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Bluerock Residential Growth REIT

AMEX:BRG.PRC
Snowflake Description

Adequate balance sheet and slightly overvalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
BRG.PRC
AMEX
$329M
Imp Market Cap
  1. Home
  2. US
  3. Real Estate
Company description

Bluerock Residential Growth REIT, Inc. (NYSE American: BRG) is a real estate investment trust that focuses on developing and acquiring a diversified portfolio of institutional-quality highly amenitized live/work/play apartment communities in demographically attractive knowledge economy growth markets to appeal to the renter by choice. The last earnings update was 14 days ago. More info.


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BRG.PRC Share Price and Events
7 Day Returns
1.6%
AMEX:BRG.PRC
-0.3%
US REITs
0.2%
US Market
1 Year Returns
8.9%
AMEX:BRG.PRC
13.3%
US REITs
2.9%
US Market
BRG.PRC Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Bluerock Residential Growth REIT (BRG.PRC) 1.6% 2.7% 4.1% 8.9% - -
US REITs -0.3% 3.5% 3.2% 13.3% 11.3% 24.8%
US Market 0.2% -1.6% 2.4% 2.9% 36.1% 41%
1 Year Return vs Industry and Market
  • BRG.PRC underperformed the REITs industry which returned 13.3% over the past year.
  • BRG.PRC outperformed the Market in United States of America which returned 2.9% over the past year.
Price Volatility
BRG.PRC
Industry
5yr Volatility vs Market

Value

 Is Bluerock Residential Growth REIT undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Bluerock Residential Growth REIT to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Bluerock Residential Growth REIT.

AMEX:BRG.PRC Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations
Levered Adjusted Funds From Operations Average of 4 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 13.3%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for AMEX:BRG.PRC
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
REITs Unlevered Beta Simply Wall St/ S&P Global 0.53
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.529 (1 + (1- 21%) (389.8%))
1.777
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.78
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.777 * 5.96%)
13.32%

Discounted Cash Flow Calculation for AMEX:BRG.PRC using 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations Model

The calculations below outline how an intrinsic value for Bluerock Residential Growth REIT is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Bluerock Residential Growth REIT is a Real Estate Investment Trust (REIT), we use funds from operations (FFO) or adjusted funds from operations (AFFO) instead of levered free cash flow for REITs. This excludes depreciation and borrowing. Ideally analysts estimates of AFFO are used, where these aren't available we use FFO.

AMEX:BRG.PRC DCF 1st Stage: Next 10 year cash flow forecast
Adjusted Funds From Operations (AFFO) (USD, Millions) Source Present Value
Discounted (@ 13.32%)
2019 23.48 Analyst x7 20.72
2020 25.89 Analyst x6 20.16
2021 26.89 Est @ 3.87% 18.48
2022 27.84 Est @ 3.53% 16.88
2023 28.76 Est @ 3.29% 15.39
2024 29.65 Est @ 3.12% 14.00
2025 30.54 Est @ 3% 12.73
2026 31.44 Est @ 2.92% 11.56
2027 32.34 Est @ 2.86% 10.50
2028 33.25 Est @ 2.82% 9.52
Present value of next 10 years cash flows $149.95
AMEX:BRG.PRC DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $33.25 × (1 + 2.73%) ÷ (13.32% – 2.73%)
$322.59
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $322.59 ÷ (1 + 13.32%)10
$92.39
AMEX:BRG.PRC Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $149.95 + $92.39
$242.34
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $242.34 / 28.92
$19.12
AMEX:BRG.PRC Discount to Share Price
Calculation Result
Value per share (USD) From above. $43.64
Current discount Discount to share price of $25.97
= -1 x ($25.97 - $43.64) / $43.64
40.5%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Bluerock Residential Growth REIT is available for.
Intrinsic value
40%
Share price is $25.97 vs Future cash flow value of $43.64
Current Discount Checks
For Bluerock Residential Growth REIT to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Bluerock Residential Growth REIT's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Bluerock Residential Growth REIT's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Bluerock Residential Growth REIT's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Bluerock Residential Growth REIT's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
AMEX:BRG.PRC PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $-1.95
AMEX:BRG Share Price ** AMEX (2019-05-22) in USD $11.38
United States of America REITs Industry PE Ratio Median Figure of 155 Publicly-Listed REITs Companies 32.92x
United States of America Market PE Ratio Median Figure of 3,085 Publicly-Listed Companies 17.79x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Bluerock Residential Growth REIT.

