Zacks Investment Research downgraded shares of Bluerock Residential (NYSEAMERICAN:BRG) from a buy rating to a hold rating in a research report report 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. “
A number of other equities research analysts also recently weighed in on the stock. Northland Securities set a $13.00 price target on shares of Bluerock Residential and gave the company a buy rating in a report on Thursday, February 15th. B. Riley set a $11.50 price target on shares of Bluerock Residential and gave the company a buy rating in a report on Thursday, February 22nd. Finally, National Securities raised shares of Bluerock Residential from a neutral rating to a buy rating in a report on Tuesday, February 20th. Two equities research 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 a consensus target price of $11.50.
Shares of Bluerock Residential opened at $8.84 on Tuesday, according to Marketbeat.com. Bluerock Residential has a twelve month low of $7.02 and a twelve month high of $13.77. 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 (NYSEAMERICAN:BRG) last issued its quarterly earnings results on Tuesday, May 8th. The financial services provider reported ($0.40) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.34) by ($0.06). Bluerock Residential had a negative net margin of 129.33% and a negative return on equity of 98.46%. The business had revenue of $41.87 million during the quarter, compared to analyst estimates of $39.94 million.
Bluerock Residential announced that its board has approved a share repurchase plan on Wednesday, February 14th that permits the company to buyback $25.00 million in shares. This buyback authorization permits the financial services provider to purchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.
Hedge funds have recently bought and sold shares of the business. Virtu Financial LLC purchased a new stake in Bluerock Residential during the fourth quarter valued at about $104,000. Ladenburg Thalmann Financial Services Inc. lifted its stake in Bluerock Residential by 117.1% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 15,415 shares of the financial services provider’s stock valued at $131,000 after buying an additional 8,314 shares in the last quarter. Capital Investment Advisory Services LLC purchased a new stake in Bluerock Residential during the fourth quarter valued at about $164,000. Stockman Wealth Management Inc. purchased a new stake in Bluerock Residential during the fourth quarter valued at about $208,000. Finally, Claraphi Advisory Network LLC purchased a new stake in Bluerock Residential during the fourth quarter valued at about $273,000. 34.46% of the stock is owned by institutional investors.
About Bluerock Residential
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Bluerock Residential Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bluerock Residential and related companies with MarketBeat.com's FREE daily email newsletter.