BRT Apartments Corp. announced that its Board of Directors approved the extension of the company’s share repurchase program through December 31, 2026. The board also increased the total value of shares authorized for repurchase to $10 million.
This strategic move indicates management's belief in the company's intrinsic value and its commitment to enhancing shareholder returns. From January 1, 2025, through February 28, 2025, BRT had already repurchased 65,018 shares of its common stock for approximately $1.1 million, at an average price of $17.49 per share.
The expanded program provides flexibility for the company to acquire its shares in the open market, which can be accretive to earnings per share. This capital allocation decision reflects a disciplined approach in the current market environment.
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