AMEX:BRG.PRC PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= AMEX:BRG Share Price ÷ EPS (both in USD)

= 11.38 ÷ -1.95

-5.82x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Bluerock Residential Growth REIT is loss making, we can't compare its value to the US REITs industry average.
  • Bluerock Residential Growth REIT is loss making, we can't compare the value of its earnings to the United States of America market.
Price based on expected Growth
Does Bluerock Residential Growth REIT's expected growth come at a high price?
Raw Data
AMEX:BRG.PRC PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -5.82x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts
-11.8%per year
United States of America REITs Industry PEG Ratio Median Figure of 141 Publicly-Listed REITs Companies 2.41x
United States of America Market PEG Ratio Median Figure of 2,123 Publicly-Listed Companies 1.54x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Bluerock Residential Growth REIT, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Bluerock Residential Growth REIT's assets?
Raw Data
AMEX:BRG.PRC PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $2.89
AMEX:BRG Share Price * AMEX (2019-05-22) in USD $11.38
United States of America REITs Industry PB Ratio Median Figure of 191 Publicly-Listed REITs Companies 1.89x
United States of America Market PB Ratio Median Figure of 5,201 Publicly-Listed Companies 1.84x
AMEX:BRG.PRC PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= AMEX:BRG Share Price ÷ Book Value per Share (both in USD)

= 11.38 ÷ 2.89

3.94x

* Primary Listing of Bluerock Residential Growth REIT.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Bluerock Residential Growth REIT is overvalued based on assets compared to the US REITs industry average.
X
Value checks
We assess Bluerock Residential Growth REIT's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the REITs industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the REITs industry average (and greater than 0)? (1 check)
  5. Bluerock Residential Growth REIT has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Bluerock Residential Growth REIT expected to perform in the next 1 to 3 years based on estimates from 4 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-11.8%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Bluerock Residential Growth REIT expected to grow at an attractive rate?
  • Unable to compare Bluerock Residential Growth REIT's earnings growth to the low risk savings rate as it is expected to be loss making during the next 1-3 years.
Growth vs Market Checks
  • Unable to compare Bluerock Residential Growth REIT's earnings growth to the United States of America market average as it is expected to be loss making during the next 1-3 years.
  • Bluerock Residential Growth REIT's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
AMEX:BRG.PRC Future Growth Rates Data Sources
Data Point Source Value (per year)
AMEX:BRG.PRC Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts -11.8%
AMEX:BRG.PRC Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 4 Analysts 6.1%
United States of America REITs Industry Earnings Growth Rate Market Cap Weighted Average 5.8%
United States of America REITs Industry Revenue Growth Rate Market Cap Weighted Average 4.4%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.7%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
AMEX:BRG.PRC Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
AMEX:BRG.PRC Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31
2020-12-31 227 -57 3
2019-12-31 214 -51 3
AMEX:BRG.PRC Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 204 69 -46
2018-12-31 195 64 -43
2018-09-30 181 67 -77
2018-06-30 163 55 -78
2018-03-31 147 51 -50
2017-12-31 134 54 -46
2017-09-30 122 43 -7
2017-06-30 112 43 3
2017-03-31 104 36 -20
2016-12-31 93 34 -19
2016-09-30 81 25 -13
2016-06-30 72 28 -11

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Bluerock Residential Growth REIT is not considered high growth as it is expected to be loss making for the next 1-3 years.
  • Bluerock Residential Growth REIT's revenue is expected to grow by 6.1% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
AMEX:BRG.PRC Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below

All data from Bluerock Residential Growth REIT Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

AMEX:BRG.PRC Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31
2020-12-31 -1.93 -1.71 -2.20 3.00
2019-12-31 -1.93 -1.62 -2.25 4.00
AMEX:BRG.PRC Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 -1.95
2018-12-31 -1.82
2018-09-30 -3.18
2018-06-30 -3.16
2018-03-31 -1.98
2017-12-31 -1.79
2017-09-30 -0.27
2017-06-30 0.12
2017-03-31 -0.91
2016-12-31 -0.91
2016-09-30 -0.64
2016-06-30 -0.55

