White Pine Capital LLC lowered its stake in shares of Bluerock Residential Growth REIT Inc (NYSE:BRG) by 1.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 34,575 shares of the company’s stock after selling 575 shares during the quarter. White Pine Capital LLC owned approximately 0.14% of Bluerock Residential Growth REIT worth $446,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the business. Rhumbline Advisers raised its holdings in Bluerock Residential Growth REIT by 1.5% during the second quarter. Rhumbline Advisers now owns 30,375 shares of the company’s stock worth $392,000 after purchasing an additional 459 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Bluerock Residential Growth REIT by 0.7% during the second quarter. Bank of New York Mellon Corp now owns 212,097 shares of the company’s stock worth $2,734,000 after purchasing an additional 1,500 shares in the last quarter. Wells Fargo & Company MN raised its holdings in Bluerock Residential Growth REIT by 9.8% during the second quarter. Wells Fargo & Company MN now owns 24,733 shares of the company’s stock worth $318,000 after purchasing an additional 2,215 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in Bluerock Residential Growth REIT by 2.9% during the second quarter. Russell Investments Group Ltd. now owns 95,111 shares of the company’s stock worth $1,226,000 after purchasing an additional 2,671 shares in the last quarter. Finally, Victory Capital Management Inc. raised its holdings in Bluerock Residential Growth REIT by 4.8% during the second quarter. Victory Capital Management Inc. now owns 80,428 shares of the company’s stock worth $1,037,000 after purchasing an additional 3,670 shares in the last quarter.

Shares of Bluerock Residential Growth REIT Inc (BRG) traded up 1.75% during trading on Monday, hitting $10.44. 15,198 shares of the stock were exchanged. The company has a market cap of $252.56 million and a price-to-earnings ratio of 90.78. Bluerock Residential Growth REIT Inc has a 12-month low of $9.68 and a 12-month high of $14.77. The firm has a 50 day moving average of $11.23 and a 200-day moving average of $12.27.

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

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

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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.

Institutional Ownership by Quarter for Bluerock Residential Growth REIT (NYSE:BRG)

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