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

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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 Friday. Zacks Investment Research currently has $11.00 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. “

Separately, Boenning Scattergood reaffirmed a buy rating and set a $11.00 price target on shares of Bluerock Residential Growth REIT in a report on Tuesday. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $11.50.

NYSEAMERICAN:BRG traded down $0.22 during midday trading on Friday, reaching $9.14. The company had a trading volume of 157,240 shares, compared to its average volume of 199,073. Bluerock Residential Growth REIT has a 12-month low of $7.02 and a 12-month high of $11.75.

Bluerock Residential Growth REIT (NYSEAMERICAN:BRG) last released its earnings results on Monday, November 5th. The financial services provider reported ($0.44) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.12 by ($0.56). The company had revenue of $47.88 million during the quarter, compared to analysts’ expectations of $46.14 million.

In other news, Chairman Ramin Kamfar bought 1,386 shares of Bluerock Residential Growth REIT stock in a transaction dated Wednesday, August 22nd. The stock was acquired at an average cost of $21.56 per share, with a total value of $29,882.16. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CIO James G. Babb III bought 3,000 shares of Bluerock Residential Growth REIT stock in a transaction dated Saturday, November 17th. The stock was purchased at an average cost of $11.31 per share, with a total value of $33,930.00. Following the completion of the acquisition, the executive now directly owns 1,000 shares in the company, valued at approximately $11,310. The disclosure for this purchase can be found here. Insiders have acquired a total of 6,386 shares of company stock valued at $85,992 over the last ninety days. 4.96% of the stock is owned by company insiders.

Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. lifted its holdings in shares of Bluerock Residential Growth REIT by 3.0% in the 3rd quarter. BlackRock Inc. now owns 1,669,645 shares of the financial services provider’s stock valued at $16,364,000 after purchasing an additional 48,221 shares during the last quarter. Highland Capital Management LP lifted its holdings in shares of Bluerock Residential Growth REIT by 26.6% in the 2nd quarter. Highland Capital Management LP now owns 1,000,000 shares of the financial services provider’s stock valued at $8,920,000 after purchasing an additional 209,962 shares during the last quarter. RMR Advisors LLC lifted its holdings in shares of Bluerock Residential Growth REIT by 15.8% in the 2nd quarter. RMR Advisors LLC now owns 406,415 shares of the financial services provider’s stock valued at $3,625,000 after purchasing an additional 55,531 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Bluerock Residential Growth REIT by 4.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 349,768 shares of the financial services provider’s stock valued at $2,973,000 after purchasing an additional 14,884 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Bluerock Residential Growth REIT by 8.2% in the 2nd quarter. Northern Trust Corp now owns 278,963 shares of the financial services provider’s stock valued at $2,489,000 after purchasing an additional 21,214 shares during the last quarter. 34.46% of the stock is owned by institutional investors and hedge funds.

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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