Bluerock Residential Growth REIT
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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 Share Price and Events
7 Day Returns
1 Year Returns
BRG Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| Bluerock Residential Growth REIT (BRG) | 1.1% | 2.2% | 6.8% | 28.3% | -3.1% | -12.5% |
| 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 outperformed the REITs industry which returned 13.3% over the past year.
- BRG outperformed the Market in United States of America which returned 2.9% over the past year.
BRG Value
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.
Below are the data sources, inputs and calculation used to determine the intrinsic value for Bluerock Residential Growth REIT.
| 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.
| 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 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.
| 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 | ||
| 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 |
| 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 |
$8.38 |
| Calculation | Result | |
|---|---|---|
| Value per share (USD) | From above. | $8.38 |
| Current discount | Discount to share price of
$11.38
= -1 x ($11.38 - $8.38) / $8.38 |
-35.8% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
- The current share price of Bluerock Residential Growth REIT is above its future cash flow value.
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?
| 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.
| 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?
| 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?
| 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 |
| 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.
Value checks
We assess Bluerock Residential Growth REIT's value by looking at:- 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. )
- Is the PE ratio less than the market average, and/ or less than the REITs industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the REITs industry average (and greater than 0)? (1 check) Bluerock Residential Growth REIT has a total score of 0/6, 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.
BRG Future Performance
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!
Earnings growth vs Low Risk Savings
- 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
| Data Point | Source | Value (per year) |
|---|---|---|
| AMEX:BRG Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts | -11.8% |
| AMEX:BRG 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
| 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 |
| 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 |
| 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.
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.
| 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 |
| 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.
Future performance checks
We assess Bluerock Residential Growth REIT's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
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.
BRG 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
Past Earnings growth analysis
- 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
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.
| 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.
Past performance checks
We assess Bluerock Residential Growth REIT's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the REITs industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
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.
BRG 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.
- 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
Assets
Liabilities and shares
- 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.
All data from Bluerock Residential Growth REIT Company Filings, last reported 1 month ago.
| 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.
Financial health checks
We assess Bluerock Residential Growth REIT's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) Bluerock Residential Growth REIT has a total score of 4/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- 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.
BRG Dividends
Dividends are regular cash payments to you from the company, similar to a
bank paying you interest on a savings account.
Annual Dividend Income
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
- 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.
| 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.
| 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 |
| 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.
Income/ dividend checks
We assess Bluerock Residential Growth REIT's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- 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) 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.
BRG Management
CEO
| 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:
- The tenure for the Bluerock Residential Growth REIT management team is about average.
Management Team
R. Kamfar
Chairman & CEO
$4M
55
10.8 yrs
Jordan Ruddy
President & COO
$2M
55
1.6 yrs
Christopher Vohs
CFO & Treasurer
$865K
42
6.3 yrs
James Babb
Chief Investment Officer
$2M
53
Michael Konig
Chief Legal Officer & Secretary
$2M
58
14.4 yrs
Josh Hoffman
Senior Vice President of Operations
Mike DiFranco
Executive Vice President of Operations
53
0.1 yrs
Gary Kachadurian
68
0.8 yrs
Board of Directors Tenure
Average tenure and age of the Bluerock Residential Growth REIT board of directors in years:
- 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
Chairman & CEO
$4M
55
10.8 yrs
I. Majumder
Lead Independent Director
$152K
50
2 yrs
Brian Bailey
Independent Director
$137K
51
10.3 yrs
Romano Tio
Independent Director
$134K
58
10.3 yrs
Elizabeth Harrison
Independent Director
$55K
53
0.8 yrs
Who owns this company?
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price ($) | Value ($) | |
|---|---|---|---|---|---|---|---|---|---|---|
| 29. Oct 18 | Buy | Harbert Fund Advisors Inc. | Company | 31. Aug 18 | 29. Oct 18 | 265,972 | $9.94 | $2,643,762 | ||
| 08. May 19 | Sell | Harbert Fund Advisors Inc. | Company | 19. Mar 19 | 08. May 19 | -457,276 | $11.51 | $-5,263,155 | ||
| 18. Mar 19 | Buy | Harbert Fund Advisors Inc. | Company | 20. Nov 18 | 20. Nov 18 | 55,000 | $8.59 | $466,229 | ||
| 18. Mar 19 | Sell | Harbert Fund Advisors Inc. | Company | 25. Feb 19 | 15. Mar 19 | -120,743 | $10.86 | $-1,303,757 | ||
| 23. Aug 18 | Buy | R. Kamfar | Individual | 22. Aug 18 | 22. Aug 18 | 1,386 | $21.56 | $29,882 | ||
Management checks
We assess Bluerock Residential Growth REIT's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) 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.
BRG News
Simply Wall St News
Are Dividend Investors Making A Mistake With Bluerock Residential Growth REIT, Inc. (NYSEMKT:BRG)?
