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 ...

NEW YORK, Jan. 31, 2024 /PRNewswire/ -- The income tax treatment for 2023 dividends for Bluerock Homes Trust, Inc.'s Class A common stock, traded on the NYSE American Exchange under ticker symbol BHM, and Class C common stock, are as follows (as reported on Form 1099-DIV).  Class A common stock, CUSIP #09631H100, and Class C common stock. Class A & C Common Stock Record Date Payable Date  Distribution Rate Per Share Ordinary Dividend Rate Non-Dividend Rate Total Capital Gains Rat ...

NEW YORK, Jan. 16, 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 first 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 dividend ...

Revenue Growth - Rental and other property revenues increased by $1.6 million, or 18%, to $10.2 million for the three months ended September 30, 2023, compared to $8.6 million for the same prior year period, primarily due to unit count growth of 137 units [373]. - For the nine months ended September 30, 2023, rental and other property revenues increased by $7.5 million, or 32%, to $30.6 million compared to $23.1 million for the same prior year period, driven by unit count growth of 542 units [377]. - Total property income for the nine months ended September 30, 2023, was $12,589 million, an increase from $7,744 million in the prior year [383]. Operating Performance - As of September 30, 2023, consolidated operating investments were approximately 94.4% occupied, with a total of 3,996 residential units across 17 investments [366]. - Net operating income for the three months ended September 30, 2023, was $5,089 million, compared to $4,168 million for the same period in 2022 [383]. - Cash flows from operating activities for the nine months ended September 30, 2023, were $15,269,000, compared to $9,156,000 for the same period in 2022 [425]. Expenses - General and administrative expenses amounted to $5.5 million for the nine months ended September 30, 2023, compared to $5.0 million for the same prior year period [379]. - Property operating expenses increased by $3.2 million, or 29%, to $14.2 million for the nine months ended September 30, 2023, compared to $11.0 million for the same period in 2022 [409]. - Acquisition and other transaction costs amounted to $1.8 million for the nine months ended September 30, 2023, compared to $0.1 million for the same prior year period [410]. Financial Position - The total stockholders' equity decreased by $4.9 million from $160.0 million as of December 31, 2022, to $155.1 million as of September 30, 2023 [401]. - The fair value of mortgages payable was estimated at $91.9 million as of September 30, 2023 [273]. - The weighted average interest rate on mortgage notes payable was 4.21% as of September 30, 2023 [429]. Net Income and Loss - For the three months ended September 30, 2023, the net loss attributable to common stockholders was $(1,068) million, compared to a net income of $287 million for the same period in 2022 [383]. - The net loss attributable to common stockholders for the three months ended September 30, 2023, was $1,068,000, compared to a net income of $287,000 for the same period in 2022 [425]. - Funds from operations (FFO) attributable to common stockholders for the three months ended September 30, 2023, were $430,000, down from $3,598,000 in the same period last year [425]. Investment Activities - The acquisition of 18 single-family residential units in Savannah, Georgia was completed on February 23, 2023, for a purchase price of approximately $4.2 million, fully funded in cash [357]. - The company funded approximately $7.5 million of preferred equity investments in various joint ventures during the nine months ended September 30, 2023 [400]. - The company anticipates improvements in results from its existing portfolio due to future investments in single-family residential properties and build-to-rent developments [415]. Market Conditions and Future Outlook - The company continues to monitor inflation and rising interest rates, which could negatively impact residents' ability to pay rents and overall results of operations [355]. - The company plans to continue monitoring debt markets and access advantageous borrowings as market conditions permit [387]. - The company expects to meet its liquidity requirements for the next 12 months through available cash balances, cash flows from operations, and proceeds from various financing arrangements [415]. - The company may supplement its capital for short-term liquidity needs through potential offerings of common and preferred stock, depending on market conditions [416]. Dividends and Stock Offerings - The company filed a prospectus supplement offering a maximum of 20,000,000 shares of 6.0% Series A Redeemable Preferred Stock at $25.00 per share, aiming for a maximum offering amount of $500 million [370]. - The company intends to maintain its qualification as a REIT by distributing at least 90% of its REIT taxable income to stockholders annually [367]. - The company plans to maintain monthly dividends on its Series A Preferred Stock, with future distributions potentially coming from various sources including cash flow from operations and asset sales [419]. Interest Income - Interest income from loan investments decreased by $0.1 million, or 100%, to zero for the three months ended September 30, 2023, due to the payoff of one loan since September 30, 2022 [363]. - Interest income from loan investments decreased by $1.3 million, or 100%, to zero for the nine months ended September 30, 2023, due to the payoff of two loans in 2022 [408]. Interest Rate Sensitivity - A 100-basis point change in interest rates would affect interest expense by approximately $50,000 for the quarter ended September 30, 2023 [430]. - The average occupancy rate across properties was 94.4% [402].

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to ______ Commission File Number 001-41322 BLUEROCK HOMES TRUST, INC. (Exact name of registrant as specified in its charter) Marylan ...

