Bluerock Residential Growth REIT (BRG) Downgraded to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of Bluerock Residential Growth REIT (NYSEAMERICAN:BRG) from a hold rating to a sell rating in a research note published 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. “

Separately, Janney Montgomery Scott downgraded Bluerock Residential Growth REIT from a buy rating to a neutral rating in a research report on Tuesday, December 12th.

Shares of Bluerock Residential Growth REIT (NYSEAMERICAN BRG) traded down $0.10 during mid-day trading on Tuesday, hitting $9.31. The company had a trading volume of 397,030 shares, compared to its average volume of 304,241. The company has a quick ratio of 304.45, a current ratio of 304.45 and a debt-to-equity ratio of 2.47. Bluerock Residential Growth REIT has a one year low of $9.10 and a one year high of $13.94. The stock has a market capitalization of $225.37, a P/E ratio of -29.09 and a beta of 0.72.

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 5th. Shareholders of record on Friday, March 23rd will be given a dividend of $0.1625 per share. The ex-dividend date of this dividend is Thursday, March 22nd. This represents a $0.65 dividend on an annualized basis and a yield of 6.98%. Bluerock Residential Growth REIT’s payout ratio is -362.50%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC raised its position in Bluerock Residential Growth REIT by 27.0% during the third quarter. Janney Montgomery Scott LLC now owns 51,198 shares of the financial services provider’s stock valued at $566,000 after purchasing an additional 10,898 shares in the last quarter. Kalos Management Inc. purchased a new stake in Bluerock Residential Growth REIT during the third quarter valued at about $298,000. EJF Capital LLC raised its position in Bluerock Residential Growth REIT by 21.4% during the third quarter. EJF Capital LLC now owns 85,000 shares of the financial services provider’s stock valued at $940,000 after purchasing an additional 15,000 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. raised its position in Bluerock Residential Growth REIT by 63.0% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 16,652 shares of the financial services provider’s stock valued at $184,000 after purchasing an additional 6,438 shares in the last quarter. Institutional investors and hedge funds own 34.46% of the company’s stock.

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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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