On September 14, 2023, Michael Jacoby, CEO of Broad Street Realty Inc (BRST, Financial), purchased 7,798 shares of the company. This move is significant as it indicates the insider's confidence in the company's future prospects.
Michael Jacoby is a seasoned executive with a wealth of experience in the real estate industry. As the CEO of Broad Street Realty Inc, he has been instrumental in guiding the company's strategic direction and overseeing its operations. His decision to increase his stake in the company is a strong vote of confidence in its future.
Broad Street Realty Inc is a fully integrated and self-managed real estate company. The company owns, operates, develops and manages high-quality, primarily grocery-anchored shopping centers, in mid-Atlantic and Southeast areas in the United States. The company's portfolio includes a diverse mix of tenants that provide a wide range of goods and services, contributing to the stability of the company's rental income.
Over the past year, Michael Jacoby has purchased a total of 85,864 shares and has not sold any shares. This trend of consistent buying by the insider is a positive sign for investors.
The insider transaction history for Broad Street Realty Inc shows a total of 25 insider buys over the past year, with no insider sells. This trend suggests that insiders are bullish on the company's prospects.
On the day of Michael Jacoby’s recent buy, shares of Broad Street Realty Inc were trading for $1.13 each, giving the stock a market cap of $41.419 million.
With a price of $1.13 and a GuruFocus Value of $1.49, Broad Street Realty Inc has a price-to-GF-Value ratio of 0.76. This indicates that the stock is modestly undervalued based on its GF Value.
The GF Value is an intrinsic value estimate developed by GuruFocus. It is calculated based on historical multiples that the stock has traded at, a GuruFocus adjustment factor based on the company’s past returns and growth, and future estimates of business performance from Morningstar analysts.
The insider's decision to buy shares when the stock is undervalued suggests that they believe the stock's current price does not reflect its intrinsic value. This could be a signal to investors that the stock is a good buy at its current price.
In conclusion, the insider's recent purchase of Broad Street Realty Inc shares, coupled with the company's undervalued status, suggests that the stock could be a good investment opportunity. However, as always, potential investors should conduct their own research and consider their risk tolerance before making investment decisions.
