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]

Revenue and Occupancy - Rental and other property revenues increased by $0.7 million, or 7%, to $10.8 million for the three months ended March 31, 2024, compared to $10.1 million for the same period in 2023[15]. - Average rent per occupied unit rose by $58, or 3.8%, to $1,600 compared to $1,542 in the prior year[16]. - Average occupancy increased by 30 basis points from 94.2% to 94.5% year-over-year[16]. - Consolidated occupancy rate remained strong at 94.8% as of March 31, 2024, although future periods may see reduced tenant retention and foot traffic[28]. - As of March 31, 2024, the Company's consolidated operating investments were approximately 94.8% occupied, with a total of 4,366 residential units across twenty real estate investments[65]. - The occupancy percentage for Peak Housing increased to 92.9%, up from 88.3% on December 31, 2023[152]. - The occupancy rate for The Woods at Forest Hill improved to 71.4% as of March 31, 2024, compared to 63.2% on December 31, 2023[152]. - The occupancy rate for Wayford at Innovation Park increased to 18.1% as of March 31, 2024, up from 11.0% on December 31, 2023[152]. Financial Performance - Total revenues for the three months ended March 31, 2024, were $11,176 million, an increase from $10,138 million in the same period of 2023, representing a growth of 10.3%[84]. - Total expenses increased to $15,088 million in Q1 2024 from $14,977 million in Q1 2023, reflecting a rise of 0.7%[84]. - The net loss for the three months ended March 31, 2024, was $3,170 million, an improvement from a net loss of $5,278 million in Q1 2023, indicating a reduction of 40%[84]. - The company reported a net loss attributable to common stockholders for March 2024 was $1,020,000, compared to a loss of $1,540,000 in March 2023, representing a 33.8% improvement[27]. - Net operating income (NOI) for March 2024 was $5,753,000, an increase of 3.1% from $5,581,000 in March 2023[27]. - The company reported a net loss per common share of $0.27 for Q1 2024, compared to a net loss per common share of $0.40 in Q1 2023[84]. Expenses and Costs - Property operating expenses increased by $0.4 million, or 10%, to $5.0 million for the three months ended March 31, 2024, compared to $4.6 million for the same period in 2023[18]. - General and administrative expenses amounted to $2.9 million for the three months ended March 31, 2024, compared to $2.0 million for the same prior year period[20]. - Management fees to related parties increased to $2,071,000 in March 2024 from $1,922,000 in March 2023, reflecting a 7.8% rise[27]. - Real estate depreciation and amortization for March 2024 was $3,970,000, slightly up from $3,918,000 in March 2023[27]. - The Company recorded a depreciation expense of $4.0 million for the three months ended March 31, 2024, consistent with the same period in 2023[120]. Assets and Liabilities - Total stockholders' equity decreased by $2.9 million from $147.4 million as of December 31, 2023, to $144.5 million as of March 31, 2024[11]. - Total Net Real Estate Investments increased to $499,953 million as of March 31, 2024, up from $464,900 million at December 31, 2023, representing an increase of 7.1%[59]. - Total Assets reached $727,444 million, a growth of 8.3% from $671,620 million at the end of 2023[59]. - Total Liabilities increased to $238,178 million, up 23.6% from $192,748 million at the end of 2023[59]. - Mortgages payable rose to $120,201 million, an increase of 24.4% from $96,670 million at December 31, 2023[59]. - Stockholders' Equity decreased to $144,477 million from $147,351 million, a decline of 1.9%[59]. - Noncontrolling Interests increased to $327,950 million, up from $323,248 million, reflecting a growth of 1.1%[59]. Cash Flow and Financing - Cash flows from operating activities resulted in a net cash used of $744 million for the three months ended March 31, 2024, compared to $1,695 million for the same period in 2023[63]. - Net cash used in investing activities was $19,286 million for the three months ended March 31, 2024, compared to $5,989 million for the same period in 2023[63]. - The Company had a net cash provided by financing activities of $30,924 million for the three months ended March 31, 2024, compared to a net cash used of $11,275 million for the same period in 2023[63]. - Cash, cash equivalents, and restricted cash increased to $99,129 million at the end of the period, up from $63,102 million at the end of the previous year[63]. - The Company recognized $2,337 million in cash paid for interest during the three months ended March 31, 2024, compared to $1,717 million for the same period in 2023[63]. Investments and Acquisitions - The Company acquired a 294-unit single-family residential community in Houston, Texas, known as Villas at Huffmeister, for a purchase price of $41.2 million, funded by a $24.3 million senior loan assumption and $17.4 million in cash[80]. - The company anticipates improvements in results related to its existing portfolio due to future investments in single-family residential properties and build-to-rent developments[32]. - The Company is developing the Abode Wendell Falls project, with an estimated total project cost of $56.0 million, of which $6.6 million had been incurred as of March 31, 2024[110]. - The Company has a focus on acquiring pre-existing single-family residential units and developing build-to-rent communities to drive growth in funds from operations and net asset value[91]. Market Conditions and Risks - The company is monitoring inflation and rising interest rates, which could negatively impact residents' ability to pay rents and overall results of operations[41]. - The company continues to monitor the impact of economic volatility, including inflation and interest rate changes, on its financial condition and operations[99]. REIT Compliance - The company intends to maintain its REIT status by distributing at least 90% of its taxable income to stockholders, which is crucial for avoiding corporate-level income taxes[38]. - The Company plans to conduct share repurchases in accordance with market conditions and regulatory requirements[199].

