Bluerock Residential Growth REIT (NYSEAMERICAN:BRG) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report issued on Friday. The firm currently has a $11.00 price objective on the financial services provider’s stock. Zacks Investment Research‘s target price points to a potential upside of 20.35% from the stock’s current price.
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. “
Separately, Boenning Scattergood restated a “buy” rating and issued a $11.00 target price on shares of Bluerock Residential Growth REIT in a research note on Tuesday, November 6th. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $11.50.
NYSEAMERICAN:BRG opened at $9.14 on Friday. Bluerock Residential Growth REIT has a one year low of $7.02 and a one year high of $11.75.
Bluerock Residential Growth REIT (NYSEAMERICAN:BRG) last posted its quarterly earnings results on Monday, November 5th. The financial services provider reported ($0.44) EPS for the quarter, missing the Zacks’ consensus estimate of $0.12 by ($0.56). The company had revenue of $47.88 million during the quarter, compared to analyst estimates of $46.14 million.
In other Bluerock Residential Growth REIT news, CIO James G. Babb III purchased 3,000 shares of the business’s stock in a transaction dated Saturday, November 17th. The shares were bought at an average price of $11.31 per share, with a total value of $33,930.00. Following the completion of the acquisition, the executive now owns 1,000 shares in the company, valued at approximately $11,310. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Ramin Kamfar purchased 1,386 shares of the business’s stock in a transaction dated Wednesday, August 22nd. The shares were acquired at an average cost of $21.56 per share, for a total transaction of $29,882.16. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 6,386 shares of company stock valued at $85,992. 4.96% of the stock is currently owned by insiders.
A number of large investors have recently made changes to their positions in the stock. Teachers Insurance & Annuity Association of America raised its holdings in Bluerock Residential Growth REIT by 24.8% during the second quarter. Teachers Insurance & Annuity Association of America now owns 30,596 shares of the financial services provider’s stock worth $273,000 after purchasing an additional 6,087 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. raised its holdings in Bluerock Residential Growth REIT by 117.1% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 15,415 shares of the financial services provider’s stock worth $131,000 after purchasing an additional 8,314 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Bluerock Residential Growth REIT by 4.4% during the first quarter. Dimensional Fund Advisors LP now owns 349,768 shares of the financial services provider’s stock worth $2,973,000 after purchasing an additional 14,884 shares in the last quarter. BRYN MAWR TRUST Co bought a new stake in Bluerock Residential Growth REIT during the second quarter worth approximately $148,000. Finally, Northern Trust Corp raised its holdings in Bluerock Residential Growth REIT by 8.2% during the second quarter. Northern Trust Corp now owns 278,963 shares of the financial services provider’s stock worth $2,489,000 after purchasing an additional 21,214 shares in the last quarter. 34.46% of the stock is currently owned by hedge funds and other institutional investors.
About Bluerock Residential Growth REIT
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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