Bluerock Residential Growth REIT Inc (NYSEAMERICAN:BRG) has received a consensus recommendation of “Buy” from the seven research firms that are covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $11.63.
BRG has been the topic of a number of recent analyst reports. Zacks Investment Research raised Bluerock Residential Growth REIT from a “sell” rating to a “hold” rating in a report on Tuesday, July 17th. Boenning Scattergood initiated coverage on Bluerock Residential Growth REIT in a report on Thursday, July 12th. They set an “outperform” rating and a $11.00 target price on the stock.
In other news, CIO James G. Babb III acquired 3,000 shares of the stock in a transaction on Saturday, November 17th. The shares were purchased at an average cost of $11.31 per share, for a total transaction of $33,930.00. Following the transaction, the executive now owns 1,000 shares in the company, valued at approximately $11,310. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Ramin Kamfar acquired 1,386 shares of the stock in a transaction on Wednesday, August 22nd. The shares were purchased at an average price of $21.56 per share, for a total transaction of $29,882.16. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 6,386 shares of company stock worth $85,992. Corporate insiders own 4.96% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Highland Capital Management LP grew its holdings in shares of Bluerock Residential Growth REIT by 26.6% during the 2nd quarter. Highland Capital Management LP now owns 1,000,000 shares of the financial services provider’s stock valued at $8,920,000 after acquiring an additional 209,962 shares in the last quarter. Sunbelt Securities Inc. lifted its stake in shares of Bluerock Residential Growth REIT by 86.3% in the 2nd quarter. Sunbelt Securities Inc. now owns 116,938 shares of the financial services provider’s stock valued at $1,043,000 after purchasing an additional 54,155 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Bluerock Residential Growth REIT in the 2nd quarter valued at $648,000. BRYN MAWR TRUST Co acquired a new stake in shares of Bluerock Residential Growth REIT in the 2nd quarter valued at $148,000. Finally, RMR Advisors LLC lifted its stake in shares of Bluerock Residential Growth REIT by 15.8% in the 2nd quarter. RMR Advisors LLC now owns 406,415 shares of the financial services provider’s stock valued at $3,625,000 after purchasing an additional 55,531 shares during the last quarter. Institutional investors and hedge funds own 34.46% of the company’s stock.
Shares of NYSEAMERICAN BRG opened at $8.89 on Thursday. The company has a quick ratio of 304.45, a current ratio of 304.45 and a debt-to-equity ratio of 2.47. Bluerock Residential Growth REIT has a 52-week low of $7.02 and a 52-week high of $11.81.
Bluerock Residential Growth REIT (NYSEAMERICAN:BRG) last released its quarterly earnings results on Tuesday, August 7th. The financial services provider reported ($0.44) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.10 by ($0.54). The business had revenue of $44.96 million for the quarter, compared to the consensus estimate of $42.70 million. Bluerock Residential Growth REIT had a negative net margin of 129.33% and a negative return on equity of 98.46%.
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 5th. Shareholders of record on Tuesday, September 25th were given a dividend of $0.1625 per share. This represents a $0.65 annualized dividend and a yield of 7.31%. The ex-dividend date was Monday, September 24th.
Bluerock Residential Growth REIT Company Profile
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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