Centaurus Financial Inc. boosted its position in Bluerock Residential (NYSEAMERICAN:BRG) by 379.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 888,837 shares of the financial services provider’s stock after buying an additional 703,337 shares during the quarter. Bluerock Residential makes up approximately 1.8% of Centaurus Financial Inc.’s portfolio, making the stock its 4th biggest position. Centaurus Financial Inc. owned about 3.66% of Bluerock Residential worth $7,555,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the business. Virtu Financial LLC bought a new position in Bluerock Residential in the fourth quarter worth $104,000. Capital Investment Advisory Services LLC purchased a new stake in shares of Bluerock Residential during the fourth quarter valued at $164,000. Stockman Wealth Management Inc. purchased a new stake in shares of Bluerock Residential during the fourth quarter valued at $208,000. Claraphi Advisory Network LLC purchased a new stake in shares of Bluerock Residential during the fourth quarter valued at $273,000. Finally, Family Management Corp purchased a new stake in shares of Bluerock Residential during the fourth quarter valued at $314,000. Hedge funds and other institutional investors own 34.46% of the company’s stock.
Several research analysts have issued reports on the company. Northland Securities set a $13.00 target price on Bluerock Residential and gave the stock a “buy” rating in a research report on Thursday, February 15th. Zacks Investment Research raised Bluerock Residential from a “sell” rating to a “hold” rating in a research report on Monday, February 19th. National Securities raised Bluerock Residential from a “neutral” rating to a “buy” rating in a research note on Tuesday, February 20th. Finally, B. Riley set a $11.50 target price on Bluerock Residential and gave the company a “buy” rating in a research note on Thursday, February 22nd. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Bluerock Residential presently has an average rating of “Buy” and an average price target of $11.50.
Shares of Bluerock Residential stock opened at $8.78 on Friday. 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 has a one year low of $8.74 and a one year high of $8.84.
Bluerock Residential (NYSEAMERICAN:BRG) last posted its quarterly earnings data on Tuesday, May 8th. The financial services provider reported ($0.40) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.34) by ($0.06). The business had revenue of $41.87 million for the quarter, compared to analysts’ expectations of $39.94 million. Bluerock Residential had a negative net margin of 129.33% and a negative return on equity of 98.46%.
Bluerock Residential declared that its board has approved a stock buyback program on Wednesday, February 14th that authorizes the company to repurchase $25.00 million in shares. This repurchase authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.
Bluerock Residential 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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