Roberts Makes $4M on $18M Apartment Sale

ATLANTA-Roberts Realty Investors Inc. has come out of an $18-million apartment sale deal with a profit of $4 million, Charles S. Roberts, the company’s CEO, says in a prepared statement.

Roberts didn’t respond to a GlobeSt.com request for the seller’s name on the disposition of its Highland Park asset. However, in the statement, he notes “the price of $17,988,143 resulted in a $4 million profit” and “the sale supports our belief that our stock trades at a price that does not reflect the value of our properties.”

The locally based REIT is trading on the American Stock Exchange in the $6.76 per-share range. The company’s 52-week high-low was $6.90 and $5.85.