Bluerock Residential Growth REIT (NYSEAMERICAN:BRG) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report issued on Tuesday, Zacks.com reports.

According to Zacks, “Bluerock Residential Growth REIT, Inc. operates as a real estate investment trust. It acquires apartment properties in demographically attractive growth markets throughout the United States. Bluerock Residential Growth REIT, Inc. is based in New York. “

Separately, Boenning Scattergood restated a “buy” rating and set a $12.00 price objective on shares of Bluerock Residential Growth REIT in a report on Wednesday, May 8th.

Shares of BRG traded down $0.02 during midday trading on Tuesday, hitting $11.73. 63,100 shares of the stock traded hands, compared to its average volume of 162,157. Bluerock Residential Growth REIT has a 1-year low of $8.19 and a 1-year high of $12.28.

Bluerock Residential Growth REIT (NYSEAMERICAN:BRG) last posted its quarterly earnings data on Tuesday, May 7th. The financial services provider reported ($0.53) earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.65). The company had revenue of $51.47 million for the quarter, compared to analyst estimates of $51.15 million.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Macquarie Group Ltd. grew its stake in shares of Bluerock Residential Growth REIT by 3,330.8% in the fourth quarter. Macquarie Group Ltd. now owns 126,940 shares of the financial services provider’s stock worth $1,145,000 after purchasing an additional 123,240 shares during the last quarter. Martingale Asset Management L P bought a new stake in shares of Bluerock Residential Growth REIT in the first quarter worth about $1,245,000. AJO LP bought a new stake in shares of Bluerock Residential Growth REIT in the first quarter worth about $968,000. BlackRock Inc. grew its stake in shares of Bluerock Residential Growth REIT by 3.9% in the fourth quarter. BlackRock Inc. now owns 1,734,100 shares of the financial services provider’s stock worth $15,642,000 after purchasing an additional 64,455 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Bluerock Residential Growth REIT by 11.3% in the fourth quarter. Geode Capital Management LLC now owns 296,958 shares of the financial services provider’s stock worth $2,678,000 after purchasing an additional 30,107 shares during the last quarter. Institutional investors and hedge funds own 34.46% of the company’s stock.

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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