Bluerock Residential Growth REIT (NYSEAMERICAN:BRG) Issues Earnings Results, Misses Estimates By $0.65 EPS

Bluerock Residential Growth REIT (NYSEAMERICAN:BRG) issued its quarterly earnings data on Tuesday, May 7th. The financial services provider reported ($0.53) EPS for the quarter, missing the consensus estimate of $0.12 by ($0.65), MarketWatch Earnings reports. The firm had revenue of $51.47 million during the quarter, compared to analysts’ expectations of $51.15 million.

Shares of BRG stock opened at $11.38 on Friday. Bluerock Residential Growth REIT has a 52-week low of $8.19 and a 52-week high of $11.77.

BRG has been the subject of several research reports. Boenning Scattergood reissued a “buy” rating and set a $12.00 price objective on shares of Bluerock Residential Growth REIT in a report on Wednesday, May 8th. Zacks Investment Research lowered Bluerock Residential Growth REIT from a “buy” rating to a “hold” rating in a report on Thursday, February 21st. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $11.67.

An institutional investor recently raised its position in Bluerock Residential Growth REIT stock. Geode Capital Management LLC grew its stake in shares of Bluerock Residential Growth REIT Inc (NYSEAMERICAN:BRG) by 11.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 296,958 shares of the financial services provider’s stock after buying an additional 30,107 shares during the quarter. Geode Capital Management LLC owned 1.25% of Bluerock Residential Growth REIT worth $2,678,000 at the end of the most recent quarter. 34.46% of the stock is owned by hedge funds and other institutional investors.

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Bluerock Residential Growth REIT Company Profile

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.

Further Reading: What is diluted earnings per share (Diluted EPS)?

Earnings History for Bluerock Residential Growth REIT (NYSEAMERICAN:BRG)

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