Zacks Investment Research Upgrades Bluerock Residential Growth REIT Inc (BRG) to “Hold”

Bluerock Residential Growth REIT Inc (NYSE:BRG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.

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 equities analysts have also recently issued research reports about the company. FBR & Co restated an “outperform” rating and issued a $15.00 price target on shares of Bluerock Residential Growth REIT in a research report on Tuesday, July 11th. Northland Securities restated a “buy” rating and issued a $14.85 price target on shares of Bluerock Residential Growth REIT in a research report on Tuesday, September 5th. Finally, Compass Point cut Bluerock Residential Growth REIT from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $16.50 to $11.00 in a research report on Monday, August 7th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $13.81.

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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Rhumbline Advisers increased its position in Bluerock Residential Growth REIT by 1.5% during the 2nd quarter. Rhumbline Advisers now owns 30,375 shares of the company’s stock worth $392,000 after purchasing an additional 459 shares during the period. Bank of New York Mellon Corp increased its position in Bluerock Residential Growth REIT by 0.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 212,097 shares of the company’s stock worth $2,734,000 after purchasing an additional 1,500 shares during the period. Wells Fargo & Company MN increased its position in Bluerock Residential Growth REIT by 9.8% during the 2nd quarter. Wells Fargo & Company MN now owns 24,733 shares of the company’s stock worth $318,000 after purchasing an additional 2,215 shares during the period. D.A. Davidson & CO. increased its position in Bluerock Residential Growth REIT by 2.1% during the 2nd quarter. D.A. Davidson & CO. now owns 110,898 shares of the company’s stock worth $1,429,000 after purchasing an additional 2,248 shares during the period. Finally, Russell Investments Group Ltd. increased its position in Bluerock Residential Growth REIT by 2.9% during the 2nd quarter. Russell Investments Group Ltd. now owns 95,111 shares of the company’s stock worth $1,226,000 after purchasing an additional 2,671 shares during the period.

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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