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Bluerock Residential Growth REIT will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Bluerock Residential Growth REIT's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Bluerock Residential Growth REIT has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Bluerock Residential Growth REIT performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Bluerock Residential Growth REIT's growth in the last year to its industry (REITs).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Bluerock Residential Growth REIT does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Bluerock Residential Growth REIT's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Bluerock Residential Growth REIT's 1-year growth to the US REITs industry average as it is not currently profitable.
Earnings and Revenue History
Bluerock Residential Growth REIT's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Bluerock Residential Growth REIT Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

AMEX:BRG.PRC Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 204.45 -46.10 20.51
2018-12-31 195.03 -43.43 19.55
2018-09-30 181.23 -76.73 59.13
2018-06-30 163.41 -78.24 56.33
2018-03-31 147.49 -50.11 53.83
2017-12-31 133.91 -45.68 51.10
2017-09-30 121.54 -6.70 7.67
2017-06-30 112.34 2.77 6.91
2017-03-31 104.03 -19.84 6.58
2016-12-31 92.97 -18.99 5.93
2016-09-30 81.40 -13.26 5.35
2016-06-30 71.67 -11.29 5.42
2016-03-31 60.48 -6.83 4.45
2015-12-31 52.86 0.62 4.11
2015-09-30 45.85 4.71 3.56
2015-06-30 41.89 3.03 3.09
2015-03-31 37.98 -0.87 3.09
2014-12-31 31.43 -5.30 2.69
2014-09-30 24.11 -8.84 2.55
2014-06-30 17.05 -6.05 2.23
2014-03-31 12.11 -2.74 1.87
2013-12-31 11.97 -2.79 1.79
2013-09-30 10.43 -0.07 1.86
2013-06-30 8.52 -2.16 1.82
2013-03-31 8.07 3.14 2.04
2012-12-31 2.58 4.63 1.72
2012-09-30 1.07 2.36 1.53
2012-06-30 0.08 3.26 1.61

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Bluerock Residential Growth REIT has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • Bluerock Residential Growth REIT used its assets less efficiently than the US REITs industry average last year based on Return on Assets.
  • It is difficult to establish if Bluerock Residential Growth REIT improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Bluerock Residential Growth REIT's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the REITs industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Bluerock Residential Growth REIT has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Bluerock Residential Growth REIT's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Bluerock Residential Growth REIT's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Bluerock Residential Growth REIT is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Bluerock Residential Growth REIT's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Bluerock Residential Growth REIT's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.2x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Bluerock Residential Growth REIT Company Filings, last reported 1 month ago.

AMEX:BRG.PRC Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 690.77 1,282.91 25.25
2018-12-31 683.82 1,288.35 27.37
2018-09-30 661.39 1,170.04 29.46
2018-06-30 652.99 1,144.01 25.41
2018-03-31 648.79 1,077.64 31.51
2017-12-31 642.92 1,007.16 35.02
2017-09-30 647.87 847.16 134.63
2017-06-30 627.61 775.59 139.29
2017-03-31 567.37 750.81 109.97
2016-12-31 505.91 710.58 82.05
2016-09-30 414.88 525.04 130.52
2016-06-30 360.59 479.96 91.11
2016-03-31 299.69 476.71 24.02
2015-12-31 306.88 380.10 68.96
2015-09-30 246.29 312.77 64.93
2015-06-30 249.99 255.24 95.43
2015-03-31 185.83 255.06 66.49
2014-12-31 126.01 212.84 23.06
2014-09-30 100.66 226.81 7.61
2014-06-30 128.70 214.78 34.42
2014-03-31 40.68 107.88 3.13
2013-12-31 46.08 104.11 2.98
2013-09-30 47.57 96.67 2.35
2013-06-30 40.17 111.49 1.73
2013-03-31 42.15 108.99 2.28
2012-12-31 43.11 108.04 2.79
2012-09-30 19.78 41.24 3.85
2012-06-30 18.84 41.48 3.72
  • Bluerock Residential Growth REIT's level of debt (185.7%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (261.9% vs 185.7% today).
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

