Bluerock Residential Growth REIT Inc (BRG) Sees Large Growth in Short Interest
Bluerock Residential Growth REIT Inc (NYSEAMERICAN:BRG) saw a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 1,163,063 shares, a growth of 58.6% from the October 13th total of 733,262 shares. Based on an average trading volume of 287,311 shares, the days-to-cover ratio is presently 4.0 days. Approximately 4.8% of the shares of the company are sold short.
A number of large investors have recently added to or reduced their stakes in BRG. EJF Capital LLC lifted its holdings in Bluerock Residential Growth REIT by 21.4% during the 3rd quarter. EJF Capital LLC now owns 85,000 shares of the financial services provider’s stock worth $940,000 after purchasing an additional 15,000 shares during the last quarter. Kalos Management Inc. acquired a new stake in Bluerock Residential Growth REIT during the 3rd quarter worth approximately $298,000. Ladenburg Thalmann Financial Services Inc. lifted its holdings in Bluerock Residential Growth REIT by 63.0% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 16,652 shares of the financial services provider’s stock worth $184,000 after purchasing an additional 6,438 shares during the last quarter. Finally, Janney Montgomery Scott LLC lifted its holdings in Bluerock Residential Growth REIT by 27.0% during the 3rd quarter. Janney Montgomery Scott LLC now owns 51,198 shares of the financial services provider’s stock worth $566,000 after purchasing an additional 10,898 shares during the last quarter. 34.46% of the stock is owned by institutional investors and hedge funds.
Bluerock Residential Growth REIT (BRG) opened at $11.34 on Friday. The company has a current ratio of 304.45, a quick ratio of 304.45 and a debt-to-equity ratio of 2.47. Bluerock Residential Growth REIT has a one year low of $9.68 and a one year high of $14.77.
The company also recently declared a monthly dividend, which will be paid on Tuesday, December 5th. Investors of record on Friday, November 24th will be issued a dividend of $0.097 per share. The ex-dividend date is Wednesday, November 22nd. This represents a $1.16 annualized dividend and a yield of 10.26%. Bluerock Residential Growth REIT’s payout ratio is currently -362.50%.
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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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