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

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Bluerock Residential Growth REIT Inc (NYSEAMERICAN:BRG) saw a large drop in short interest during the month of January. As of January 31st, there was short interest totalling 848,464 shares, a drop of 20.8% from the January 15th total of 1,071,430 shares. Based on an average daily volume of 138,810 shares, the short-interest ratio is currently 6.1 days. Currently, 3.6% of the shares of the company are short sold.

Shares of NYSEAMERICAN BRG opened at $10.58 on Thursday. Bluerock Residential Growth REIT has a 52 week low of $7.17 and a 52 week high of $10.74.

Several brokerages have recently weighed in on BRG. Zacks Investment Research downgraded shares of Bluerock Residential Growth REIT from a “buy” rating to a “hold” rating in a report on Tuesday. TheStreet raised shares of Bluerock Residential Growth REIT from a “d+” rating to a “c-” rating in a report on Thursday, January 24th. B. Riley reaffirmed a “buy” rating on shares of Bluerock Residential Growth REIT in a report on Tuesday, November 6th. Finally, Boenning Scattergood reaffirmed a “buy” rating and issued a $11.00 target price on shares of Bluerock Residential Growth REIT in a report on Tuesday, November 6th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $11.50.

In other Bluerock Residential Growth REIT news, CIO James G. Babb III acquired 3,000 shares of the stock in a transaction on Saturday, November 17th. The shares were bought at an average cost of $11.31 per share, with a total value of $33,930.00. Following the transaction, the executive now owns 1,000 shares of the company’s stock, valued at approximately $11,310. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 4.96% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC lifted its stake in shares of Bluerock Residential Growth REIT by 11.3% in the fourth quarter. Geode Capital Management LLC now owns 296,958 shares of the financial services provider’s stock valued at $2,678,000 after purchasing an additional 30,107 shares during the period. EJF Capital LLC lifted its stake in shares of Bluerock Residential Growth REIT by 42.9% in the fourth quarter. EJF Capital LLC now owns 50,000 shares of the financial services provider’s stock valued at $451,000 after purchasing an additional 15,000 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Bluerock Residential Growth REIT by 2.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 364,439 shares of the financial services provider’s stock valued at $3,287,000 after purchasing an additional 9,714 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Bluerock Residential Growth REIT by 24.4% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 14,800 shares of the financial services provider’s stock valued at $133,000 after purchasing an additional 2,900 shares during the period. Finally, Bessemer Group Inc. acquired a new stake in shares of Bluerock Residential Growth REIT in the fourth quarter valued at about $32,000. Hedge funds and other institutional investors own 34.46% of the company’s stock.

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Bluerock Residential Growth REIT 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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