Today we'll take a closer look at Bluerock Residential Growth REIT, Inc. … In this case, Bluerock Residential Growth REIT likely looks attractive to dividend investors, given its 5.9% dividend yield and five-year payment history. … There are a few simple ways to reduce the risks of buying Bluerock Residential Growth REIT for its dividend, and we'll go through these below.
Simply Wall St - – Full articleHow Many Bluerock Residential Growth REIT, Inc. (NYSEMKT:BRG) Shares Do Institutions Own?
If you want to know who really controls Bluerock Residential Growth REIT, Inc. … Institutions will often hold stock in bigger companies, and we expect to see insiders owning a noticeable percentage of the smaller ones. … Bluerock Residential Growth REIT is a smaller company with a market capitalization of US$327m, so it may still be flying under the radar of many institutional investors.
Simply Wall St - – Full articleDid Bluerock Residential Growth REIT's (NYSEMKT:BRG) Share Price Deserve to Gain 27%?
To wit, the Bluerock Residential Growth REIT, Inc. … Because Bluerock Residential Growth REIT is loss-making, we think the market is probably more focussed on revenue and revenue growth, at least for now. … In the last year Bluerock Residential Growth REIT saw its revenue grow by 46%.
Simply Wall St - – Full articleRead This Before Selling Bluerock Residential Growth REIT, Inc. (NYSEMKT:BRG) Shares
We often see insiders buying up shares in companies that perform well over the long term. … So shareholders might well want to know whether insiders have been buying or selling shares in Bluerock Residential Growth REIT, Inc. … The Last 12 Months Of Insider Transactions At Bluerock Residential Growth REIT.
Simply Wall St - – Full articleInvesting In Property Through Bluerock Residential Growth REIT, Inc. (NYSEMKT:BRG)
Bluerock Residential Growth REIT, Inc. … REIT shares give you ownership of the company than owns and manages various income-producing property, whether it be commercial, industrial or residential. … View our latest analysis for Bluerock Residential Growth REIT.
Simply Wall St - – Full articleWhat Kind Of Investor Owns Most Of Bluerock Residential Growth REIT, Inc. (NYSEMKT:BRG)?
The big shareholder groups in Bluerock Residential Growth REIT, Inc. … Insiders often own a large chunk of younger, smaller, companies while huge companies tend to have institutions as shareholders. … Bluerock Residential Growth REIT is not a large company by global standards.
Simply Wall St - – Full articleHow Should Investors React To Bluerock Residential Growth REIT Inc's (NYSEMKT:BRG) CEO Pay?
First, this article will compare CEO compensation with compensation at similar sized companies. … Kamfar's Compensation Compare With Similar Sized Companies. … At the time of writing our data says that Bluerock Residential Growth REIT Inc has a market cap of US$272m, and is paying total annual CEO compensation of US$400k?
Simply Wall St - – Full articleDo Institutions Own Shares In Bluerock Residential Growth REIT Inc (NYSEMKT:BRG)?
Today, I will be analyzing Bluerock Residential Growth REIT Inc’s (NYSEMKT:BRG) recent ownership structure, an important but not-so-popular subject among individual investors. … Ownership structure has been found to have an impact on shareholder returns in both short- and long-term. … Check out our latest analysis for Bluerock Residential Growth REIT
Simply Wall St - – Full articleBluerock Residential Growth REIT Inc (NYSEMKT:BRG): What You Have To Know Before Buying For The Upcoming Dividend
On the 05 July 2018, Bluerock Residential Growth REIT Inc (NYSEMKT:BRG) will be paying shareholders an upcoming dividend amount of US$0.16 per share. … Below, I will explain how holding Bluerock Residential Growth REIT can impact your portfolio income stream, by analysing the stock's most recent financial data and dividend attributes. … View out our latest analysis for Bluerock Residential Growth REIT
Simply Wall St - – Full articleOne Metric To Rule Them All: Bluerock Residential Growth REIT Inc (NYSEMKT:BRG)
Check out our latest analysis for Bluerock Residential Growth REIT Funds from Operations (FFO) is a higher quality measure of BRG's earnings compared to net income. … Instead of the P/E ratio, P/FFO is used instead, which is very common for REIT stocks. … Bluerock Residential Growth REIT can bring about diversification for your portfolio, but before you decide to invest, take a look at the other aspects you must consider before investing: Future Outlook: What are well-informed industry analysts predicting for BRG’s future growth?
Simply Wall St - – Full articleBRG 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 | |
| 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.PRD | PFD SER D | NYSE MKT LLC | US | USD | 07. Oct 2016 | |
| AMEX | BRG.PRC | PFD SER C | NYSE MKT LLC | US | USD | 14. Jul 2016 | |
| AMEX | BRG.PRA | RED PFD SER A | NYSE MKT LLC | US | USD | 21. Oct 2015 |
Number of employees
Current staff
Industry
| Residential REITs | |
| Real Estate |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/05/23 06:25 |
| 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.
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