Short Interest in Bluerock Residential Growth REIT Inc (BRG) Grows By 58.6%

Bluerock Residential Growth REIT Inc (NYSE:BRG) saw a significant increase in short interest in October. As of October 31st, there was short interest totalling 1,163,063 shares, an increase of 58.6% from the October 13th total of 733,262 shares. Based on an average trading volume of 287,311 shares, the short-interest ratio is currently 4.0 days. Currently, 4.8% of the shares of the company are sold short.

Several equities analysts have recently issued reports on the company. TheStreet lowered Bluerock Residential Growth REIT from a “c” rating to a “d+” rating in a report on Tuesday, November 7th. B. Riley reaffirmed a “buy” rating and issued a $14.00 target price on shares of Bluerock Residential Growth REIT in a report on Wednesday. Zacks Investment Research raised Bluerock Residential Growth REIT from a “sell” rating to a “hold” rating in a report on Tuesday, October 31st. Northland Securities reaffirmed a “buy” rating and issued a $14.25 target price on shares of Bluerock Residential Growth REIT in a report on Tuesday, October 24th. Finally, Compass Point lowered Bluerock Residential Growth REIT from a “buy” rating to a “neutral” rating and reduced their target price for the company from $16.50 to $11.00 in a report on Monday, August 7th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $13.85.

Several hedge funds have recently added to or reduced their stakes in BRG. D.A. Davidson & CO. grew its holdings in Bluerock Residential Growth REIT by 109.6% during the third quarter. D.A. Davidson & CO. now owns 232,471 shares of the company’s stock valued at $2,571,000 after purchasing an additional 121,573 shares during the period. Harbour Capital Advisors LLC grew 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 purchasing an additional 112,955 shares during the period. JPMorgan Chase & Co. grew its holdings in Bluerock Residential Growth REIT by 52.8% during the third quarter. JPMorgan Chase & Co. now owns 325,900 shares of the company’s stock valued at $3,503,000 after purchasing an additional 112,600 shares during the period. Vanguard Group Inc. grew its holdings in Bluerock Residential Growth REIT by 10.4% during the second quarter. Vanguard Group Inc. now owns 951,715 shares of the company’s stock valued at $12,267,000 after purchasing an additional 89,432 shares during the period. Finally, TIAA CREF Investment Management LLC grew its holdings in Bluerock Residential Growth REIT by 75.9% during the second quarter. TIAA CREF Investment Management LLC now owns 135,862 shares of the company’s stock valued at $1,751,000 after purchasing an additional 58,606 shares during the period.

Bluerock Residential Growth REIT (NYSE:BRG) opened at $11.65 on Friday. Bluerock Residential Growth REIT has a twelve month low of $9.68 and a twelve month high of $14.77.

The firm also recently announced a monthly dividend, which will be paid on Friday, January 5th. Stockholders of record on Friday, December 22nd will be issued a $0.0967 dividend. This represents a $1.16 annualized dividend and a dividend yield of 9.96%. The ex-dividend date of this dividend is Thursday, December 21st.

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About Bluerock Residential Growth REIT

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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