Core Insights - Bluerock Homes Trust (BHM) has seen a significant stock price increase of 45% since October 2023, outperforming the S&P 500 Real Estate Index, which rose by 21.8% during the same period [1][2] - The stock's rise is attributed to improvements in the real estate sector and strong revenue growth of 20.3% for the full year 2023, despite a subsequent correction in early 2024 [2][4] - The company remains unprofitable, but there has been a slight improvement in loss trends, with a 3.7% year-on-year decrease in losses in Q1 2024 [4][7] Financial Performance - Total revenues for BHM reached USD 11.176 million for the period ending March 31, 2024, compared to USD 10.138 million in the previous year [3] - The preferred non-GAAP measure of net operating income grew by 3.1% year-on-year to USD 5.75 million, although this growth has slowed from 23.4% in 2023 [16] - The average occupancy rate increased by 30 basis points to 94.5%, showing a modest improvement compared to a 200 basis points rise in 2023 [15] Market Multiples - The trailing twelve months (TTM) price-to-funds from operations (P/FFO) ratio is currently at 84x, a significant increase from 25.3x previously [9] - The TTM price-to-rental revenue (P/RR) ratio stands at 1.78x, which is more favorable compared to peers like Invitation Homes (INVH) at 8.39x and UMH Properties (UMH) at 6.39x [10][17] - Forward estimates suggest a P/FFO ratio could rise to 198x, while the core FFO ratio improves to 18.9x, indicating potential valuation concerns [18] Outlook - The stock's sustained price levels are becoming harder to justify following the slower revenue growth of 10.2% year-on-year in Q1 2024, down from previous highs [7][19] - Future performance may hinge on the start of a rate cut cycle, which could positively impact real estate stocks, and upcoming financial results in early August [20]

Core Points - Bluerock Homes Trust, Inc. has declared monthly cash dividends on its Series A Redeemable Preferred Stock for Q3 2024 at a quarterly rate of $0.375 per share [1][3] - The company focuses on high-quality single-family properties in attractive markets, particularly in the Sunbelt and high-growth areas of the Western United States [2] - The principal objective of the company is to generate attractive risk-adjusted investment returns through a portfolio of single-family rental homes and build-to-rent communities [2] Dividend Details - The Series A Preferred Dividends will be paid as follows: $0.125 per share on August 5, September 5, and October 4, 2024, with record dates on July 25, August 23, and September 25, 2024, respectively [3] - Enhanced special dividends will also be declared for Q3 2024, aggregating with regular dividends to yield a rate based on the average one-month Secured Overnight Financing Rate (SOFR Rate) plus 2.0%, with a minimum of 6.5% and a maximum of 8.5% annual rate [7]

Core Points - Spirit Airlines will launch the only nonstop flight from Birmingham (BHM) to Fort Lauderdale (FLL) starting October 10, 2024, marking its first service in Alabama [1][6] - The introductory fare for the new route is set at $69 one way, available for travel from October 10 to November 19, 2024, with a 14-day advance purchase requirement [2][3][5] - The new service aims to provide affordable travel options to Florida and enhance connectivity to Latin America and the Caribbean [1][6] Spirit Airlines Birmingham (BHM) Service - Destination: Fort Lauderdale (FLL) - Flights Available: Daily - Launch Date: October 10, 2024 - Intro Fare: $69 one way [2] Guest Experience Enhancements - Spirit Airlines has introduced no change or cancel fees for all guests [7] - Increased checked bag weight allowance to 50 pounds [7] - Extended expiration for Future Travel Vouchers to 12 months for vouchers issued on or after June 3, 2024 [7] - Cabin enhancements include wider seats, added cushion, new headrests, and upgrades to the Big Front Seat [7] - Fast onboard Wi-Fi allows guests to stream content from various services [7] Company Commitment - Spirit Airlines emphasizes its commitment to providing customizable travel options through an unbundled fare system, allowing guests to pay only for selected services [8] - The airline operates one of the youngest and most fuel-efficient fleets in the U.S. [8] - Spirit Airlines aims to inspire positive change in communities through the Spirit Charitable Foundation [8]

(1) Series A Preferred Stock distribution per share amounts include the standard dividend at an annual rate of 6.0% of the Stated Value and any special dividends. The following discussion and analysis should be read in conjunction with the accompanying financial statements of Bluerock Homes Trust, Inc., and the notes thereto. As used herein, the terms "the Company", "we", "our", and "us" refer to Bluerock Homes Trust, Inc., a Maryland corporation formed on December 16, 2021, and, as required by context, Blu ...

NEW YORK, May 3, 2024 /PRNewswire/ -- Bluerock Homes Trust, Inc. (NYSE American: BHM) (the "Company") today announced that its Board of Directors (the "Board") has authorized the payment of a new special dividend (the "Series A Preferred Special Dividends") with respect to the Company's Series A Redeemable Preferred Stock (the "Series A Preferred Stock") replacing its previously announced special dividend. The Company intends to pay the Series A Preferred Special Dividends which will be seamlessly aggregate ...

NEW YORK, April 12, 2024 /PRNewswire/ -- Bluerock Homes Trust, Inc. (NYSE American: BHM) (the "Company") today announced that its Board of Directors has authorized and the Company has declared monthly cash dividends on the Company's Series A Redeemable Preferred Stock (the "Series A Preferred Stock") for the second quarter of 2024, equal to a quarterly rate of $0.375 per share (the "Series A Preferred Dividends"). The Series A Preferred Dividends will be payable in cash as follows: accrued but unpaid divide ...

NEW YORK, March 13, 2024 /PRNewswire/ -- Bluerock Homes Trust, Inc. (NYSE American: BHM) (the "Company") today announced that its Board of Directors has established June 13, 2024 as the date of its 2024 annual meeting of stockholders. The Board of Directors has established April 12, 2024 as the record date for the determination of stockholders entitled to vote at the meeting. About Bluerock Homes Trust, Inc.Bluerock Homes Trust, Inc. (NYSE American: BHM), headquartered in New York, New York, is an externall ...

2 Table of Contents PART I Item 1. Business 7 Item 1A. Risk Factors 13 Item 1B. Unresolved Staff Comments 56 Item 1C. Cybersecurity 56 Item 2. Investments 58 Item 3. Legal Proceedings 59 Item 4. Mining Safety Disclosures 59 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 60 Item 6. [Reserved] 61 Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 61 Item 7A. Quantitative and Qualitative Dis ...

NEW YORK, Feb. 22, 2024 /PRNewswire/ -- Bluerock Homes Trust, Inc. (NYSE American: BHM) (the "Company") today announced that its Board of Directors has authorized a new plan for the repurchase of up to $5.0 million of its outstanding shares of Class A common stock (the "Class A Common Stock"). The repurchase plan will be conducted in accordance with the requirements of Rule 10b-18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act") and subject to Rule 10b-5 of the Exchange Act. The repur ...

jimfengBluerock Homes Trust (NYSE:BHM) is a single-family residential REIT that was spun off from Bluerock Residential Growth REIT, Inc. after Bluerock Residential Growth REIT was acquired by Blackstone for $3.6 billion in October 2022. Bluerock Homes owns a portfolio of high-quality single-family homes primarily in the Sunbelt states and Western United States. Per the most recent quarterly report, Bluerock owned roughly 4,000 properties through its operating and preferred equity investments. Bluerock H ...