  • Whilst loss making Bluerock Residential Growth REIT has sufficient cash runway for more than 3 years if it maintains the current positive free cash flow level.
  • Whilst loss making Bluerock Residential Growth REIT has sufficient cash runway for more than 3 years, even with free cash flow being positive and shrinking by -27.8% per year.
X
Financial health checks
We assess Bluerock Residential Growth REIT's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Bluerock Residential Growth REIT has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Bluerock Residential Growth REIT's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
5.71%
Current annual income from Bluerock Residential Growth REIT dividends. Estimated to be 5.71% next year.
If you bought $2,000 of Bluerock Residential Growth REIT shares you are expected to receive $114 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Bluerock Residential Growth REIT's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.45%).
  • Bluerock Residential Growth REIT's dividend is above the markets top 25% of dividend payers in United States of America (3.7%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
AMEX:BRG.PRC Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
United States of America REITs Industry Average Dividend Yield Market Cap Weighted Average of 184 Stocks 3.9%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2005 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

AMEX:BRG.PRC Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31
2020-12-31 0.65 6.00
2019-12-31 0.65 7.00
AMEX:BRG.PRC Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-05-09 0.650 5.838
2019-05-07 0.650 5.893
2018-12-07 0.650 6.245
2018-09-07 0.650 6.970
2018-08-08 0.650 6.669
2018-08-07 0.650 6.886
2018-02-14 0.650 7.473
2017-10-13 1.160 11.600
2017-08-10 1.160 11.004
2017-07-11 1.160 9.138
2017-04-10 1.160 9.102
2017-01-09 1.160 9.181
2016-10-06 1.160 9.032
2016-07-11 1.160 8.750
2016-04-08 1.160 9.853
2016-01-15 1.160 11.254
2015-10-12 1.160 10.038
2015-07-13 1.160 9.735
2015-04-13 1.160 8.705
2015-04-07 1.160 8.626
2015-03-06 1.160 8.737
2014-11-04 1.160 8.907
2014-10-03 1.160 9.502
2014-09-29 1.160 9.325
2014-08-13 1.160 8.832
2014-05-15 1.160 8.978

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Bluerock Residential Growth REIT has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Bluerock Residential Growth REIT has only been paying a dividend for 5 years, and since then dividends per share have fallen.
Current Payout to shareholders
What portion of Bluerock Residential Growth REIT's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Bluerock Residential Growth REIT's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Bluerock Residential Growth REIT afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Bluerock Residential Growth REIT has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Bluerock Residential Growth REIT's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
R. Kamfar
COMPENSATION $4,368,912
AGE 55
TENURE AS CEO 10.8 years
CEO Bio

Mr. R. Ramin Kamfar serves as the Chief Executive Officer at Bluerock Enhanced Multifamily Advisor, LLC since October 31, 2013. Previously, Mr. Kamfar served as the Chief Executive Officer at Bluerock Enhanced Multifamily Advisor, LLC/Bluerock Multifamily Advisor, LLC from August 2008 to February 26, 2013. Mr. Kamfar has also served as the Chairman and Chief Executive Officer at Bluerock Real Estate, LLC since October 2002. He has been the Chief Executive Officer and Chairman of Bluerock Residential Growth REIT, Inc. since October 31, 2013 and August 2008 respectively. He was the President at Bluerock Residential Growth REIT, Inc from August 2008 to October 2017. He founded Bluerock Residential Growth REIT in October 2002. Mr. Kamfar has approximately 30 years of experience in various aspects of real estate, mergers and acquisitions, private equity investing, investment banking, and public and private financings. Previously, Mr. Kamfar was Managing Partner at New World Venture Partners, Inc. He served as the Chief Executive Officer at Manhattan Bagel Company. Prior to this, he founded and served as Chairman and Chief Executive Officer at New World Restaurant Group, Inc. From 1988 to 1993, he was an Investment Banker at Lehman Brothers Inc., where he specialized in mergers and acquisitions and corporate finance. From 1993 to 2002, he executed a growth/consolidation strategy to build a startup into a leading public company in the ‘fast casual’ market now known as Einstein Noah Restaurant Group, Inc. In addition, Mr. Kamfar has served as Chairman of the Board of Trustees and as a Trustee of Total Income (plus) Real Estate Fund since 2012. From 1999 to 2002, Mr. Kamfar served as an active investor, advisor and member of the Board of Directors of Vsource, Inc., a technology company subsequently sold to Symphony House, a leading business process outsourcing company focused on the Fortune Global 500. He received an M.B.A. degree with distinction in Finance in 1988 from The Wharton School of the University of Pennsylvania, Philadelphia, Pennsylvania and a B.S. degree with distinction in Finance in 1985 from the University of Maryland located in College Park, Maryland.

