AMEX:BRG.PRC

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Bluerock Residential Growth REIT

Executive Summary

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.


Snowflake Analysis

Mediocre balance sheet unattractive dividend payer.


Similar Companies

Share Price & News

How has Bluerock Residential Growth REIT's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: BRG.PRC's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

4.1%

BRG.PRC

6.6%

US REITs

3.8%

US Market


1 Year Return

-8.7%

BRG.PRC

-5.9%

US REITs

9.7%

US Market

Return vs Industry: BRG.PRC underperformed the US REITs industry which returned -7.2% over the past year.

Return vs Market: BRG.PRC underperformed the US Market which returned 8.9% over the past year.


Shareholder returns

BRG.PRCIndustryMarket
7 Day4.1%6.6%3.8%
30 Day19.8%13.4%11.4%
90 Day-6.4%-8.2%6.8%
1 Year-0.08%-8.7%-2.0%-5.9%12.1%9.7%
3 Year16.5%-8.5%18.5%3.9%36.2%27.2%
5 Yearn/a50.1%19.4%63.7%45.4%

Price Volatility Vs. Market

How volatile is Bluerock Residential Growth REIT's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Bluerock Residential Growth REIT undervalued compared to its fair value and its price relative to the market?

4.4x

Price to Book (PB) ratio


Share Price vs. Fair Value

Below Fair Value: BRG.PRC ($23.62) is trading above our estimate of fair value ($22.41)

Significantly Below Fair Value: BRG.PRC is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: BRG.PRC is unprofitable, so we can't compare its PE Ratio to the REITs industry average.

PE vs Market: BRG.PRC is unprofitable, so we can't compare its PE Ratio to the US market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate BRG.PRC's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: BRG.PRC is overvalued based on its PB Ratio (3.9x) compared to the US REITs industry average (1.5x).


Next Steps

Future Growth

How is Bluerock Residential Growth REIT forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

-21.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: BRG.PRC is forecast to remain unprofitable over the next 3 years.

Earnings vs Market: BRG.PRC is forecast to remain unprofitable over the next 3 years.

High Growth Earnings: BRG.PRC is forecast to remain unprofitable over the next 3 years.

Revenue vs Market: BRG.PRC's revenue (4.3% per year) is forecast to grow slower than the US market (8.8% per year).

High Growth Revenue: BRG.PRC's revenue (4.3% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if BRG.PRC's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

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

-38.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: BRG.PRC is currently unprofitable.

Growing Profit Margin: BRG.PRC is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: BRG.PRC is unprofitable, and losses have increased over the past 5 years at a rate of -38.7% per year.

Accelerating Growth: Unable to compare BRG.PRC's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: BRG.PRC is unprofitable, making it difficult to compare its past year earnings growth to the REITs industry (5.2%).


Return on Equity

High ROE: BRG.PRC has a negative Return on Equity (3.25%), as it is currently unprofitable.


Next Steps

Financial Health

How is Bluerock Residential Growth REIT's financial position?


Financial Position Analysis

Short Term Liabilities: BRG.PRC's short term assets ($382.1M) exceed its short term liabilities ($171.4M).

Long Term Liabilities: BRG.PRC's short term assets ($382.1M) do not cover its long term liabilities ($1.4B).


Debt to Equity History and Analysis

Debt Level: BRG.PRC's debt to equity ratio (171.9%) is considered high.

Reducing Debt: BRG.PRC's debt to equity ratio has increased from 136.2% to 171.9% over the past 5 years.


Balance Sheet


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.

Stable Cash Runway: Whilst unprofitable BRG.PRC has sufficient cash runway for more than 3 years if it maintains its current positive free cash flow level.

Forecast Cash Runway: BRG.PRC is unprofitable but has sufficient cash runway for more than 3 years, due to free cash flow being positive and growing by 43.3% per year.


Next Steps

Dividend

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

7.81%

Current Dividend Yield


Upcoming Dividend Payment


Dividend Yield vs Market

Notable Dividend: BRG.PRC's dividend (8.71%) is higher than the bottom 25% of dividend payers in the US market (1.62%).

