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

Zacks Investment Research upgraded shares of Bluerock Residential Growth REIT (NYSEAMERICAN:BRG) from a hold rating to a strong-buy rating in a report released on Wednesday, Zacks.com reports. The firm currently has $14.00 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 restated a buy rating and issued a $12.00 price objective on shares of Bluerock Residential Growth REIT in a report on Wednesday, May 8th.

NYSEAMERICAN:BRG opened at $11.70 on Wednesday. Bluerock Residential Growth REIT has a 52 week low of $8.19 and a 52 week high of $12.28.

Bluerock Residential Growth REIT (NYSEAMERICAN:BRG) last released its quarterly earnings data on Tuesday, May 7th. The financial services provider reported ($0.53) EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.65). The company had revenue of $51.47 million during the quarter, compared to analysts’ expectations of $51.15 million.

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 5th. Investors of record on Tuesday, June 25th were issued a $0.1625 dividend. The ex-dividend date of this dividend was Monday, June 24th. This represents a $0.65 dividend on an annualized basis and a yield of 5.56%.

Institutional investors have recently made changes to their positions in the business. Bessemer Group Inc. bought a new stake in Bluerock Residential Growth REIT during the fourth quarter worth approximately $32,000. BNP Paribas Arbitrage SA boosted its position in Bluerock Residential Growth REIT by 523.3% during the first quarter. BNP Paribas Arbitrage SA now owns 4,993 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 4,192 shares during the period. Metropolitan Life Insurance Co. NY boosted its position in Bluerock Residential Growth REIT by 668.1% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 9,970 shares of the financial services provider’s stock worth $90,000 after purchasing an additional 8,672 shares during the period. D. E. Shaw & Co. Inc. bought a new stake in Bluerock Residential Growth REIT during the fourth quarter worth approximately $103,000. Finally, MetLife Investment Advisors LLC bought a new stake in Bluerock Residential Growth REIT during the fourth quarter worth approximately $107,000. 34.46% of the stock is owned by hedge funds and other institutional investors.

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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