Broad Street Realty CEO acquires $4,051 in company stock

In a recent move that signals confidence in the company, Michael Z. Jacoby, Chief Executive Officer of Broad Street Realty, Inc. (NASDAQ:BRST), has acquired additional shares of the company's common stock. The transaction, which took place on August 23, involved the purchase of 22,510 shares at an average price of $0.18 per share. According to the filing, these shares were bought in multiple transactions with prices ranging from $0.1750 to $0.1887.

This acquisition increases Jacoby's direct ownership in the company to a total of 3,661,553 shares. It is worth noting that an additional 57,125 shares are held indirectly by Jacoby's spouse, although Jacoby disclaims beneficial ownership of these securities. The total value of the shares bought directly by the CEO amounted to approximately $4,051.

Broad Street Realty, a company with a focus on real estate, has not seen any sales of stock by Jacoby reported in this filing. Investors often look to purchases and sales by executives as a signal of their belief in the company's future prospects. Jacoby's purchase is thus likely to be interpreted as a positive sign by the market.

The company has undergone several name changes in the past, with its most recent being from MedAmerica Properties Inc. to Broad Street Realty, Inc. Headquartered in Reston, Virginia, Broad Street Realty is incorporated in Delaware and operates within the real estate sector.

Investors and shareholders of Broad Street Realty, Inc. can request full details of the transactions from Michael Z. Jacoby if needed for further clarification on the range of prices at which the shares were acquired.

In other recent news, Sachem Capital (NYSE:SACH) Corp. has made a significant addition to its Board of Directors. Jeffery C. Walraven, a seasoned professional with a rich background in real estate and public company leadership, has been appointed to the board. Walraven's previous experience includes co-founding Freehold Properties, Inc., serving as Chief Operating Officer, and holding various leadership roles at BDO USA, LLP. He has also been an independent director and audit committee member at Broad Street Realty, Inc. since 2023.

Sachem Capital's CEO and Chairman, John L. Villano, expressed confidence in Walraven's ability to contribute to the company's growth and shareholder value creation. Brian Prinz, independent director and Chair of the Nominating and Corporate Governance Committee, emphasized Walraven's public company accounting and corporate finance expertise. These recent developments suggest Sachem Capital is reinforcing its leadership team with experienced individuals to drive their business strategy.

InvestingPro Insights

Following the recent share acquisition by Michael Z. Jacoby, CEO of Broad Street Realty, Inc. (NASDAQ:BRST), investors may be interested in the latest metrics and performance indicators from InvestingPro. Broad Street Realty has demonstrated unique trends in stock performance and valuation metrics that could influence investor perception.

According to InvestingPro data, Broad Street Realty is trading at a low Price/Earnings (P/E) ratio relative to near-term earnings growth, with a P/E ratio of -0.4 for the last twelve months as of Q2 2024. This suggests that the company's earnings could be undervalued based on its growth prospects. Additionally, the stock has shown a significant price movement over the past month, with a 130.27% total return, indicating high volatility and potential for rapid gains.

The company's gross profit margin stands strong at 67.48%, reflecting its ability to retain a significant portion of revenue as gross profit. Despite a quarterly revenue decline of 7.67% in Q2 2024, Broad Street Realty has maintained a healthy gross profit. This financial health, combined with a high return over the last year, as indicated by an InvestingPro Tip, may be a contributing factor to the CEO's confidence in increasing his stake in the company.

For investors seeking a deeper analysis, there are additional InvestingPro Tips available, including insights into the stock's performance in relation to the market and its price/book multiple. A total of 11 InvestingPro Tips for Broad Street Realty can be found at https://www.investing.com/pro/BRST, offering a comprehensive view of the company's financial health and stock behavior.

InvestingPro also provides a fair value estimate for Broad Street Realty, which is currently set at $0.22, offering a reference point for investors considering the stock's potential value. As the next earnings date approaches on November 14, 2024, these insights could prove valuable for shareholders and potential investors assessing the company's prospects.

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