Zacks Investment Research downgraded shares of Bluerock Residential (NYSEAMERICAN:BRG) from a buy rating to a hold rating in a research note released 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 research analysts also recently weighed in on the stock. Northland Securities set a $13.00 price objective on shares of Bluerock Residential and gave the stock a buy rating in a research report on Thursday, February 15th. B. Riley set a $11.50 price objective on shares of Bluerock Residential and gave the stock a buy rating in a research report on Thursday, February 22nd. Finally, National Securities upgraded shares of Bluerock Residential from a neutral rating to a buy rating in a research 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 stock. Bluerock Residential presently has an average rating of Buy and a consensus price target of $11.50.
NYSEAMERICAN:BRG opened at $8.78 on Tuesday. Bluerock Residential has a one year low of $8.74 and a one year high of $8.84. The company has a debt-to-equity ratio of 2.47, a quick ratio of 304.45 and a current ratio of 304.45.
Bluerock Residential (NYSEAMERICAN:BRG) last posted its quarterly earnings results on Tuesday, May 8th. The financial services provider reported ($0.40) EPS for the quarter, missing the 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 analysts’ expectations of $39.94 million.
Bluerock Residential declared that its Board of Directors has authorized a share repurchase program on Wednesday, February 14th that permits the company to repurchase $25.00 million in shares. This repurchase authorization permits the financial services provider to buy shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.
Institutional investors have recently modified their holdings of the business. Virtu Financial LLC acquired a new position in shares of Bluerock Residential in the fourth quarter worth about $104,000. Ladenburg Thalmann Financial Services Inc. raised its position in shares of Bluerock Residential by 117.1% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 15,415 shares of the financial services provider’s stock worth $131,000 after acquiring an additional 8,314 shares during the period. Capital Investment Advisory Services LLC acquired a new position in shares of Bluerock Residential in the fourth quarter worth about $164,000. Stockman Wealth Management Inc. acquired a new position in shares of Bluerock Residential in the fourth quarter worth about $208,000. Finally, Claraphi Advisory Network LLC acquired a new position in shares of Bluerock Residential in the fourth quarter worth about $273,000. Institutional investors and hedge funds own 34.46% of the company’s stock.
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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