Bluerock Residential Growth REIT (NYSEAMERICAN:BRG) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of Bluerock Residential Growth REIT (NYSEAMERICAN:BRG) from a hold rating to a strong-buy rating in a research note issued to investors on Wednesday morning, Zacks.com reports. They currently have $14.00 target price on the financial services provider’s stock.

According to Zacks, “Bluerock Residential Growth REIT, Inc. operates as a real estate investment trust. It acquires apartment properties in demographically attractive growth markets throughout the United States. Bluerock Residential Growth REIT, Inc. is based in New York. “

Separately, Boenning Scattergood restated a buy rating and issued a $12.00 price objective on shares of Bluerock Residential Growth REIT in a research note on Wednesday, May 8th.

NYSEAMERICAN BRG opened at $11.70 on Wednesday. Bluerock Residential Growth REIT has a 12-month low of $8.19 and a 12-month high of $12.28.

Bluerock Residential Growth REIT (NYSEAMERICAN:BRG) last posted its earnings results on Tuesday, May 7th. The financial services provider reported ($0.53) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.12 by ($0.65). The business had revenue of $51.47 million for the quarter, compared to analysts’ expectations of $51.15 million.

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 5th. Stockholders of record on Tuesday, June 25th were paid a $0.1625 dividend. This represents a $0.65 dividend on an annualized basis and a dividend yield of 5.56%. The ex-dividend date was Monday, June 24th.

Several institutional investors have recently modified their holdings of the company. Rhumbline Advisers lifted its stake in shares of Bluerock Residential Growth REIT by 2.6% in the first quarter. Rhumbline Advisers now owns 37,329 shares of the financial services provider’s stock worth $402,000 after buying an additional 962 shares during the last quarter. Nisa Investment Advisors LLC increased its position in Bluerock Residential Growth REIT by 3.6% during the first quarter. Nisa Investment Advisors LLC now owns 31,610 shares of the financial services provider’s stock worth $341,000 after acquiring an additional 1,110 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its position in Bluerock Residential Growth REIT by 24.4% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 14,800 shares of the financial services provider’s stock worth $133,000 after acquiring an additional 2,900 shares during the period. Bessemer Group Inc. bought a new position in Bluerock Residential Growth REIT during the fourth quarter worth $32,000. Finally, BNP Paribas Arbitrage SA increased its position in Bluerock Residential Growth REIT by 523.3% during the first quarter. BNP Paribas Arbitrage SA now owns 4,993 shares of the financial services provider’s stock worth $54,000 after acquiring an additional 4,192 shares during the period. Institutional investors and hedge funds own 34.46% of the company’s stock.

Bluerock Residential Growth REIT Company Profile

Bluerock Residential Growth REIT, Inc (NYSE American: BRG) is a real estate investment trust that focuses on developing and acquiring a diversified portfolio of institutional-quality highly amenitized live/work/play apartment communities in demographically attractive knowledge economy growth markets to appeal to the renter by choice.

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