Bluerock Residential Growth REIT Inc (NYSE:BRG) announced a monthly dividend on Monday, August 14th, Wall Street Journal reports. Shareholders of record on Friday, August 25th will be paid a dividend of 0.0967 per share on Tuesday, September 5th. This represents a $1.16 annualized dividend and a dividend yield of 10.71%. The ex-dividend date of this dividend is Wednesday, August 23rd. This is an increase from Bluerock Residential Growth REIT’s previous monthly dividend of $0.10.

Bluerock Residential Growth REIT has a dividend payout ratio of 2,320.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Bluerock Residential Growth REIT to earn ($0.63) per share next year, which means the company may not be able to cover its $1.16 annual dividend with an expected future payout ratio of -184.1%.

Shares of Bluerock Residential Growth REIT (NYSE:BRG) traded up 3.04% during mid-day trading on Monday, hitting $10.83. The company’s stock had a trading volume of 260,226 shares. Bluerock Residential Growth REIT has a 52-week low of $9.93 and a 52-week high of $14.77. The stock’s 50 day moving average price is $12.79 and its 200 day moving average price is $12.67.

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Several equities analysts have recently weighed in on the company. TheStreet raised Bluerock Residential Growth REIT from a “d+” rating to a “c-” rating in a report on Thursday, June 1st. Zacks Investment Research raised Bluerock Residential Growth REIT from a “sell” rating to a “hold” rating in a report on Wednesday, April 19th. FBR & Co reissued an “outperform” rating and set a $15.00 price target on shares of Bluerock Residential Growth REIT in a report on Tuesday, July 11th. Finally, Compass Point cut Bluerock Residential Growth REIT from a “buy” rating to a “neutral” rating and lowered their price target for the company from $16.50 to $11.00 in a report on Monday, August 7th.

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.

Dividend History for Bluerock Residential Growth REIT (NYSE:BRG)

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