Bluerock Residential Growth REIT (NYSEAMERICAN:BRG) declared that its Board of Directors has initiated a share buyback program, which allows the company to buyback $25.00 million in shares on Wednesday, February 14th, EventVestor reports. This buyback authorization allows the financial services provider to buy shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its stock is undervalued.
BRG has been the subject of a number of analyst reports. Zacks Investment Research lowered Bluerock Residential Growth REIT from a “hold” rating to a “sell” rating in a research report on Tuesday, January 9th. Janney Montgomery Scott lowered Bluerock Residential Growth REIT from a “buy” rating to a “neutral” rating in a research report on Tuesday, December 12th. Finally, Northland Securities set a $13.00 price target on Bluerock Residential Growth REIT and gave the stock a “buy” rating in a research report on Thursday.
Shares of Bluerock Residential Growth REIT (NYSEAMERICAN BRG) opened at $7.90 on Friday. Bluerock Residential Growth REIT has a 12 month low of $7.02 and a 12 month high of $13.77. The company has a quick ratio of 304.45, a current ratio of 304.45 and a debt-to-equity ratio of 2.47. The company has a market capitalization of $191.97, a price-to-earnings ratio of -4.27 and a beta of 0.44.
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About Bluerock Residential Growth REIT
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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