Bluerock Residential (NYSEAMERICAN:BRG) announced a quarterly dividend on Friday, December 22nd, Wall Street Journal reports. Investors of record on Friday, March 23rd will be given a dividend of 0.1625 per share by the financial services provider on Thursday, April 5th. This represents a $0.65 annualized dividend and a yield of 7.44%. The ex-dividend date of this dividend is Thursday, March 22nd.
BRG stock traded up $0.07 during midday trading on Friday, hitting $8.74. 210,795 shares of the stock traded hands, compared to its average volume of 350,253. The company has a debt-to-equity ratio of 2.47, a quick ratio of 304.45 and a current ratio of 304.45. Bluerock Residential has a 1-year low of $7.02 and a 1-year high of $13.77.
Bluerock Residential (NYSEAMERICAN:BRG) last released its quarterly earnings results on Wednesday, February 14th. The financial services provider reported ($1.87) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by ($1.91). Bluerock Residential had a negative net margin of 129.33% and a negative return on equity of 98.46%. The firm had revenue of $36.45 million for the quarter, compared to analyst estimates of $34.95 million.
Bluerock Residential announced that its Board of Directors has initiated a stock buyback plan on Wednesday, February 14th that authorizes the company to repurchase $25.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
Several analysts have recently issued reports on BRG shares. Zacks Investment Research lowered shares of Bluerock Residential from a “hold” rating to a “sell” rating in a research report on Tuesday, January 9th. Janney Montgomery Scott lowered shares of Bluerock Residential from a “buy” rating to a “neutral” rating in a research report on Tuesday, December 12th. National Securities upgraded shares of Bluerock Residential from a “neutral” rating to a “buy” rating in a research report on Tuesday, February 20th. Northland Securities set a $13.00 target price on shares of Bluerock Residential and gave the company a “buy” rating in a research report on Thursday, February 15th. Finally, B. Riley set a $11.50 target price on shares of Bluerock Residential and gave the company a “buy” rating in a research report on Thursday, February 22nd. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $12.25.
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About Bluerock Residential
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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