Wall Street brokerages predict that Bluerock Residential Growth REIT Inc (NYSE:BRG) will announce sales of $29.12 million for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Bluerock Residential Growth REIT’s earnings. The lowest sales estimate is $25.09 million and the highest is $33.15 million. Bluerock Residential Growth REIT reported sales of $19.62 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 48.4%. The company is scheduled to announce its next quarterly earnings report on Monday, November 6th.

According to Zacks, analysts expect that Bluerock Residential Growth REIT will report full-year sales of $29.12 million for the current fiscal year, with estimates ranging from $101.72 million to $123.14 million. For the next financial year, analysts expect that the company will post sales of $128.13 million per share, with estimates ranging from $109.63 million to $146.64 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that cover Bluerock Residential Growth REIT.

A number of analysts recently issued reports on BRG shares. Northland Securities reissued a “buy” rating and set a $14.85 target price on shares of Bluerock Residential Growth REIT in a research note on Tuesday, September 5th. Zacks Investment Research cut Bluerock Residential Growth REIT from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. TheStreet raised Bluerock Residential Growth REIT from a “d+” rating to a “c-” rating in a research note on Thursday, June 1st. FBR & Co reissued an “outperform” rating and set a $15.00 target price on shares of Bluerock Residential Growth REIT in a research note on Tuesday, July 11th. Finally, Compass Point cut Bluerock Residential Growth REIT from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $16.50 to $11.00 in a research note on Monday, August 7th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $13.96.

Shares of Bluerock Residential Growth REIT (BRG) opened at 10.26 on Friday. The company’s 50 day moving average is $11.23 and its 200 day moving average is $12.27. Bluerock Residential Growth REIT has a 12-month low of $9.68 and a 12-month high of $14.79. The firm has a market capitalization of $248.21 million and a PE ratio of 89.22.

The company also recently declared a monthly dividend, which will be paid on Thursday, October 5th. Shareholders of record on Monday, September 25th will be given a dividend of $0.0967 per share. The ex-dividend date is Friday, September 22nd. This represents a $1.16 dividend on an annualized basis and a yield of 11.31%. This is an increase from Bluerock Residential Growth REIT’s previous monthly dividend of $0.10.

Large investors have recently added to or reduced their stakes in the business. Numeric Investors LLC boosted its position in Bluerock Residential Growth REIT by 50.9% during the 2nd quarter. Numeric Investors LLC now owns 16,300 shares of the company’s stock worth $210,000 after acquiring an additional 5,500 shares during the last quarter. Alliancebernstein L.P. acquired a new position in Bluerock Residential Growth REIT during the 2nd quarter worth approximately $220,000. Virtu KCG Holdings LLC acquired a new position in Bluerock Residential Growth REIT during the 2nd quarter worth approximately $229,000. Mesirow Financial Investment Management Inc. acquired a new position in Bluerock Residential Growth REIT during the 2nd quarter worth approximately $264,000. Finally, The Manufacturers Life Insurance Company boosted its position in Bluerock Residential Growth REIT by 31.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,177 shares of the company’s stock worth $299,000 after acquiring an additional 5,593 shares during the last quarter.

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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.

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