Bluerock Residential (BRG) Downgraded by Zacks Investment Research

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.

Get a free copy of the Zacks research report on Bluerock Residential (BRG)

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.



Leave a Reply