Bluerock Residential Growth REIT
Market Cap
US$351.6m
Last Updated
2020/01/23 00:56 UTC
Data Sources
Company Financials +
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.
Rewards
Risk Analysis
Earnings are forecast to decline by an average of -50.7% per year for the next 3 years
Dividend of 5.44% is not well covered by earnings or forecast to be in the next 3 years
Currently unprofitable and not forecast to become profitable over the next 3 years
Snowflake Analysis
Unattractive dividend payer and overvalued.
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 has not had significant price volatility in the past 3 months.
Market Performance
7 Day Return
-2.1%
BRG
0.9%
US REITs
0.6%
US Market
1 Year Return
13.7%
BRG
18.9%
US REITs
24.6%
US Market
Return vs Industry: BRG underperformed the US REITs industry which returned 18.4% over the past year.
Return vs Market: BRG underperformed the US Market which returned 24.7% over the past year.
Shareholder returns
| BRG | Industry | Market | |
|---|---|---|---|
| 7 Day | -2.1% | 0.9% | 0.6% |
| 30 Day | 1.1% | 3.9% | 3.0% |
| 90 Day | 0.4% | 0.1% | 10.6% |
| 1 Year | 20.4%13.7% | 23.8%18.9% | 27.3%24.6% |
| 3 Year | 13.0%-9.1% | 35.5%18.4% | 50.5%40.8% |
| 5 Year | 32.3%-12.0% | 46.8%16.5% | 78.9%59.1% |
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
2 months ago | Simply Wall St
Is Bluerock Residential Growth REIT, Inc.'s (NYSEMKT:BRG) CEO Pay Justified?3 months ago | Simply Wall St
Do Institutions Own Shares In Bluerock Residential Growth REIT, Inc. (NYSEMKT:BRG)?Valuation
Is Bluerock Residential Growth REIT undervalued compared to its fair value and its price relative to the market?
1.9%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: BRG ($11.93) is trading below our estimate of fair value ($12.16)
Significantly Below Fair Value: BRG is trading below fair value, but not by a significant amount.
Price To Earnings Ratio
PE vs Industry: BRG is unprofitable, so we can't compare its PE Ratio to the REITs industry average.
PE vs Market: BRG 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's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: BRG is overvalued based on its PB Ratio (4.2x) compared to the US REITs industry average (2x).
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?
-50.7%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: BRG is forecast to remain unprofitable over the next 3 years.
Earnings vs Market: BRG is forecast to remain unprofitable over the next 3 years.
High Growth Earnings: BRG is forecast to remain unprofitable over the next 3 years.
Revenue vs Market: BRG's revenue (9.7% per year) is forecast to grow faster than the US market (7.5% per year).
High Growth Revenue: BRG's revenue (9.7% 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'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?
-49.1%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: BRG is currently unprofitable.
Growing Profit Margin: BRG is currently unprofitable.
Past Earnings Growth Analysis
Earnings Trend: BRG is unprofitable, and losses have increased over the past 5 years at a rate of -49.1% per year.
Accelerating Growth: Unable to compare BRG's earnings growth over the past year to its 5-year average as it is currently unprofitable
Earnings vs Industry: BRG is unprofitable, making it difficult to compare its past year earnings growth to the REITs industry (8.1%).
Return on Equity
High ROE: BRG has a negative Return on Equity (3.32%), as it is currently unprofitable.
Return on Assets
Return on Capital Employed
Next Steps
Financial Health
How is Bluerock Residential Growth REIT's financial position? (This company is analysed differently as a bank or financial institution)
Financial Position Analysis
Debt to Equity History and Analysis
Balance Sheet
Inventory Level: BRG has a high level of physical assets or inventory.
Debt Coverage by Assets: BRG's debt is not covered by short term assets (assets are 0.2x debt).
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 has sufficient cash runway for more than 3 years if it maintains its current positive free cash flow level.
Forecast Cash Runway: BRG is unprofitable but has sufficient cash runway for more than 3 years, due to free cash flow being positive and growing by 40.4% per year.
Financial Institutions Analysis
Asset Level: BRG's level of assets compared to its equity is low.
Allowance for Bad Loans: Insufficient data to determine if BRG has a sufficient allowance for bad loans.
Low Risk Liabilities: BRG reports no customer deposits, loans are made up entirely of externally borrowed funds.
Loan Level: Insufficient data to determine if BRG has an acceptable proportion of non-loan assets held.
Low Risk Deposits: BRG has advanced significantly more loans than the customer deposits it holds.
Level of Bad Loans: Insufficient data to determine if BRG has an appropriate level of bad loans.
