Bluerock Residential Growth REIT Inc (BRG) Sees Large Growth in Short Interest

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

Shares of Bluerock Residential Growth REIT (BRG) traded down 0.38% during midday trading on Tuesday, reaching $10.45. 173,268 shares of the company’s stock traded hands. The stock has a 50 day moving average of $11.17 and a 200-day moving average of $12.26. The stock has a market cap of $252.81 million and a price-to-earnings ratio of 90.87. Bluerock Residential Growth REIT has a 52-week low of $9.68 and a 52-week high of $14.79.

The firm also recently declared a monthly dividend, which will be paid on Thursday, October 5th. Shareholders of record on Monday, September 25th will be issued a dividend of $0.0967 per share. This is an increase from Bluerock Residential Growth REIT’s previous monthly dividend of $0.10. The ex-dividend date of this dividend is Friday, September 22nd. This represents a $1.16 annualized dividend and a yield of 11.10%.

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in Bluerock Residential Growth REIT by 10.4% during the 2nd quarter. Vanguard Group Inc. now owns 951,715 shares of the company’s stock worth $12,267,000 after buying an additional 89,432 shares during the period. State Street Corp increased its position in Bluerock Residential Growth REIT by 13.4% during the 2nd quarter. State Street Corp now owns 439,509 shares of the company’s stock worth $5,664,000 after buying an additional 51,988 shares during the period. Dimensional Fund Advisors LP increased its position in Bluerock Residential Growth REIT by 15.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 299,886 shares of the company’s stock worth $3,866,000 after buying an additional 40,439 shares during the period. Northern Trust Corp increased its position in Bluerock Residential Growth REIT by 5.0% during the 2nd quarter. Northern Trust Corp now owns 269,608 shares of the company’s stock worth $3,475,000 after buying an additional 12,865 shares during the period. Finally, Kennedy Capital Management Inc. increased its position in Bluerock Residential Growth REIT by 2.2% during the 2nd quarter. Kennedy Capital Management Inc. now owns 245,170 shares of the company’s stock worth $3,160,000 after buying an additional 5,204 shares during the period.

Several brokerages have recently issued reports on BRG. Compass Point cut shares of Bluerock Residential Growth REIT from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $16.50 to $11.00 in a research note on Monday, August 7th. FBR & Co restated an “outperform” rating and set a $15.00 price target on shares of Bluerock Residential Growth REIT in a report on Tuesday, July 11th. Zacks Investment Research cut shares of Bluerock Residential Growth REIT from a “hold” rating to a “sell” rating in a report on Monday, July 10th. TheStreet upgraded shares of Bluerock Residential Growth REIT from a “d+” rating to a “c-” rating in a report on Thursday, June 1st. Finally, Northland Securities reiterated a “buy” rating and issued a $14.85 target price on shares of Bluerock Residential Growth REIT in a research note on Tuesday, September 5th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Bluerock Residential Growth REIT currently has an average rating of “Buy” and an average price target of $13.96.

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About Bluerock Residential Growth REIT

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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