BRT Announces Dividend Payment and Stock Repurchase Program
On September 12, BRT Apartments, Inc. announced that it would be paying a quarterly dividend of $0.18 per share to its stockholders and that it would be renewing its stock repurchase program. BRT is a real estate investment trust that has not paid a dividend since September 2009. The company may buy back up to $5 million worth of shares over the next five years.
The news triggered a level 2 Sonal alert at 1:31 pm when the stock price was $8.05.
The stock price experienced a surge throughout the day to $9.89. After the initial surge, the upward price trend continued for the next two trading sessions. BRT closed at $10.25 three days after the announcement.
The level 2 Sonal alert provided investors with opportunities to trade on the same-day surge as well as the trend in the following days.
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