Bluerock Residential Growth REIT Inc (BRG) Receives Consensus Rating of “Strong Buy” from Analysts

Bluerock Residential Growth REIT Inc (NYSE:BRG) has been assigned a consensus broker rating score of 1.40 (Strong Buy) from the five analysts that provide coverage for the company, Zacks Investment Research reports. One research analyst has rated the stock with a hold recommendation and four have given a strong buy recommendation to the company. Bluerock Residential Growth REIT’s rating score has improved by 6.7% from 90 days ago as a result of various analysts’ ratings changes.

Analysts have set a one year consensus price objective of $13.31 for the company, according to Zacks. Zacks has also assigned Bluerock Residential Growth REIT an industry rank of 192 out of 265 based on the ratings given to its competitors.

Several brokerages have recently commented on BRG. Zacks Investment Research raised Bluerock Residential Growth REIT from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research note on Thursday, July 13th. FBR & Co reiterated an “outperform” rating and issued a $15.00 price objective on shares of Bluerock Residential Growth REIT in a report on Tuesday, July 11th. Northland Securities reiterated a “buy” rating and issued a $14.25 price objective on shares of Bluerock Residential Growth REIT in a report on Tuesday, October 24th. Finally, Compass Point downgraded Bluerock Residential Growth REIT from a “buy” rating to a “neutral” rating and cut their price objective for the company from $16.50 to $11.00 in a report on Monday, August 7th.

Hedge funds have recently bought and sold shares of the stock. TIAA CREF Investment Management LLC raised its holdings in shares of Bluerock Residential Growth REIT by 75.9% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 135,862 shares of the company’s stock valued at $1,751,000 after buying an additional 58,606 shares during the period. Harbour Capital Advisors LLC raised its holdings in shares of Bluerock Residential Growth REIT by 1,189.0% in the 2nd quarter. Harbour Capital Advisors LLC now owns 122,455 shares of the company’s stock valued at $9,500,000 after buying an additional 112,955 shares during the period. BB&T Securities LLC raised its holdings in shares of Bluerock Residential Growth REIT by 30.4% in the 2nd quarter. BB&T Securities LLC now owns 97,701 shares of the company’s stock valued at $1,259,000 after buying an additional 22,801 shares during the period. Mesirow Financial Investment Management Inc. purchased a new stake in shares of Bluerock Residential Growth REIT in the 2nd quarter valued at $264,000. Finally, State of New Jersey Common Pension Fund D raised its holdings in shares of Bluerock Residential Growth REIT by 35.5% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 210,000 shares of the company’s stock valued at $2,323,000 after buying an additional 55,000 shares during the period.

Shares of Bluerock Residential Growth REIT (BRG) traded down $0.36 during trading on Friday, hitting $10.97. The stock had a trading volume of 379,773 shares, compared to its average volume of 265,252. Bluerock Residential Growth REIT has a twelve month low of $9.68 and a twelve month high of $14.77.

The company also recently disclosed a monthly dividend, which will be paid on Friday, January 5th. Investors of record on Friday, December 22nd will be issued a $0.0967 dividend. The ex-dividend date of this dividend is Thursday, December 21st. This represents a $1.16 annualized dividend and a dividend yield of 10.57%.

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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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