Bluerock Residential Growth REIT, Inc. (NYSEAMERICAN:BRG) declared a quarterly dividend on Monday, September 13th, Wall Street Journal reports. Shareholders of record on Friday, September 24th will be paid a dividend of 0.1625 per share by the financial services provider on Tuesday, October 5th. This represents a $0.65 annualized dividend and a yield of 6.02%. The ex-dividend date of this dividend is Thursday, September 23rd.
Bluerock Residential Growth REIT has decreased its dividend payment by 44.0% over the last three years.
Shares of BRG opened at $10.80 on Wednesday. The stock has a market cap of $285.24 million, a price-to-earnings ratio of -10.29, a P/E/G ratio of 6.21 and a beta of 0.97. Bluerock Residential Growth REIT has a 12 month low of $6.83 and a 12 month high of $13.05. The company has a debt-to-equity ratio of 14.14, a quick ratio of 171.77 and a current ratio of 171.77.
Separately, Zacks Investment Research downgraded Bluerock Residential Growth REIT from a “hold” rating to a “sell” rating in a report on Monday, August 16th.
Several large investors have recently modified their holdings of BRG. Morgan Stanley raised its holdings in shares of Bluerock Residential Growth REIT by 161.8% in the 2nd 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. Bank of America Corp DE increased its holdings in Bluerock Residential Growth REIT by 24.0% in the 2nd quarter. Bank of America Corp DE now owns 48,605 shares of the financial services provider’s stock worth $494,000 after acquiring an additional 9,392 shares during the last quarter. Finally, Royal Bank of Canada raised its stake in Bluerock Residential Growth REIT by 28.7% in the 2nd quarter. Royal Bank of Canada now owns 13,717 shares of the financial services provider’s stock valued at $139,000 after acquiring an additional 3,062 shares during the period. 44.22% of the stock is currently owned by 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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