CEO Compensation
  • R.'s compensation has increased whilst company is loss making.
  • R.'s remuneration is higher than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Bluerock Residential Growth REIT management team in years:

4
Average Tenure
55
Average Age
  • The tenure for the Bluerock Residential Growth REIT management team is about average.
Management Team

R. Kamfar

TITLE
Chairman & CEO
COMPENSATION
$4M
AGE
55
TENURE
10.8 yrs

Jordan Ruddy

TITLE
President & COO
COMPENSATION
$2M
AGE
55
TENURE
1.6 yrs

Christopher Vohs

TITLE
CFO & Treasurer
COMPENSATION
$865K
AGE
42
TENURE
6.3 yrs

James Babb

TITLE
Chief Investment Officer
COMPENSATION
$2M
AGE
53

Michael Konig

TITLE
Chief Legal Officer & Secretary
COMPENSATION
$2M
AGE
58
TENURE
14.4 yrs

Josh Hoffman

TITLE
Senior Vice President of Operations

Mike DiFranco

TITLE
Executive Vice President of Operations
AGE
53
TENURE
0.1 yrs

Gary Kachadurian

TITLE
AGE
68
TENURE
0.8 yrs
Board of Directors Tenure

Average tenure and age of the Bluerock Residential Growth REIT board of directors in years:

10.3
Average Tenure
53
Average Age
  • The average tenure for the Bluerock Residential Growth REIT board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

R. Kamfar

TITLE
Chairman & CEO
COMPENSATION
$4M
AGE
55
TENURE
10.8 yrs

I. Majumder

TITLE
Lead Independent Director
COMPENSATION
$152K
AGE
50
TENURE
2 yrs

Brian Bailey

TITLE
Independent Director
COMPENSATION
$137K
AGE
51
TENURE
10.3 yrs

Romano Tio

TITLE
Independent Director
COMPENSATION
$134K
AGE
58
TENURE
10.3 yrs

Elizabeth Harrison

TITLE
Independent Director
COMPENSATION
$55K
AGE
53
TENURE
0.8 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
X
Management checks
We assess Bluerock Residential Growth REIT's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Bluerock Residential Growth REIT has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

Bluerock Residential Growth REIT, Inc. (NYSE American: BRG) is a real estate investment trust that focuses on developing and acquiring a diversified portfolio of institutional-quality highly amenitized live/work/play apartment communities in demographically attractive knowledge economy growth markets to appeal to the renter by choice. The Company's objective is to generate value through off-market/relationship-based transactions and, at the asset level, through value add improvements to properties and operations. The Company is included in the Russell 2000 and Russell 3000 Indexes. BRG has elected to be taxed as a real estate investment trust (REIT) for U.S. federal income tax purposes.

Details
Name: Bluerock Residential Growth REIT, Inc.
BRG.PRC
Exchange: AMEX
Founded:
$329,118,589
$256,449,164
28,920,790
Website: http://www.bluerockresidential.com
Address: Bluerock Residential Growth REIT, Inc.
712 Fifth Avenue,
9th Floor,
New York,
New York, 10019,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
AMEX BRG Class A Common Stock NYSE MKT LLC US USD 28. Mar 2014
DB BKO Class A Common Stock Deutsche Boerse AG DE EUR 28. Mar 2014
AMEX BRG.PRA RED PFD SER A NYSE MKT LLC US USD 21. Oct 2015
AMEX BRG.PRC PFD SER C NYSE MKT LLC US USD 14. Jul 2016
AMEX BRG.PRD PFD SER D NYSE MKT LLC US USD 07. Oct 2016
Number of employees
Current staff
Staff numbers
0
Bluerock Residential Growth REIT employees.
Industry
Residential REITs
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/23 06:36
End of day share price update: 2019/05/22 00:00
Last estimates confirmation: 2019/05/16
Last earnings filing: 2019/05/09
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.