Bluerock Residential Growth REIT (NYSEAMERICAN:BRG) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Bluerock Residential Growth REIT (NYSEAMERICAN:BRG) from a hold rating to a sell rating in a report issued on Tuesday, Zacks.com reports.

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. “

Several other equities research analysts have also weighed in on the company. JMP Securities lowered Bluerock Residential Growth REIT from an outperform rating to a market perform rating in a report on Tuesday, December 21st. Compass Point boosted their target price on Bluerock Residential Growth REIT from $14.50 to $27.00 and gave the stock a neutral rating in a report on Wednesday, December 29th. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $14.63.

Shares of NYSEAMERICAN BRG opened at $26.53 on Tuesday. Bluerock Residential Growth REIT has a 52 week low of $8.80 and a 52 week high of $27.48. The company has a debt-to-equity ratio of 14.70, a current ratio of 182.45 and a quick ratio of 182.45. The company has a market capitalization of $727.35 million, a P/E ratio of 241.36, a PEG ratio of 16.36 and a beta of 1.00.

Bluerock Residential Growth REIT (NYSEAMERICAN:BRG) last posted its earnings results on Thursday, November 4th. The financial services provider reported $0.45 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.23. Bluerock Residential Growth REIT had a return on equity of 113.23% and a net margin of 36.35%. As a group, equities analysts forecast that Bluerock Residential Growth REIT will post 0.28 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 5th. Stockholders of record on Thursday, December 23rd were issued a dividend of $0.1625 per share. The ex-dividend date of this dividend was Wednesday, December 22nd. This represents a $0.65 dividend on an annualized basis and a dividend yield of 2.45%. Bluerock Residential Growth REIT’s dividend payout ratio (DPR) is presently 590.91%.

Hedge funds have recently modified their holdings of the company. Spire Wealth Management raised its stake in shares of Bluerock Residential Growth REIT by 48.5% in the fourth quarter. Spire Wealth Management now owns 13,038 shares of the financial services provider’s stock valued at $344,000 after purchasing an additional 4,259 shares in the last quarter. FNY Investment Advisers LLC acquired a new position in shares of Bluerock Residential Growth REIT in the fourth quarter valued at $500,000. Balyasny Asset Management LLC acquired a new position in shares of Bluerock Residential Growth REIT in the third quarter valued at $231,000. Phocas Financial Corp. raised its stake in shares of Bluerock Residential Growth REIT by 1.0% in the third quarter. Phocas Financial Corp. now owns 69,079 shares of the financial services provider’s stock valued at $880,000 after purchasing an additional 716 shares in the last quarter. Finally, Navis Wealth Advisors LLC acquired a new position in shares of Bluerock Residential Growth REIT in the third quarter valued at $359,000. Institutional investors own 42.28% of the company’s stock.

About Bluerock Residential Growth REIT

Bluerock Residential Growth REIT, Inc operates as a real estate investment trust. It engages in acquiring apartment properties. Its investment objective is to maximize long term stockholder value by investing in properties that shows substantial growth. The company was founded by Jordan B. Ruddy on July 25, 2008 and is headquartered in New York, NY.

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