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FBR Capital Markets & Co. initiates coverage of Bluerock Residential Growth at 'outperform'

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FBR Capital Markets & Co. initiates coverage of Bluerock Residential Growth at 'outperform'

FBR CapitalMarkets & Co. analyst Patrick Kealey Jr. initiated coverage of witha rating of "outperform," and a price target of $13.

The analyst wrote in a research report: "Bluerock has seensignificant growth since it became a public company, and we believe the foundationhas been laid for improving results in the coming years. The company has a diversifiedportfolio in key markets, which should drive organic rental and NOI improvement,with levers to continue building its asset base long term with accretive deals presentedby its partner network and development portfolio. We believe that today's materialdiscount to NAV presents a favorable entry point for investors and that the companywill continue to grow and achieve greater scale over time, leading to outsized returnsfor investors in the coming years."