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

Bluerock Residential Growth REIT Inc (NYSEAMERICAN:BRG) was the target of a significant growth in short interest during the month of December. As of December 31st, there was short interest totalling 1,312,253 shares, a growth of 75.9% from the December 14th total of 746,116 shares. Currently, 5.6% of the shares of the stock are short sold. Based on an average daily volume of 485,495 shares, the days-to-cover ratio is presently 2.7 days.

Shares of NYSEAMERICAN:BRG opened at $10.20 on Friday. Bluerock Residential Growth REIT has a 12 month low of $7.02 and a 12 month high of $10.40.

Bluerock Residential Growth REIT (NYSEAMERICAN:BRG) last issued its quarterly earnings results on Monday, November 5th. The financial services provider reported ($0.44) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.56). The business had revenue of $47.88 million for the quarter, compared to analysts’ expectations of $46.14 million.

The firm also recently declared a quarterly dividend, which was paid on Friday, January 4th. Shareholders of record on Monday, December 24th were paid a $0.1625 dividend. The ex-dividend date of this dividend was Friday, December 21st. This represents a $0.65 annualized dividend and a yield of 6.37%.

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

A number of hedge funds have recently modified their holdings of BRG. BlackRock Inc. boosted its holdings in shares of Bluerock Residential Growth REIT by 3.0% during the 3rd quarter. BlackRock Inc. now owns 1,669,645 shares of the financial services provider’s stock worth $16,364,000 after buying an additional 48,221 shares during the period. Vanguard Group Inc boosted its holdings in shares of Bluerock Residential Growth REIT by 1.5% during the 3rd quarter. Vanguard Group Inc now owns 1,187,687 shares of the financial services provider’s stock worth $11,639,000 after buying an additional 17,536 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Bluerock Residential Growth REIT by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 1,187,687 shares of the financial services provider’s stock worth $11,639,000 after buying an additional 17,536 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Bluerock Residential Growth REIT by 2.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 354,725 shares of the financial services provider’s stock valued at $3,476,000 after purchasing an additional 8,660 shares during the period. Finally, Renaissance Technologies LLC boosted its holdings in Bluerock Residential Growth REIT by 45.3% in the 3rd quarter. Renaissance Technologies LLC now owns 292,200 shares of the financial services provider’s stock valued at $2,864,000 after purchasing an additional 91,100 shares during the period. Hedge funds and other institutional investors own 34.46% of the company’s stock.

A number of equities analysts have recently weighed in on the stock. Boenning Scattergood reissued a “buy” rating and set a $11.00 price target on shares of Bluerock Residential Growth REIT in a research report on Tuesday, November 6th. Zacks Investment Research raised shares of Bluerock Residential Growth REIT from a “hold” rating to a “strong-buy” rating and set a $11.00 price target on the stock in a research report on Friday, November 9th. Finally, B. Riley restated a “buy” rating on shares of Bluerock Residential Growth REIT in a report on Tuesday, November 6th. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Bluerock Residential Growth REIT presently has a consensus rating of “Buy” and an average target price of $11.50.

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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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