Bluerock Residential Growth REIT Target of Unusually High Options Trading (NYSEAMERICAN:BRG)

Bluerock Residential Growth REIT, Inc. (NYSEAMERICAN:BRG) saw some unusual options trading activity on Thursday. Investors purchased 2,078 call options on the stock. This is an increase of 1,917% compared to the typical volume of 103 call options.

A number of hedge funds have recently modified their holdings of the business. Alliancebernstein L.P. lifted its holdings in Bluerock Residential Growth REIT by 10.7% in the 2nd quarter. Alliancebernstein L.P. now owns 2,165,501 shares of the financial services provider’s stock worth $22,023,000 after buying an additional 208,610 shares in the last quarter. Invesco Ltd. lifted its holdings in Bluerock Residential Growth REIT by 60.1% in the 2nd quarter. Invesco Ltd. now owns 1,511,670 shares of the financial services provider’s stock worth $15,374,000 after buying an additional 567,705 shares in the last quarter. Kennedy Capital Management Inc. increased its position in shares of Bluerock Residential Growth REIT by 22.3% in the 2nd quarter. Kennedy Capital Management Inc. now owns 419,501 shares of the financial services provider’s stock worth $4,266,000 after purchasing an additional 76,527 shares during the last quarter. Millennium Management LLC bought a new stake in shares of Bluerock Residential Growth REIT in the 2nd quarter worth about $4,183,000. Finally, Geode Capital Management LLC increased its position in shares of Bluerock Residential Growth REIT by 3.8% in the 1st quarter. Geode Capital Management LLC now owns 395,070 shares of the financial services provider’s stock worth $3,994,000 after purchasing an additional 14,316 shares during the last quarter. Hedge funds and other institutional investors own 44.22% of the company’s stock.

Separately, Zacks Investment Research cut shares of Bluerock Residential Growth REIT from a “hold” rating to a “sell” rating in a research note on Monday, August 16th.

Shares of NYSEAMERICAN:BRG traded up $0.47 during midday trading on Thursday, hitting $11.32. 843,883 shares of the company’s stock traded hands, compared to its average volume of 351,040. The company has a current ratio of 171.77, a quick ratio of 171.77 and a debt-to-equity ratio of 14.14. The firm has a market capitalization of $298.97 million, a price-to-earnings ratio of -10.78, a PEG ratio of 6.21 and a beta of 0.97. Bluerock Residential Growth REIT has a twelve month low of $6.83 and a twelve month high of $13.05.

Bluerock Residential Growth REIT (NYSEAMERICAN:BRG) last posted its earnings results on Thursday, August 5th. The financial services provider reported ($0.21) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by ($0.27). Bluerock Residential Growth REIT had a net margin of 19.31% and a return on equity of 62.95%. On average, analysts predict that Bluerock Residential Growth REIT will post 0.29 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 5th. Shareholders of record on Friday, September 24th will be issued a $0.1625 dividend. The ex-dividend date is Thursday, September 23rd. This represents a $0.65 dividend on an annualized basis and a yield of 5.74%. Bluerock Residential Growth REIT’s dividend payout ratio is currently 90.28%.

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.

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