Alliancebernstein L.P. Buys New Holdings in Bluerock Residential Growth REIT Inc (BRG)

Alliancebernstein L.P. bought a new position in Bluerock Residential Growth REIT Inc (NYSE:BRG) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 17,100 shares of the company’s stock, valued at approximately $220,000. Alliancebernstein L.P. owned approximately 0.07% of Bluerock Residential Growth REIT at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. Kennedy Capital Management Inc. boosted its holdings in Bluerock Residential Growth REIT by 2.2% in the second quarter. Kennedy Capital Management Inc. now owns 245,170 shares of the company’s stock worth $3,160,000 after acquiring an additional 5,204 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Bluerock Residential Growth REIT by 0.7% during the second quarter. Bank of New York Mellon Corp now owns 212,097 shares of the company’s stock valued at $2,734,000 after purchasing an additional 1,500 shares in the last quarter. Harbour Capital Advisors LLC lifted its holdings in shares of Bluerock Residential Growth REIT by 1,189.0% during the second quarter. Harbour Capital Advisors LLC now owns 122,455 shares of the company’s stock valued at $9,500,000 after purchasing an additional 112,955 shares in the last quarter. BB&T Securities LLC lifted its holdings in shares of Bluerock Residential Growth REIT by 30.4% during the second quarter. BB&T Securities LLC now owns 97,701 shares of the company’s stock valued at $1,259,000 after purchasing an additional 22,801 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Bluerock Residential Growth REIT by 2.9% during the second quarter. Russell Investments Group Ltd. now owns 95,111 shares of the company’s stock valued at $1,226,000 after purchasing an additional 2,671 shares in the last quarter.

Shares of Bluerock Residential Growth REIT Inc (NYSE:BRG) opened at $11.65 on Monday. Bluerock Residential Growth REIT Inc has a 1 year low of $9.68 and a 1 year high of $14.77.

The business also recently declared a monthly dividend, which will be paid on Friday, January 5th. Shareholders of record on Friday, December 22nd will be given a $0.0967 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 9.96%. The ex-dividend date is Thursday, December 21st.

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BRG has been the topic of a number of research analyst reports. Northland Securities reaffirmed a “buy” rating and set a $14.25 price target on shares of Bluerock Residential Growth REIT in a report on Tuesday, October 24th. B. Riley reissued a “buy” rating and issued a $14.00 target price on shares of Bluerock Residential Growth REIT in a report on Wednesday, November 8th. TheStreet downgraded Bluerock Residential Growth REIT from a “c” rating to a “d+” rating in a report on Tuesday, November 7th. Zacks Investment Research raised Bluerock Residential Growth REIT from a “sell” rating to a “hold” rating in a report on Tuesday, October 31st. Finally, Compass Point downgraded Bluerock Residential Growth REIT from a “buy” rating to a “neutral” rating and lowered their target price for the company from $16.50 to $11.00 in a report on Monday, August 7th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Bluerock Residential Growth REIT presently has an average rating of “Buy” and an average price target of $13.85.

About Bluerock Residential Growth REIT

Bluerock Residential Growth REIT, Inc is a real estate investment trust. The Company is focused on acquiring a portfolio of residential real estate assets. As of December 31, 2016, the Company’s portfolio consisted of interests in 31 properties (21 operating and 10 development properties). As of December 31, 2016, its properties contained an aggregate of 9,570 units, consisting of 6,972 operating units and 2,598 units under development.

Institutional Ownership by Quarter for Bluerock Residential Growth REIT (NYSE:BRG)

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