Bluerock Residential Growth REIT (NYSEAMERICAN:BRG) Updates FY 2021 Earnings Guidance

Bluerock Residential Growth REIT (NYSEAMERICAN:BRG) updated its FY 2021 earnings guidance on Thursday. The company provided earnings per share guidance of $0.650-$0.700 for the period. The company issued revenue guidance of -.

Separately, Zacks Investment Research upgraded Bluerock Residential Growth REIT from a sell rating to a hold rating in a research note on Tuesday, October 12th.

Shares of NYSEAMERICAN:BRG traded up $0.87 during trading on Thursday, hitting $16.61. 331,968 shares of the company were exchanged, compared to its average volume of 327,563. The company has a market cap of $436.36 million, a P/E ratio of 151.00, a P/E/G ratio of 8.55 and a beta of 0.83. Bluerock Residential Growth REIT has a 52-week low of $8.80 and a 52-week high of $16.62. The company has a debt-to-equity ratio of 14.70, a current ratio of 182.45 and a quick ratio of 182.45.

Bluerock Residential Growth REIT (NYSEAMERICAN:BRG) last posted its earnings results on Thursday, November 4th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.23. Bluerock Residential Growth REIT had a return on equity of 113.23% and a net margin of 36.35%. On average, analysts expect that Bluerock Residential Growth REIT will post 0.29 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 5th. Shareholders of record on Friday, September 24th were given a dividend of $0.1625 per share. The ex-dividend date was Thursday, September 23rd. This represents a $0.65 annualized dividend and a dividend yield of 3.91%. Bluerock Residential Growth REIT’s dividend payout ratio is currently 590.91%.

Institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada increased its holdings in shares of Bluerock Residential Growth REIT by 28.7% in the second quarter. Royal Bank of Canada now owns 13,717 shares of the financial services provider’s stock worth $139,000 after purchasing an additional 3,062 shares during the period. Bank of America Corp DE increased its holdings in shares of Bluerock Residential Growth REIT by 24.0% in the second quarter. Bank of America Corp DE now owns 48,605 shares of the financial services provider’s stock worth $494,000 after purchasing an additional 9,392 shares during the period. Finally, Morgan Stanley increased its holdings in shares of Bluerock Residential Growth REIT by 161.8% in the second quarter. Morgan Stanley now owns 80,084 shares of the financial services provider’s stock worth $815,000 after purchasing an additional 49,494 shares during the period. 44.09% of the stock is currently owned by hedge funds and other institutional investors.

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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