A month after offering to buy Peekskill Financial Corp., BRT Realty Trust has unloaded most of its stake in the New York thrift.

BRT, a Great Neck, N.Y., real estate investment trust, said in a filing last week with the Securities and Exchange Commission that it has sold about 90% of its 264,000 shares back to Peekskill.

The thrift holding company announced a repurchase plan in December, offering to buy up to 800,000 of its shares at up to $16.75 per share in a modified Dutch auction. BRT, which formerly owned a 9.29% stake, tendered its shares shortly before the offer expired. It now owns only 27,582 shares, or 1.35%, of the thrift's common stock outstanding.

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