Bluerock Residential Growth REIT (BRG) to Repurchase $25.00 million in Outstanding Stock

Bluerock Residential Growth REIT (NYSEAMERICAN:BRG) announced that its board has approved a share buyback plan, which permits the company to repurchase $25.00 million in shares on Wednesday, February 14th, EventVestor reports. This repurchase authorization permits the financial services provider to buy shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Bluerock Residential Growth REIT (NYSEAMERICAN BRG) traded up $0.21 on Thursday, hitting $7.68. 234,453 shares of the company were exchanged, compared to its average volume of 418,086. The company has a debt-to-equity ratio of 2.47, a quick ratio of 304.45 and a current ratio of 304.45. Bluerock Residential Growth REIT has a 1-year low of $7.02 and a 1-year high of $13.94. The company has a market cap of $178.89, a PE ratio of -23.34 and a beta of 0.44.

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 5th. Shareholders of record on Friday, March 23rd will be issued a dividend of $0.1625 per share. This represents a $0.65 dividend on an annualized basis and a yield of 8.46%. The ex-dividend date is Thursday, March 22nd. Bluerock Residential Growth REIT’s dividend payout ratio (DPR) is presently -362.50%.

BRG has been the subject of a number of recent analyst reports. Zacks Investment Research cut shares of Bluerock Residential Growth REIT from a “hold” rating to a “sell” rating in a research report on Tuesday, January 9th. Janney Montgomery Scott cut shares of Bluerock Residential Growth REIT from a “buy” rating to a “neutral” rating in a research report on Tuesday, December 12th.

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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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