FBR Capital Downgrades Bluerock Residential Growth REIT (BRG) to Market Perform

FBR Capital downgraded Bluerock Residential Growth REIT (NYSE: BRG) from Outperform to Market Perform with a price target of $14.00 (from $15.00).

Analyst David Corak commented, "While we still believe Bluerock’s ability to source off-market transactions through its partner network and convertible investment structure is a competitive advantage, we believe BRG’s markets are poised to feel increasing supply pressure in 2017. We are downgrading shares of BRG to Market Perform and adjusting our price target to $14 (from $15), equal to 12.6x our 2017E core AFFO."

For an analyst ratings summary and ratings history on Bluerock Residential Growth REIT click here. For more ratings news on Bluerock Residential Growth REIT click here.

Shares of Bluerock Residential Growth REIT closed at $13.96 yesterday.

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