Northland Securities set a $13.00 price objective on Bluerock Residential Growth REIT (NYSEAMERICAN:BRG) in a report published on Thursday. The firm currently has a buy rating on the financial services provider’s stock.
Several other research firms also recently commented on BRG. Janney Montgomery Scott downgraded shares of Bluerock Residential Growth REIT from a buy rating to a neutral rating in a research note on Tuesday, December 12th. Zacks Investment Research downgraded shares of Bluerock Residential Growth REIT from a hold rating to a sell rating in a research note on Tuesday, January 9th.
Bluerock Residential Growth REIT (NYSEAMERICAN:BRG) opened at $7.90 on Thursday. The company has a debt-to-equity ratio of 2.47, a current ratio of 304.45 and a quick ratio of 304.45. Bluerock Residential Growth REIT has a one year low of $7.02 and a one year high of $13.77. The company has a market cap of $191.97, a PE ratio of -4.27 and a beta of 0.44.
Bluerock Residential Growth REIT announced that its Board of Directors has initiated a share repurchase program on Wednesday, February 14th that permits the company to buyback $25.00 million in outstanding shares. This buyback authorization permits the financial services provider to purchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.
A number of institutional investors have recently made changes to their positions in BRG. Park West Asset Management LLC acquired a new stake in Bluerock Residential Growth REIT during the fourth quarter worth about $6,689,000. Renaissance Technologies LLC grew its stake in Bluerock Residential Growth REIT by 29.1% during the fourth quarter. Renaissance Technologies LLC now owns 1,391,896 shares of the financial services provider’s stock worth $14,072,000 after buying an additional 313,996 shares in the last quarter. Centaurus Financial Inc. acquired a new stake in Bluerock Residential Growth REIT during the fourth quarter worth about $1,875,000. Deutsche Bank AG grew its stake in Bluerock Residential Growth REIT by 95.0% during the fourth quarter. Deutsche Bank AG now owns 300,943 shares of the financial services provider’s stock worth $3,041,000 after buying an additional 146,587 shares in the last quarter. Finally, Millennium Management LLC grew its stake in Bluerock Residential Growth REIT by 71.3% during the fourth quarter. Millennium Management LLC now owns 127,227 shares of the financial services provider’s stock worth $1,286,000 after buying an additional 52,937 shares in the last quarter. 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 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.
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