open market purchases of common stock.

Summary

• Matthew J. Gould, a Director, 10% Owner, and Senior Vice President of BRT Apartments Corp., acquired a total of 14,500 shares of common stock in two separate open market transactions.
• On May 21, 2025, Mr. Gould purchased 7,000 shares at a weighted average price of $15.8237 per share, with trades ranging from $15.73 to $15.85.
• On May 22, 2025, an additional 7,500 shares were acquired at a weighted average price of $15.5368 per share, with trades ranging from $15.28 to $15.71.
• Following these transactions, Mr. Gould's total beneficial ownership, including direct and indirect holdings through various trusts and entities, stands at approximately 4,515,241.4966 shares of BRT Apartments Corp. common stock.
• Indirect holdings include shares through Gould Family Trust (0.575 shares), Gould Shenfeld Family Foundation (24,508.303 shares), BRT Apartments Corp. Pension Trust (20,874 shares), 130 Store Company LLC (29,795.171 shares), and Gould Investors L.P. (3,943,683.9496 shares), with many of these shares acquired via the issuer's dividend reinvestment plan.
• Mr. Gould disclaims beneficial ownership of securities held by 130 Store Company LLC and Gould Investors L.P. to the extent he does not have a pecuniary interest therein.

Sentiment

Score: 8

Explanation: The insider purchases by a key executive and director indicate strong confidence in the company's valuation and future prospects, which is a positive signal for investors.

Positives

• Insider buying by a key executive and director, Matthew J. Gould, signals strong confidence in the company's future prospects and current valuation.
• The acquisition of 14,500 shares represents a significant increase in Mr. Gould's direct and indirect personal stake in BRT Apartments Corp.

Future Outlook

This Form 4 filing does not contain specific forward-looking statements or guidance regarding the company's future outlook.

Management Comments

• "This transaction was executed in multiple trades at prices ranging from $15.73 to $15.85. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected." (Regarding May 21, 2025 transaction)
• "This transaction was executed in multiple trades at prices ranging from $15.28 to $15.71. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected." (Regarding May 22, 2025 transaction)

Industry Context

Insider purchases, such as those reported in this Form 4, are generally viewed by the market as a positive signal, indicating that company insiders believe the stock is undervalued or expect positive developments. This activity is specific to BRT Apartments Corp. and does not directly reflect broader industry trends, though it may indirectly suggest confidence within the real estate investment trust (REIT) sector if the insider's outlook is tied to general market conditions.

Comparison to Industry Standards

• This document reports on insider trading activity, which is not directly comparable to industry-wide financial performance benchmarks or project results.
• However, significant insider buying, especially by a senior executive and director, is generally considered a strong indicator of management's confidence in the company's intrinsic value and future prospects, a sentiment often sought by investors when evaluating companies within the REIT sector like BRT Apartments Corp. against peers such as Equity Residential (EQIX) or AvalonBay Communities (AVB).

Related Party Transactions

• Matthew J. Gould's indirect beneficial ownership includes shares held by entities where he serves as a trustee or manager, such as the Gould Family Trust, Gould Shenfeld Family Foundation, BRT Apartments Corp. Pension Trust, 130 Store Company LLC, and Gould Investors L.P.
• Mr. Gould disclaims beneficial ownership of securities held by 130 Store Company LLC and Gould Investors L.P. to the extent he does not have a pecuniary interest therein.

Stakeholder Impact

• Shareholders: The insider buying could instill greater confidence among existing and potential shareholders, potentially leading to increased investor interest and a positive impact on share price.
• Management/Employees: Demonstrates alignment of interests between senior management and shareholders.

Next Steps

• The reporting person undertakes to provide full information regarding the number of shares and prices at which the transactions were effected upon request to the SEC staff, the issuer, or a security holder.

Key Dates

Recommendation

Keywords

BRT Apartments Corp., BRT, Matthew J. Gould, Insider Trading, Form 4, Stock Purchase, Beneficial Ownership, Real Estate, REIT