In a report released today, Merrill Ross from Boenning & Scattergood maintained a Buy rating on Bluerock Residential Growth (BRG). The company’s shares closed yesterday at $9.02.
Ross wrote:
“We lowered our NAV estimate from $13.50 to $12.70. We are lowering our price target to $10.50, which is 83% of revised NAV. That multiple is a premium compared to the small-cap multifamily REIT average of 81%, which we think is warranted due to the quality of BRG’s apartment portfolio and opportunities for internal growth from renovation. We maintain our Outperform rating.”
According to TipRanks.com, Ross is a 1-star analyst with an average return of -1.7% and a 45.2% success rate. Ross covers the Financial sector, focusing on stocks such as Preferred Apartment Communities, NexPoint Residential Trust Inc, and Gladstone Commercial Corp.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Bluerock Residential Growth with a $11.25 average price target.
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The company has a one-year high of $11.75 and a one-year low of $7.02. Currently, Bluerock Residential Growth has an average volume of 119.7K.
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Bluerock Residential Growth REIT, Inc. operates as a real estate investment trust. It engages in acquiring apartment properties. The company was founded on July 25, 2008 and is headquartered in New York, NY.
