Bluerock Residential Growth REIT (NYSEAMERICAN:BRG) Raised to “Strong-Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Bluerock Residential Growth REIT (NYSEAMERICAN:BRG) from a hold rating to a strong-buy rating in a research note issued to investors on Wednesday morning, Zacks.com reports. The brokerage currently has $14.00 target price on the financial services provider’s stock.

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. “

Other research analysts have also issued reports about the company. BidaskClub upgraded Bluerock Residential Growth REIT from a sell rating to a hold rating in a research note on Tuesday, July 30th. DA Davidson restated a buy rating on shares of Bluerock Residential Growth REIT in a research note on Monday, July 29th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Bluerock Residential Growth REIT has a consensus rating of Buy and a consensus price target of $13.00.

Shares of Bluerock Residential Growth REIT stock opened at $12.23 on Wednesday. Bluerock Residential Growth REIT has a 12-month low of $8.19 and a 12-month high of $12.65. The stock has a 50 day moving average price of $12.12 and a two-hundred day moving average price of $11.53.

Bluerock Residential Growth REIT (NYSEAMERICAN:BRG) last posted its quarterly earnings data on Tuesday, August 6th. The financial services provider reported ($0.50) earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.60). The firm had revenue of $52.44 million during the quarter, compared to the consensus estimate of $52.02 million.

The company also recently announced a — dividend, which was paid on Friday, October 4th. Investors of record on Wednesday, September 25th were paid a $0.1625 dividend. The ex-dividend date of this dividend was Tuesday, September 24th. This represents a dividend yield of 5.5%.

Several hedge funds and other institutional investors have recently modified their holdings of BRG. Nuveen Asset Management LLC acquired a new position in Bluerock Residential Growth REIT during the second quarter worth $4,705,000. Renaissance Technologies LLC boosted its holdings in Bluerock Residential Growth REIT by 58.8% in the second quarter. Renaissance Technologies LLC now owns 910,761 shares of the financial services provider’s stock valued at $10,701,000 after acquiring an additional 337,400 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Bluerock Residential Growth REIT by 11.8% in the second quarter. Vanguard Group Inc. now owns 1,354,429 shares of the financial services provider’s stock valued at $15,914,000 after acquiring an additional 143,116 shares during the last quarter. Centaurus Financial Inc. boosted its holdings in Bluerock Residential Growth REIT by 7,181.1% in the second quarter. Centaurus Financial Inc. now owns 128,438 shares of the financial services provider’s stock valued at $1,509,000 after acquiring an additional 126,674 shares during the last quarter. Finally, BlackRock Inc. boosted its holdings in Bluerock Residential Growth REIT by 7.0% in the second quarter. BlackRock Inc. now owns 1,787,415 shares of the financial services provider’s stock valued at $21,002,000 after acquiring an additional 117,240 shares during the last quarter. Institutional investors and hedge funds own 34.46% of the company’s stock.

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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