Bluerock Residential Growth REIT Inc (BRG) Sees Significant Growth in Short Interest

Bluerock Residential Growth REIT Inc (NYSE:BRG) saw a large growth in short interest during the month of September. As of September 30th, there was short interest totalling 603,948 shares, a growth of 7.7% from the September 15th total of 560,731 shares. Based on an average daily volume of 100,393 shares, the days-to-cover ratio is currently 6.0 days. Approximately 3.1% of the company’s shares are sold short.

Bluerock Residential Growth REIT (NYSE:BRG) opened at 12.41 on Friday. The firm’s market capitalization is $242.80 million. Bluerock Residential Growth REIT has a one year low of $9.06 and a one year high of $14.79. The stock has a 50 day moving average of $12.94 and a 200 day moving average of $12.41.

Bluerock Residential Growth REIT (NYSE:BRG) last announced its quarterly earnings results on Monday, August 8th. The company reported $0.21 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.10. The company earned $18.40 million during the quarter, compared to analysts’ expectations of $18.08 million. Analysts forecast that Bluerock Residential Growth REIT will post $0.37 earnings per share for the current year.

In other news, insider Christopher J. Vohs bought 2,500 shares of the firm’s stock in a transaction on Thursday, September 22nd. The shares were bought at an average cost of $13.26 per share, for a total transaction of $33,150.00. Following the acquisition, the insider now directly owns 500 shares of the company’s stock, valued at approximately $6,630. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Several equities analysts have weighed in on the stock. FBR & Co reiterated an “outperform” rating and issued a $15.00 target price (up from $14.00) on shares of Bluerock Residential Growth REIT in a report on Wednesday, August 10th. JMP Securities assumed coverage on shares of Bluerock Residential Growth REIT in a report on Thursday, July 21st. They issued an “outperform” rating and a $16.00 target price on the stock.

About Bluerock Residential Growth REIT

Bluerock Residential Growth REIT, Inc is a real estate investment trust. The Company’s business consists of investing in and operating multifamily communities. The Company operates through real estate assets segment. Its businesses are conducted through its operating partnership, Bluerock Residential Holdings, L.P.

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