Next Steps
Dividend
What is Bluerock Residential Growth REIT's current dividend yield, its reliability and sustainability?
5.45%
Current Dividend Yield
Dividend Yield vs Market
Current dividend yield vs market & industry
Notable Dividend: BRG's dividend (5.44%) is higher than the bottom 25% of dividend payers in the US market (1.4%).
High Dividend: BRG's dividend (5.44%) is in the top 25% of dividend payers in the US market (3.66%)
Stability and Growth of Payments
Stable Dividend: BRG has been paying a dividend for less than 10 years and during this time payments have been volatile.
Growing Dividend: BRG has only been paying a dividend for 6 years, and since then payments have fallen.
Current Payout to Shareholders
Dividend Coverage: BRG is paying a dividend but the company is unprofitable.
Future Payout to Shareholders
Future Dividend Coverage: BRG 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
What is the CEO of Bluerock Residential Growth REIT's salary, the management and board of directors tenure and is there insider trading?
4.6yrs
Average management tenure
CEO
R. Kamfar (56yo)
11.4yrs
Tenure
US$4,754,112
Compensation
Mr. R. Ramin Kamfar serves as the Chief Executive Officer at Bluerock Enhanced Multifamily Advisor, LLC since October 31, 2013. Previously, Mr. Kamfar served as the Chief Executive Officer at Bluerock Enh ...
CEO Compensation Analysis
Compensation vs Market: R.'s total compensation ($USD4.75M) is above average for companies of similar size in the US market ($USD1.70M).
Compensation vs Earnings: R.'s compensation has increased whilst the company is unprofitable.
Management Age and Tenure
4.6yrs
Average Tenure
55yo
Average Age
Experienced Management: BRG's management team is considered experienced (4.6 years average tenure).
Board Age and Tenure
2.7yrs
Average Tenure
54yo
Average Age
Experienced Board: BRG's board of directors are not considered experienced ( 2.7 years average tenure), which suggests a new board.
Insider Trading
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
| Entity | Company |
| Shares | 457,276 |
| Max Price | US$11.51 |
| Entity | Company |
| Shares | 120,743 |
| Max Price | US$10.86 |
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Management Team
Brian Bailey (52yo)
- Compensation: US$137.00k
R. Kamfar (56yo)
Chairman & CEO
- Tenure: 11.4yrs
- Compensation: US$4.75m
Michael Konig (59yo)
Chief Legal Officer & Secretary
- Tenure: 15.1yrs
- Compensation: US$2.32m
Gary Kachadurian (69yo)
- Tenure: 1.5yrs
James Babb (54yo)
Chief Investment Officer
- Compensation: US$2.37m
Jordan Ruddy (56yo)
President & COO
- Tenure: 2.3yrs
- Compensation: US$2.32m
Josh Hoffman
Senior Vice President of Operations
Christopher Vohs (43yo)
CFO & Treasurer
- Tenure: 7yrs
- Compensation: US$985.25k
Mike DiFranco (54yo)
Executive Vice President of Operations
- Tenure: 0.8yrs
- Compensation: US$286.85k
Board Members
R. Kamfar (56yo)
Chairman & CEO
- Tenure: 11.4yrs
- Compensation: US$4.75m
Elizabeth Harrison (54yo)
Independent Director
- Tenure: 1.5yrs
- Compensation: US$55.00k
I. Majumder (51yo)
Lead Independent Director
- Tenure: 2.7yrs
- Compensation: US$152.00k
Romano Tio (59yo)
Independent Director
- Tenure: 11yrs
- Compensation: US$134.00k
Kamal Jafarnia (52yo)
Independent Director
- Tenure: 0.6yrs
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
- Exchange: AMEX
- Founded:
- Industry: Residential REITs
- Sector: Real Estate
- Implied Market Cap: US$351.562m
- Market Cap: US$268.178m
- Shares outstanding: 28.86m
- 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
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| BRG | AMEX (NYSE MKT LLC) | Yes | Class A Common Stock | US | USD | Mar 2014 |
| BKO | DB (Deutsche Boerse AG) | Yes | Class A Common Stock | DE | EUR | Mar 2014 |
| BRG.PRA | AMEX (NYSE MKT LLC) | RED PFD SER A | US | USD | Oct 2015 | |
| BRG.PRC | AMEX (NYSE MKT LLC) | PFD SER C | US | USD | Jul 2016 | |
| BRG.PRD | AMEX (NYSE MKT LLC) | PFD SER D | US | USD | Oct 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.Â
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/01/23 00:56 |
| End of Day Share Price | 2020/01/22 00:00 |
| Earnings | 2019/09/30 |
| Annual Earnings | 2018/12/31 |
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.