Bluerock Residential Growth REIT (NYSEAMERICAN:BRG) Lowered to “Sell” at Zacks Investment Research

Zacks Investment Research lowered shares of Bluerock Residential Growth REIT (NYSEAMERICAN:BRG) from a hold rating to a sell rating in a research report report published on Wednesday morning, Zacks.com reports.

According to Zacks, “Bluerock Residential Growth REIT, Inc. operates as a real estate investment trust. It acquires apartment properties in demographically attractive growth markets throughout the United States. Bluerock Residential Growth REIT, Inc. is based in New York. “

BRG traded up $0.08 on Wednesday, hitting $12.17. The company had a trading volume of 3,948 shares, compared to its average volume of 141,930. The stock’s fifty day simple moving average is $12.12. Bluerock Residential Growth REIT has a 1-year low of $10.01 and a 1-year high of $12.65.

The company also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Tuesday, December 24th were paid a dividend of $0.1625 per share. This represents a $0.65 annualized dividend and a dividend yield of 5.34%. The ex-dividend date was Monday, December 23rd.

In related news, insider Fisher Steven bought 3,000 shares of the business’s stock in a transaction on Wednesday, October 23rd. The shares were purchased at an average price of $14.78 per share, with a total value of $44,349.00. Corporate insiders own 4.96% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. California Public Employees Retirement System grew its stake in Bluerock Residential Growth REIT by 4.5% in the third quarter. California Public Employees Retirement System now owns 86,599 shares of the financial services provider’s stock valued at $1,019,000 after purchasing an additional 3,709 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Bluerock Residential Growth REIT by 5.0% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 65,230 shares of the financial services provider’s stock worth $766,000 after acquiring an additional 3,110 shares during the period. California State Teachers Retirement System boosted its stake in shares of Bluerock Residential Growth REIT by 7.5% during the 3rd quarter. California State Teachers Retirement System now owns 35,160 shares of the financial services provider’s stock worth $414,000 after acquiring an additional 2,466 shares during the period. Millennium Management LLC boosted its stake in shares of Bluerock Residential Growth REIT by 179.6% during the 3rd quarter. Millennium Management LLC now owns 73,702 shares of the financial services provider’s stock worth $867,000 after acquiring an additional 47,342 shares during the period. Finally, State Street Corp boosted its stake in shares of Bluerock Residential Growth REIT by 8.2% during the 3rd quarter. State Street Corp now owns 578,095 shares of the financial services provider’s stock worth $6,898,000 after acquiring an additional 43,775 shares during the period. 34.46% of the stock is currently owned by hedge funds and other institutional investors.

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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