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Compass Pt Rch & Trading LLC downgrades Bluerock Residential Growth to 'neutral'

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Compass Pt Rch & Trading LLC downgrades Bluerock Residential Growth to 'neutral'

Compass Point Research & Trading LLC analystSteve Shawdowngraded his investment opinion of Bluerock Residential Growth REIT Inc. to"neutral" from "buy," and decreased his price target to $11from $16.50.

The analyst wrote in a research report: "While the moveto internalize should be a positive one, the company also announced that it wasreviewing its dividend in an effort to pay a 'competitive, sustainable andcovered' dividend. We think that means a 50% cut to the dividend could becoming, possibly more and that investors should be viewing the stock as onethat yields 5.2% instead of the current yield of 10.3%. While the company'splan for growth should remain intact, we think it's going to be a long clawback to gain investors' confidence."