Equities analysts forecast that Bluerock Residential Growth REIT Inc (NYSE:BRG) will post $29.12 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Bluerock Residential Growth REIT’s earnings, with the highest sales estimate coming in at $33.15 million and the lowest estimate coming in at $25.09 million. Bluerock Residential Growth REIT reported sales of $19.62 million during the same quarter last year, which would suggest a positive year over year growth rate of 48.4%. The business is expected to issue its next quarterly earnings results on Monday, November 6th.

On average, analysts expect that Bluerock Residential Growth REIT will report full year sales of $29.12 million for the current fiscal year, with estimates ranging from $101.72 million to $123.14 million. For the next year, analysts anticipate that the business will report sales of $128.13 million per share, with estimates ranging from $109.63 million to $146.64 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Bluerock Residential Growth REIT.

BRG has been the subject of several recent research reports. Zacks Investment Research cut Bluerock Residential Growth REIT from a “hold” rating to a “sell” rating in a research report on Monday, July 10th. Northland Securities reaffirmed a “buy” rating and set a $14.85 price objective on shares of Bluerock Residential Growth REIT in a research report on Tuesday, September 5th. Compass Point cut Bluerock Residential Growth REIT from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $16.50 to $11.00 in a research report on Monday, August 7th. FBR & Co reaffirmed an “outperform” rating and set a $15.00 price objective on shares of Bluerock Residential Growth REIT in a research report on Tuesday, July 11th. Finally, TheStreet raised Bluerock Residential Growth REIT from a “d+” rating to a “c-” rating in a research report on Thursday, June 1st. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $13.96.

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Bluerock Residential Growth REIT by 10.4% during the second quarter. Vanguard Group Inc. now owns 951,715 shares of the company’s stock worth $12,267,000 after buying an additional 89,432 shares during the period. State Street Corp boosted its position in shares of Bluerock Residential Growth REIT by 13.4% during the second quarter. State Street Corp now owns 439,509 shares of the company’s stock worth $5,664,000 after buying an additional 51,988 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Bluerock Residential Growth REIT by 15.6% during the second quarter. Dimensional Fund Advisors LP now owns 299,886 shares of the company’s stock worth $3,866,000 after buying an additional 40,439 shares during the period. Northern Trust Corp boosted its position in shares of Bluerock Residential Growth REIT by 5.0% during the second quarter. Northern Trust Corp now owns 269,608 shares of the company’s stock worth $3,475,000 after buying an additional 12,865 shares during the period. Finally, Kennedy Capital Management Inc. boosted its position in shares of Bluerock Residential Growth REIT by 2.2% during the second quarter. Kennedy Capital Management Inc. now owns 245,170 shares of the company’s stock worth $3,160,000 after buying an additional 5,204 shares during the period.

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Bluerock Residential Growth REIT (NYSE BRG) traded down 0.48% during midday trading on Friday, hitting $10.40. The stock had a trading volume of 202,747 shares. The stock has a 50-day moving average of $11.07 and a 200-day moving average of $12.23. Bluerock Residential Growth REIT has a 52 week low of $9.68 and a 52 week high of $14.79.

The company also recently disclosed a monthly dividend, which will be paid on Thursday, October 5th. Stockholders of record on Monday, September 25th will be given a dividend of $0.0967 per share. This is a boost from Bluerock Residential Growth REIT’s previous monthly dividend of $0.10. This represents a $1.16 annualized dividend and a dividend yield of 11.15%. The ex-dividend date is Friday, September 22nd.

About Bluerock Residential Growth REIT

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.

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