Short Interest in Bluerock Residential Growth REIT Inc (BRG) Grows By 19.2%

Bluerock Residential Growth REIT Inc (NYSE:BRG) was the target of a large increase in short interest in August. As of August 31st, there was short interest totalling 660,814 shares, an increase of 19.2% from the August 15th total of 554,562 shares. Approximately 2.7% of the company’s stock are sold short. Based on an average daily trading volume, of 236,894 shares, the short-interest ratio is currently 2.8 days.

A number of institutional investors have recently added to or reduced their stakes in BRG. Numeric Investors LLC boosted its holdings in Bluerock Residential Growth REIT by 50.9% in the second quarter. Numeric Investors LLC now owns 16,300 shares of the company’s stock worth $210,000 after purchasing an additional 5,500 shares during the period. Alliancebernstein L.P. acquired a new position in Bluerock Residential Growth REIT in the second quarter worth $220,000. Virtu KCG Holdings LLC acquired a new position in Bluerock Residential Growth REIT in the second quarter worth $229,000. Mesirow Financial Investment Management Inc. acquired a new position in Bluerock Residential Growth REIT in the second quarter worth $264,000. Finally, The Manufacturers Life Insurance Company boosted its holdings in Bluerock Residential Growth REIT by 31.8% in the second quarter. The Manufacturers Life Insurance Company now owns 23,177 shares of the company’s stock worth $299,000 after purchasing an additional 5,593 shares during the period.

Shares of Bluerock Residential Growth REIT (NYSE BRG) opened at 10.39 on Friday. The company has a 50-day moving average of $10.81 and a 200 day moving average of $12.19. Bluerock Residential Growth REIT has a 52-week low of $9.68 and a 52-week high of $14.79. The stock has a market cap of $251.35 million and a P/E ratio of 90.35.

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, October 5th. Shareholders of record on Monday, September 25th will be issued a $0.0967 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 11.16%. The ex-dividend date of this dividend is Friday, September 22nd. This is an increase from Bluerock Residential Growth REIT’s previous monthly dividend of $0.10.

Several research analysts have recently issued reports on BRG shares. Northland Securities restated a “buy” rating and issued a $14.85 target price on shares of Bluerock Residential Growth REIT in a report on Tuesday, September 5th. Zacks Investment Research cut shares of Bluerock Residential Growth REIT from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. TheStreet upgraded shares of Bluerock Residential Growth REIT from a “d+” rating to a “c-” rating in a report on Thursday, June 1st. FBR & Co restated an “outperform” rating and issued a $15.00 target price on shares of Bluerock Residential Growth REIT in a report on Tuesday, July 11th. Finally, Compass Point cut shares of Bluerock Residential Growth REIT from a “buy” rating to a “neutral” rating and lowered their target price for the company from $16.50 to $11.00 in a report on Monday, August 7th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Bluerock Residential Growth REIT has a consensus rating of “Buy” and a consensus target price of $13.96.

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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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