Zacks Investment Research Lowers Bluerock Residential Growth REIT (NYSEAMERICAN:BRG) to Sell

Zacks Investment Research cut shares of Bluerock Residential Growth REIT (NYSEAMERICAN:BRG) from a hold rating to a sell rating in a report issued on Tuesday, January 9th.

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, Janney Montgomery Scott downgraded Bluerock Residential Growth REIT from a buy rating to a neutral rating in a research note on Tuesday, December 12th.

Shares of Bluerock Residential Growth REIT (BRG) traded down $0.07 during trading hours on Tuesday, reaching $9.05. The company’s stock had a trading volume of 291,000 shares, compared to its average volume of 386,275. Bluerock Residential Growth REIT has a fifty-two week low of $8.95 and a fifty-two week high of $13.94. The company has a current ratio of 304.45, a quick ratio of 304.45 and a debt-to-equity ratio of 2.47. The stock has a market cap of $225.37, a price-to-earnings ratio of -28.28 and a beta of 0.72.

Bluerock Residential Growth REIT (NYSEAMERICAN:BRG) last issued its earnings results on Tuesday, November 7th. The financial services provider reported ($0.45) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.03) by ($0.42). Bluerock Residential Growth REIT had a return on equity of 30.92% and a net margin of 128.54%.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 5th. Investors of record on Friday, March 23rd will be paid a dividend of $0.1625 per share. The ex-dividend date is Thursday, March 22nd. This represents a $0.65 dividend on an annualized basis and a dividend yield of 7.18%. Bluerock Residential Growth REIT’s dividend payout ratio (DPR) is presently -362.50%.

A number of hedge funds have recently bought and sold shares of BRG. Kalos Management Inc. bought a new position in Bluerock Residential Growth REIT in the 3rd quarter worth approximately $298,000. EJF Capital LLC boosted its stake in Bluerock Residential Growth REIT by 21.4% in the 3rd quarter. EJF Capital LLC now owns 85,000 shares of the financial services provider’s stock worth $940,000 after purchasing an additional 15,000 shares during the period. Janney Montgomery Scott LLC boosted its stake in Bluerock Residential Growth REIT by 27.0% in the 3rd quarter. Janney Montgomery Scott LLC now owns 51,198 shares of the financial services provider’s stock worth $566,000 after purchasing an additional 10,898 shares during the period. Finally, Ladenburg Thalmann Financial Services Inc. boosted its stake in Bluerock Residential Growth REIT by 63.0% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 16,652 shares of the financial services provider’s stock worth $184,000 after purchasing an additional 6,438 shares during the period. Institutional investors and hedge funds own 34.46% of the company’s stock.

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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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