Bluerock Residential Growth REIT (NYSEAMERICAN:BRG) Releases FY 2021 Earnings Guidance

Bluerock Residential Growth REIT (NYSEAMERICAN:BRG) issued an update on its FY 2021 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $0.650-$0.700 for the period. The company issued revenue guidance of -.

BRG stock traded up $0.87 during trading on Thursday, hitting $16.61. The company had a trading volume of 332,272 shares, compared to its average volume of 327,563. Bluerock Residential Growth REIT has a one year low of $8.80 and a one year high of $16.62. The stock has a market capitalization of $436.36 million, a PE ratio of 151.00, a PEG ratio of 8.55 and a beta of 0.83. The company has a debt-to-equity ratio of 14.70, a current ratio of 182.45 and a quick ratio of 182.45.

Bluerock Residential Growth REIT (NYSEAMERICAN:BRG) last posted its quarterly earnings results on Thursday, November 4th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.23. Bluerock Residential Growth REIT had a return on equity of 113.23% and a net margin of 36.35%. As a group, research analysts expect that Bluerock Residential Growth REIT will post 0.29 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 5th. Shareholders of record on Friday, September 24th were issued a dividend of $0.1625 per share. This represents a $0.65 dividend on an annualized basis and a dividend yield of 3.91%. The ex-dividend date was Thursday, September 23rd. Bluerock Residential Growth REIT’s payout ratio is 590.91%.

Separately, Zacks Investment Research upgraded Bluerock Residential Growth REIT from a sell rating to a hold rating in a report on Tuesday, October 12th.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Royal Bank of Canada lifted its holdings in shares of Bluerock Residential Growth REIT by 28.7% in the 2nd quarter. Royal Bank of Canada now owns 13,717 shares of the financial services provider’s stock worth $139,000 after purchasing an additional 3,062 shares in the last quarter. Bank of America Corp DE raised its position in Bluerock Residential Growth REIT by 24.0% in the 2nd quarter. Bank of America Corp DE now owns 48,605 shares of the financial services provider’s stock valued at $494,000 after buying an additional 9,392 shares during the last quarter. Finally, Morgan Stanley raised its position in Bluerock Residential Growth REIT by 161.8% in the 2nd quarter. Morgan Stanley now owns 80,084 shares of the financial services provider’s stock valued at $815,000 after buying an additional 49,494 shares during the last quarter. Institutional investors own 44.09% of the company’s stock.

About Bluerock Residential Growth REIT

Bluerock Residential Growth REIT, Inc operates as a real estate investment trust. It engages in acquiring apartment properties. Its investment objective is to maximize long term stockholder value by investing in properties that shows substantial growth. The company was founded by Jordan B. Ruddy on July 25, 2008 and is headquartered in New York, NY.

See Also: volatile stocks

Receive News & Ratings for Bluerock Residential Growth REIT Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bluerock Residential Growth REIT and related companies with MarketBeat.com's FREE daily email newsletter.