Bluerock Residential Growth REIT Inc (NYSEAMERICAN:BRG) was the recipient of a large increase in short interest in the month of October. As of October 31st, there was short interest totalling 1,305,097 shares, an increase of 0.0% from the October 15th total of 1,304,495 shares. Approximately 5.5% of the company’s shares are sold short. Based on an average daily volume of 110,267 shares, the short-interest ratio is presently 11.8 days.
In other Bluerock Residential Growth REIT news, CIO James G. Babb III purchased 3,000 shares of the stock in a transaction that occurred on Saturday, November 17th. The stock was bought at an average cost of $11.31 per share, with a total value of $33,930.00. Following the transaction, the executive now directly owns 1,000 shares in the company, valued at approximately $11,310. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Ramin Kamfar purchased 1,386 shares of the stock in a transaction that occurred on Wednesday, August 22nd. The shares were acquired at an average cost of $21.56 per share, with a total value of $29,882.16. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 6,386 shares of company stock valued at $85,992. 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. Teachers Insurance & Annuity Association of America increased its stake in Bluerock Residential Growth REIT by 24.8% during the 2nd quarter. Teachers Insurance & Annuity Association of America now owns 30,596 shares of the financial services provider’s stock valued at $273,000 after purchasing an additional 6,087 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. increased its stake in Bluerock Residential Growth REIT by 117.1% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 15,415 shares of the financial services provider’s stock valued at $131,000 after purchasing an additional 8,314 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Bluerock Residential Growth REIT by 4.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 349,768 shares of the financial services provider’s stock valued at $2,973,000 after purchasing an additional 14,884 shares in the last quarter. BRYN MAWR TRUST Co bought a new stake in Bluerock Residential Growth REIT during the 2nd quarter valued at about $148,000. Finally, Northern Trust Corp increased its stake in Bluerock Residential Growth REIT by 8.2% during the 2nd quarter. Northern Trust Corp now owns 278,963 shares of the financial services provider’s stock valued at $2,489,000 after purchasing an additional 21,214 shares in the last quarter. Institutional investors and hedge funds own 34.46% of the company’s stock.
Bluerock Residential Growth REIT (NYSEAMERICAN:BRG) last issued its quarterly earnings results on Monday, November 5th. The financial services provider reported ($0.44) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.56). The company had revenue of $47.88 million for the quarter, compared to the consensus estimate of $46.14 million.
A number of brokerages recently issued reports on BRG. Boenning Scattergood set a $11.00 price target on shares of Bluerock Residential Growth REIT and gave the company a “buy” rating in a research report on Wednesday, August 8th. Zacks Investment Research raised shares of Bluerock Residential Growth REIT from a “hold” rating to a “strong-buy” rating and set a $11.00 price target for the company in a research report on Friday. One analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $11.50.
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About Bluerock Residential Growth REIT
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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