Bluerock Residential Growth REIT, Inc. (NYSEAMERICAN:BRG) saw a large growth in short interest during the month of November. As of November 15th, there was short interest totalling 1,309,158 shares, a growth of 12.6% from the October 31st total of 1,163,063 shares. Approximately 5.4% of the company’s stock are short sold. Based on an average daily volume of 248,270 shares, the days-to-cover ratio is currently 5.3 days.
Shares of Bluerock Residential Growth REIT (NYSEAMERICAN BRG) opened at $10.99 on Monday. The company has a debt-to-equity ratio of 2.47, a current ratio of 304.45 and a quick ratio of 304.45. Bluerock Residential Growth REIT has a fifty-two week low of $9.68 and a fifty-two week high of $14.14.
The company also recently disclosed a monthly dividend, which was paid on Tuesday, December 5th. Shareholders of record on Friday, November 24th were paid a dividend of $0.097 per share. This represents a $1.16 annualized dividend and a yield of 10.59%. The ex-dividend date of this dividend was Wednesday, November 22nd. Bluerock Residential Growth REIT’s payout ratio is -362.50%.
A number of hedge funds and other institutional investors have recently bought and sold shares of BRG. Kalos Management Inc. purchased a new position in Bluerock Residential Growth REIT during the third quarter worth $298,000. EJF Capital LLC raised its holdings in shares of Bluerock Residential Growth REIT by 21.4% in the third quarter. EJF Capital LLC now owns 85,000 shares of the financial services provider’s stock valued at $940,000 after acquiring an additional 15,000 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in Bluerock Residential Growth REIT by 27.0% in the third quarter. Janney Montgomery Scott LLC now owns 51,198 shares of the financial services provider’s stock valued at $566,000 after purchasing an additional 10,898 shares during the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. grew its stake in Bluerock Residential Growth REIT by 63.0% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 16,652 shares of the financial services provider’s stock valued at $184,000 after purchasing an additional 6,438 shares during the last quarter. 34.46% of the stock is owned by institutional investors.
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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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