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 ...

Real Estate Investments - As of December 31, 2023, the company held 18 real estate investments, comprising 4,059 residential units, with a consolidated operating occupancy rate of approximately 94.1%[147] - The company has acquired scattered-site homes with year one nominal cap rates exceeding 5% and gross rental yields exceeding 9%[134] - In 2023, the company acquired Savannah-84, increasing ownership from 80% to 100%, with 18 units added[163] - In 2023, the company sold 1 unit of Golden Pacific in May and 1 unit in October, both with a 97% ownership interest[165] Growth Strategy - The company aims to achieve sustainable long-term growth in funds from operations (FFO) and net asset value (NAV) by assembling a portfolio of pre-existing single-family rental homes and developing build-to-rent communities targeting middle-income renters[152] - The company intends to sell properties opportunistically to harvest profits and reinvest proceeds, maximizing stockholder value[155] - The company plans to commence construction on the Abode Wendell Falls project in Q2 2024, with an estimated total project cost of $56.0 million, of which $6.5 million has been incurred as of December 31, 2023[163] Financial Management - The company has a $150 million revolving credit facility to meet primary liquidity requirements, which may limit its ability to fully execute its business plan[125] - The company has utilized mortgage and other indebtedness to finance operations, which increases business risk[126] - The fair value of mortgages payable is estimated at $93.0 million as of December 31, 2023[717] - The company has interest rate caps and swaps covering $94.0 million of its debt to manage interest rate risk[718] - The company evaluates operating performance based on NOI, which excludes corporate level expenses[174] REIT Compliance - The company is required to distribute at least 90% of its REIT taxable income to maintain its REIT status, failing which it would be subject to corporate-level taxation[143] - The company intends to maintain its REIT qualification by distributing at least 90% of its REIT taxable income[166] Operational Efficiency - The company plans to implement a technology-aided platform, including a data warehouse for real-time visibility into leasing and maintenance metrics, to enhance operational efficiency and drive net operating income (NOI) margin expansion[161] - The company has a stock repurchase plan in place to manage market risk[716] - The company’s disclosure controls and procedures were deemed effective as of December 31, 2023[721] Management and Risk Factors - The company has a limited operating history as a REIT, making future performance difficult to predict[132] - The company relies on key personnel from its external manager, and their departure could materially affect its business[137]

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 ...