Bluerock Residential Growth REIT Inc (BRG) Sees Large Increase in Short Interest

Bluerock Residential Growth REIT Inc (NYSE:BRG) was the recipient of a significant increase in short interest in the month of October. As of October 13th, there was short interest totalling 733,262 shares, an increase of 16.5% from the September 29th total of 629,172 shares. Based on an average daily trading volume, of 196,816 shares, the days-to-cover ratio is currently 3.7 days. Approximately 3.0% of the shares of the company are short sold.

Shares of Bluerock Residential Growth REIT (NYSE:BRG) opened at 11.45 on Friday. Bluerock Residential Growth REIT has a 1-year low of $9.68 and a 1-year high of $14.77. The company’s 50 day moving average price is $10.93 and its 200-day moving average price is $11.98. The company has a market capitalization of $277.00 million and a price-to-earnings ratio of 99.57.

The firm also recently declared a monthly dividend, which will be paid on Friday, January 5th. Shareholders of record on Friday, December 22nd will be issued a dividend of $0.0967 per share. The ex-dividend date of this dividend is Thursday, December 21st. This represents a $1.16 dividend on an annualized basis and a yield of 10.13%.

A number of large investors have recently bought and sold shares of BRG. Russell Investments Group Ltd. raised its holdings in Bluerock Residential Growth REIT by 2.9% during the second quarter. Russell Investments Group Ltd. now owns 95,111 shares of the company’s stock valued at $1,226,000 after acquiring an additional 2,671 shares during the period. Harbour Capital Advisors LLC raised its holdings in Bluerock Residential Growth REIT by 1,189.0% during the second quarter. Harbour Capital Advisors LLC now owns 122,455 shares of the company’s stock valued at $9,500,000 after acquiring an additional 112,955 shares during the period. Rhumbline Advisers raised its holdings in Bluerock Residential Growth REIT by 1.5% during the second quarter. Rhumbline Advisers now owns 30,375 shares of the company’s stock valued at $392,000 after acquiring an additional 459 shares during the period. Bank of New York Mellon Corp raised its holdings in Bluerock Residential Growth REIT by 0.7% during the second quarter. Bank of New York Mellon Corp now owns 212,097 shares of the company’s stock valued at $2,734,000 after acquiring an additional 1,500 shares during the period. Finally, BB&T Securities LLC raised its holdings in Bluerock Residential Growth REIT by 30.4% during the second quarter. BB&T Securities LLC now owns 97,701 shares of the company’s stock valued at $1,259,000 after acquiring an additional 22,801 shares during the period.

Several brokerages have issued reports on BRG. Northland Securities restated a “buy” rating and issued a $14.25 target price on shares of Bluerock Residential Growth REIT in a research note on Tuesday. Zacks Investment Research lowered Bluerock Residential Growth REIT from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. Compass Point lowered Bluerock Residential Growth REIT from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $16.50 to $11.00 in a research note on Monday, August 7th. Finally, FBR & Co reiterated an “outperform” rating and set a $15.00 price objective on shares of Bluerock Residential Growth REIT in a research note on Tuesday, July 11th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Bluerock Residential Growth REIT presently has a consensus rating of “Buy” and a consensus target price of $13.81.

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Bluerock Residential Growth REIT Company Profile

Bluerock Residential Growth REIT, Inc is a real estate investment trust. The Company is focused on acquiring a portfolio of residential real estate assets. As of December 31, 2016, the Company’s portfolio consisted of interests in 31 properties (21 operating and 10 development properties). As of December 31, 2016, its properties contained an aggregate of 9,570 units, consisting of 6,972 operating units and 2,598 units under development.

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