Bluerock Residential Growth REIT Inc (BRG) to Issue Quarterly Dividend of $0.16 on October 5th
Bluerock Residential Growth REIT Inc (NYSEAMERICAN:BRG) declared a quarterly dividend on Monday, September 14th, Wall Street Journal reports. Shareholders of record on Friday, September 25th will be paid a dividend of 0.1625 per share by the financial services provider on Monday, October 5th. This represents a $0.65 dividend on an annualized basis and a yield of 8.51%. The ex-dividend date of this dividend is Thursday, September 24th.
Bluerock Residential Growth REIT has decreased its dividend by 44.0% over the last three years and has increased its dividend every year for the last 1 years. Bluerock Residential Growth REIT has a payout ratio of -45.5% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.
BRG opened at $7.64 on Wednesday. Bluerock Residential Growth REIT has a 52-week low of $3.79 and a 52-week high of $12.49.
BRG has been the subject of several research reports. TheStreet upgraded shares of Bluerock Residential Growth REIT from a “d+” rating to a “c-” rating in a research note on Tuesday, September 1st. Zacks Investment Research raised shares of Bluerock Residential Growth REIT from a “sell” rating to a “hold” rating in a report on Monday, August 24th. Four investment analysts have rated the stock with a hold rating, The stock currently has an average rating of “Hold” and a consensus target price of $7.31.
About Bluerock Residential Growth REIT
Bluerock Residential Growth REIT, Inc (NYSE American: BRG) is a real estate investment trust that focuses on developing and acquiring a diversified portfolio of institutional-quality highly amenitized live/work/play apartment communities in demographically attractive knowledge economy growth markets to appeal to the renter by choice.
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