Bluerock Residential Growth REIT Inc (BRG) Sees Significant Increase in Short Interest
Bluerock Residential Growth REIT Inc (NYSEAMERICAN:BRG) was the recipient of a large growth in short interest in October. As of October 31st, there was short interest totalling 1,163,063 shares, a growth of 58.6% from the October 13th total of 733,262 shares. Currently, 4.8% of the company’s stock are short sold. Based on an average trading volume of 287,311 shares, the days-to-cover ratio is presently 4.0 days.
Institutional investors have recently modified their holdings of the business. Janney Montgomery Scott LLC grew its position in Bluerock Residential Growth REIT by 27.0% during the 3rd quarter. Janney Montgomery Scott LLC now owns 51,198 shares of the financial services provider’s stock worth $566,000 after purchasing an additional 10,898 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its holdings in shares of Bluerock Residential Growth REIT by 63.0% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 16,652 shares of the financial services provider’s stock valued at $184,000 after acquiring an additional 6,438 shares in the last quarter. Kalos Management Inc. purchased a new stake in shares of Bluerock Residential Growth REIT in the third quarter valued at about $298,000. Finally, EJF Capital LLC boosted its holdings in shares of Bluerock Residential Growth REIT by 21.4% in the third quarter. EJF Capital LLC now owns 85,000 shares of the financial services provider’s stock valued at $940,000 after acquiring an additional 15,000 shares in the last quarter. 34.46% of the stock is currently owned by institutional investors.
Bluerock Residential Growth REIT (BRG) opened at $11.27 on Thursday. Bluerock Residential Growth REIT has a 52-week low of $9.68 and a 52-week high of $14.77. The company has a quick ratio of 304.45, a current ratio of 304.45 and a debt-to-equity ratio of 2.47.
The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, December 5th. Shareholders of record on Friday, November 24th will be given a dividend of $0.097 per share. This represents a $1.16 annualized dividend and a yield of 10.33%. The ex-dividend date is Wednesday, November 22nd. Bluerock Residential Growth REIT’s payout ratio is currently -362.50%.
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Bluerock Residential Growth REIT Company Profile
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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