DA Davidson Analysts Decrease Earnings Estimates for Bluerock Residential Growth REIT Inc (NYSEAMERICAN:BRG)

Bluerock Residential Growth REIT Inc (NYSEAMERICAN:BRG) – Analysts at DA Davidson decreased their FY2019 earnings per share (EPS) estimates for Bluerock Residential Growth REIT in a research report issued on Wednesday, November 6th. DA Davidson analyst B. Oxford now anticipates that the financial services provider will post earnings per share of $0.50 for the year, down from their prior estimate of $0.51. DA Davidson currently has a “Buy” rating on the stock. DA Davidson also issued estimates for Bluerock Residential Growth REIT’s FY2020 earnings at $0.60 EPS.

Bluerock Residential Growth REIT (NYSEAMERICAN:BRG) last announced its quarterly earnings results on Tuesday, August 6th. The financial services provider reported ($0.50) earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.60). The business had revenue of $52.44 million for the quarter, compared to analyst estimates of $52.02 million.

BRG has been the subject of a number of other reports. Zacks Investment Research upgraded shares of Bluerock Residential Growth REIT from a “hold” rating to a “strong-buy” rating and set a $14.00 price target for the company in a research report on Wednesday, October 16th. BidaskClub upgraded shares of Bluerock Residential Growth REIT from a “sell” rating to a “hold” rating in a research report on Tuesday, July 30th. One equities research analyst has rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Bluerock Residential Growth REIT currently has an average rating of “Buy” and an average target price of $13.00.

Shares of BRG opened at $11.61 on Friday. Bluerock Residential Growth REIT has a 1-year low of $8.19 and a 1-year high of $12.65. The firm has a 50-day simple moving average of $12.12 and a two-hundred day simple moving average of $11.53.

In other Bluerock Residential Growth REIT news, insider Fisher Steven acquired 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was purchased at an average price of $14.78 per share, for a total transaction of $44,349.00. 4.96% of the stock is owned by company insiders.

Hedge funds have recently made changes to their positions in the stock. Cambridge Investment Research Advisors Inc. lifted its stake in Bluerock Residential Growth REIT by 5.0% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 65,230 shares of the financial services provider’s stock worth $766,000 after acquiring an additional 3,110 shares during the last quarter. Bessemer Group Inc. lifted its stake in Bluerock Residential Growth REIT by 56.2% in the second quarter. Bessemer Group Inc. now owns 57,800 shares of the financial services provider’s stock worth $679,000 after acquiring an additional 20,800 shares during the last quarter. Advisor Group Inc. lifted its stake in Bluerock Residential Growth REIT by 140.0% in the second quarter. Advisor Group Inc. now owns 6,000 shares of the financial services provider’s stock worth $71,000 after acquiring an additional 3,500 shares during the last quarter. BB&T Securities LLC lifted its stake in Bluerock Residential Growth REIT by 8.5% in the second quarter. BB&T Securities LLC now owns 21,800 shares of the financial services provider’s stock worth $256,000 after acquiring an additional 1,700 shares during the last quarter. Finally, Phocas Financial Corp. purchased a new position in Bluerock Residential Growth REIT in the second quarter worth approximately $259,000. Hedge funds and other institutional investors own 34.46% of the company’s stock.

About Bluerock Residential Growth REIT

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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