Financial Position - As of March 31, 2023, the fair value of the Company's mortgages payable is estimated at $94.1 million, compared to a carrying amount of $99.0 million [109]. - As of March 31, 2023, the total mortgage notes payable amounted to $97.854 billion, with a weighted average interest rate of 5.26% [81]. - The company has revolving credit facilities totaling $49 million, with a weighted average interest rate of 7.61% [81]. Interest Rate Management - The Company had interest rate caps and swaps that limit exposure to interest rate risk for $68.6 million of its debt [114]. - Interest rate caps and swaps are in place to manage interest rate risk, effectively limiting exposure for $68.6 million of debt [81]. - The Company has not designated any interest rate derivatives as hedges, but believes they are effective economic hedges against interest rate increases [113]. - A 100-basis point increase or decrease in interest rates would result in an approximate $62,000 change in interest expense for the quarter ended March 31, 2023 [82]. Management Fees and Expenses - For the three months ended March 31, 2023, the Company recorded a base management fee of $1.9 million and expense reimbursements of $0.4 million [118]. - Total amounts payable to the Manager as of March 31, 2023, were $2.361 million, an increase from $2.211 million as of December 31, 2022 [120]. - The Management Agreement with the Manager requires a base management fee of 1.50% of the Company's New Stockholders' Equity per year [116]. Shareholder Information - The Company distributed an aggregate of 3,843,502 shares of common stock to stockholders on October 6, 2022, as part of a spin-off transaction [124]. - The number of outstanding shares as of May 8, 2023, includes 3,835,013 shares of Class A Common Stock and 8,489 shares of Class C Common Stock [132]. Economic Risks - The Company is exposed to economic risks including interest rate, liquidity, and credit risk, managed through its core business activities and derivative financial instruments [110]. - The Company had no receivables due from any related parties as of March 31, 2023 [120]. Earnings Per Share - Basic net loss per common share is calculated based on net loss attributable to common stockholders divided by the weighted average number of common shares outstanding [125].

Real Estate Investments - The company has a current portfolio primarily consisting of single-family residential homes concentrated in specific markets, with expectations to maintain this focus going forward [24]. - As of December 31, 2022, the company held 17 real estate investments, including 10 consolidated operating investments and 7 preferred equity investments, totaling 2,340 units [325]. - The company sold six multifamily consolidated operating investments in 2021, marking a strategic shift towards single-family residential units [378]. Financial Performance - The company recorded a loss on the sale of Plantation Park amounting to $1.1 million, with net proceeds of approximately $4.9 million from the sale [316]. - The sale of The District at Scottsdale generated net proceeds of approximately $74.8 million and a gain on sale of approximately $29.6 million [319]. - The sale of ARIUM Grandewood generated net proceeds of approximately $25.1 million and a gain on sale of approximately $27.7 million [382]. - The sale of James at South First resulted in net proceeds of approximately $21.1 million and a gain on sale of approximately $17.4 million [383]. - The sale of Marquis at The Cascades properties generated net proceeds of approximately $37.3 million and a gain on sale of approximately $23.7 million [385]. - The company recorded a loss on extinguishment of debt of $2.6 million related to the sale of James at South First [383]. - The company recorded a loss on extinguishment of debt of $0.3 million related to the sale of Marquis at The Cascades [385]. Capital and Financing - The company has limited sources of capital, primarily relying on future mortgage debt financings, cash from property operations, and a $150 million revolving credit facility [26]. - The company may face challenges in fully funding distributions from cash flows generated by operating activities, potentially relying on financing activities, borrowings, and other sources [360]. - The company has not established a cap on the amount of distributions that may be paid from financing sources, which could lead to future liabilities and impact cash available for operations and investments [363]. Interest Rate and Risk Management - A 100 basis point increase or decrease in interest rates on variable rate debt would result in an annual increase or decrease in future interest expense of approximately $0.2 million [314]. - The company’s interest rate risk is monitored using various techniques, with a focus on the variability of future interest rates [311]. Depreciation and Expenses - The company incurred depreciation expenses of $12.9 million and $3.6 million for the years ended December 31, 2022, and 2021, respectively [327]. Tenant and Lease Information - As of December 31, 2022, security deposits related to tenant leases totaled $2.1 million, up from $1.5 million in 2021, indicating a 40% increase year-over-year [331]. - The Company has a total of 122 lease-up units planned, with actual occupancy expected to begin in Q4 2022 for The Woods at Forest Hill and Q2 2022 for Willow Park [332]. - The Cottages at Myrtle Beach, with 294 units, is expected to reach initial occupancy in Q2 2023, while construction completion is anticipated in Q4 2023 [332]. Preferred Stock and Shareholder Considerations - The Company may redeem Series A Redeemable Preferred Stock voluntarily after two years from issuance, which could expose holders to reinvestment risk if market conditions change [333]. - The liquidation preference for Series A Redeemable Preferred Stock is fixed at $25.00 per share, plus accrued and unpaid dividends [342]. - The Company is subject to Maryland law, which limits its ability to pay dividends or redeem shares if it cannot meet its debt obligations [346]. - Holders of Series A Redeemable Preferred Stock face inflation risk, as the real value of their investment may decline due to rising prices [339]. - There is currently no public trading market for Series A Redeemable Preferred Stock, which may limit holders' ability to sell their shares [352]. - The Manager and its affiliates will receive fees and expense reimbursements that reduce the cash available for distribution to stockholders [359]. - The Company has restrictions on ownership of Series A Redeemable Preferred Stock to maintain its qualification as a REIT, limiting any single holder to a maximum of 9.8% [345]. Personnel and Management - The company’s success is significantly dependent on key personnel, and the loss of any of these individuals could materially affect its business [30]. Credit Losses and Collateral Evaluation - The company estimates its provision for credit losses using a collective approach based on expected credit losses for the life of the investment [374]. - The company evaluates the value of underlying collateral to determine if a loan or preferred equity investment is fully recoverable, considering future cash flows and market conditions [377].