High Dividend: BRG.PRC's dividend (8.71%) is in the top 25% of dividend payers in the US market (4.32%)


Stability and Growth of Payments

Stable Dividend: BRG.PRC has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: BRG.PRC has only been paying a dividend for 6 years, and since then payments have fallen.


Current Payout to Shareholders

Dividend Coverage: BRG.PRC is paying a dividend but the company is unprofitable.


Future Payout to Shareholders

Future Dividend Coverage: BRG.PRC is forecast to pay a dividend in 3 years whilst incurring a loss, therefore the dividend is not forecast to be well covered.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

5.0yrs

Average management tenure


CEO

R. Kamfar (56yo)

11.83yrs

Tenure

US$2,119,492

Compensation

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 Enh ...


CEO Compensation Analysis

Compensation vs Market: R.'s total compensation ($USD2.12M) is above average for companies of similar size in the US market ($USD1.33M).

Compensation vs Earnings: R.'s compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
R. Kamfar
Chairman & CEO11.83yrsUS$2.12m0.24% $560.0k
Jordan Ruddy
President & COO2.67yrsUS$928.51k0.096% $218.9k
Christopher Vohs
CFO & Treasurer7.42yrsUS$436.78k0.011% $24.3k
James Babb
Chief Investment Officerno dataUS$953.51k0.084% $192.2k
Michael Konig
Chief Legal Officer & Secretary15.5yrsUS$928.51k0.12% $270.1k
Ryan MacDonald
Chief Acquisitions Officerno dataUS$928.51k0.029% $67.3k
Josh Hoffman
Senior Vice President of Operationsno datano datano data
Brian Bailey
no dataUS$137.00k0.073% $167.4k
Michael DiFranco
Executive Vice President of Operations1.17yrsUS$286.85k0.0031% $7.1k
Gary Kachadurian
1.92yrsno datano data

5.0yrs

Average Tenure

54yo

Average Age

Experienced Management: BRG.PRC's management team is seasoned and experienced (5 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
R. Kamfar
Chairman & CEO11.83yrsUS$2.12m0.24% $560.0k
Elizabeth Harrison
Independent Director1.92yrsUS$115.00kno data
I. Majumder
Lead Independent Director3.08yrsUS$160.00k0.059% $134.0k
Romano Tio
Independent Director11.42yrsUS$138.00k0.11% $256.7k
Kamal Jafarnia
Independent Director1yrUS$64.00kno data

3.1yrs

Average Tenure

54yo

Average Age

Experienced Board: BRG.PRC's board of directors are considered experienced (3.1 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: BRG.PRC insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 6%.


Top Shareholders

Company Information

Bluerock Residential Growth REIT, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Bluerock Residential Growth REIT, Inc.
  • Ticker: BRG.PRC
  • Exchange: AMEX
  • Founded:
  • Industry: Residential REITs
  • Sector: Real Estate
  • Implied Market Cap: US$228.785m
  • Market Cap: US$202.041m
  • Shares outstanding: 30.67m
  • Website: https://www.bluerockresidential.com

Location

  • Bluerock Residential Growth REIT, Inc.
  • 1345 Avenue of the Americas
  • 32nd Floor
  • New York
  • New York
  • 10105
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
BRGAMEX (NYSE MKT LLC)YesClass A Common StockUSUSDMar 2014
BKODB (Deutsche Boerse AG)YesClass A Common StockDEEURMar 2014
BRG.PRAAMEX (NYSE MKT LLC)RED PFD SER AUSUSDOct 2015
BRG.PRCAMEX (NYSE MKT LLC)PFD SER CUSUSDJul 2016
BRG.PRDAMEX (NYSE MKT LLC)PFD SER DUSUSDOct 2016

Biography

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. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/06/06 05:59
End of Day Share Price2020/06/05 00:00
Earnings2020/03/31
Annual Earnings2019/12/31


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.