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Bluerock Residential Growth REIT Management

Management criteria checks 4/4

Key information

Robert Kamfar

Chief executive officer

US$3.3m

Total compensation

CEO salary percentage	18.0%
CEO tenure	14.2yrs
CEO ownership	0.2%
Management average tenure	5yrs
Board average tenure	13.8yrs

Recent management updates

Recent updates

Shareholders Of Bluerock Residential Growth REIT (NYSEMKT:BRG) Must Be Happy With Their 90% Return

Feb 06

CEO Compensation Analysis

How has Robert Kamfar's remuneration changed compared to Bluerock Residential Growth REIT's earnings?
Date	Total Compensation	Salary	Company Earnings
Jun 30 2022	n/a	n/a	-US$49m
Mar 31 2022	n/a	n/a	-US$37m
Dec 31 2021	US$3m	US$600k	US$2m
Sep 30 2021	n/a	n/a	US$3m
Jun 30 2021	n/a	n/a	-US$27m
Mar 31 2021	n/a	n/a	-US$6m
Dec 31 2020	US$3m	US$400k	-US$46m
Sep 30 2020	n/a	n/a	-US$34m
Jun 30 2020	n/a	n/a	US$795k
Mar 31 2020	n/a	n/a	-US$25m
Dec 31 2019	US$2m	US$400k	-US$21m
Sep 30 2019	n/a	n/a	-US$20m
Jun 30 2019	n/a	n/a	-US$47m
Mar 31 2019	n/a	n/a	-US$46m
Dec 31 2018	US$4m	US$400k	-US$43m
Sep 30 2018	n/a	n/a	-US$77m
Jun 30 2018	n/a	n/a	-US$78m
Mar 31 2018	n/a	n/a	-US$50m
Dec 31 2017	US$133k	US$67k	-US$46m

Compensation vs Market: Robert's total compensation ($USD3.33M) is about average for companies of similar size in the US market ($USD3.98M).

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

CEO

Robert Kamfar (59 yo)

14.2yrs

Tenure

US$3,333,864

Compensation

Mr. Robert 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...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Robert Kamfar	Chairman & CEO	14.2yrs	US$3.33m	0.16% $ 1.7m
Jordan Ruddy	President & COO	5yrs	US$1.18m	0.076% $ 843.0k
Christopher Vohs	CFO & Treasurer	12.3yrs	US$475.27k	0.0084% $ 93.4k
Ryan MacDonald	Chief Investment Officer	1.8yrs	US$1.43m	0.0089% $ 99.1k
Michael Konig	Chief Legal Officer & Secretary	17.8yrs	US$1.06m	3.07% $ 34.0m
James Babb	Chief Strategy Officer	no data	US$842.48k	0.075% $ 830.8k
Josh Hoffman	Senior Vice President of Operations	no data	no data	no data
Brian Bailey		no data	US$137.00k	no data
Michael DiFranco	Executive Vice President of Operations	3.5yrs	US$286.85k	0.011% $ 117.9k
Gary Kachadurian		no data	no data	no data

5.0yrs

Average Tenure

57yo

Average Age

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

Board Members

Name	Position	Tenure	Compensation	Ownership
Robert Kamfar	Chairman & CEO	14.2yrs	US$3.33m	0.16% $ 1.7m
Elizabeth Harrison	Independent Director	4.3yrs	US$164.00k	0.033% $ 362.9k
I. Majumder	Lead Independent Director	13.8yrs	US$217.00k	0.047% $ 516.2k
Romano Tio	Independent Director	13.8yrs	US$197.00k	0.084% $ 932.3k
Kamal Jafarnia	Independent Director	3.3yrs	US$167.00k	0.0096% $ 106.3k

13.8yrs

Average Tenure

57yo

Average Age

Experienced Board: BRG's board of directors are seasoned and experienced ( 13.8 years average tenure).

This company has been acquired

Bluerock Residential Growth REIT Management

Management criteria checks 4/4

Key information

Recent management updates

Insufficient new directors

Insufficient new directors

Executive Vice President of Operations recently bought US$53k worth of stock

Chief Acquisitions Officer exercised options and sold US$685k worth of stock

Recent updates

Second quarter 2022 earnings: Revenues miss analyst expectations

Insufficient new directors

Insufficient new directors

Upcoming dividend of US$0.16 per share

First quarter 2022 earnings: EPS in line with analyst expectations despite revenue beat

Price target increased to US$28.28

Executive Vice President of Operations recently bought US$53k worth of stock

Full year 2021 earnings: EPS misses analyst expectations

Price target increased to US$17.38

Consensus forecasts updated

Price target increased to US$13.25

Third quarter 2021 earnings released: EPS US$0.43 (vs US$0.71 loss in 3Q 2020)

Consensus EPS estimates increase to US$1.25

Forecast to breakeven in 2021

Second quarter 2021 earnings released: US$0.28 FFO loss per share (vs US$0.67 loss in 2Q 2020)

Price target increased to US$12.13

Bluerock Residential Growth REIT, Inc. (NYSEAM:BRG) acquired Wayford at Concord for $44 million.

Bluerock Residential Growth REIT, Inc.(NYSEAM:BRG) dropped from Russell 3000E Growth Index

Consensus forecasts updated

An unknown buyer acquired a 80% stake in 238-Unit Apartment Community in Lake Jackson, Texas from Bluerock Residential Growth REIT, Inc. (NYSEAM:BRG) for $32 million.

First quarter 2021 earnings released: US$0.35 FFO loss per share (vs US$0.11 loss in 1Q 2020)

Bluerock Residential Growth REIT, Inc. (NYSEAM:BRG) acquired 80-Unit Apartment Community Located in Olympia, Washington for $24.5 million.

Bluerock Residential Growth REIT, Inc. Announces First Quarter Dividends on Common Stock, Payable on April 5, 2021

Chief Acquisitions Officer exercised options and sold US$685k worth of stock

Analysts update estimates

Price target raised to US$10.86

Bluerock Residential Growth REIT, Inc. (AMEX:BRG) acquired 90% interest in 432-unit apartment community in Mesa, Arizona for $74.3 million.

Bluerock Residential Growth REIT, Inc. (AMEX:BRG) acquired 270-Unit Apartment Community Located in Austin, Texas for $39.5 million.

Full year 2020 earnings released: US$2.02 loss per share (vs US$0.91 loss in FY 2019)

Revenue and earnings beat expectations

Shareholders Of Bluerock Residential Growth REIT (NYSEMKT:BRG) Must Be Happy With Their 90% Return

Bluerock Residential Growth REIT, Inc. to Report Q4, 2020 Results on Feb 11, 2021

Bluerock Residential Growth REIT, Inc. Withdraws its Full Year 2020 Guidance

Bluerock Residential Growth REIT, Inc. to Report Q3, 2020 Results on Nov 05, 2020

Bluerock Residential Growth REIT, Inc. Withdraws its Full Year 2020 Guidance

Analysts update estimates

Analysts update estimates

An unknown buyer acquired a 90% stake in Marquis at TPC from Bluerock Residential Growth REIT, Inc. (AMEX:BRG) for $22.5 million.

Bluerock Residential Growth REIT, Inc. (AMEX:BRG) acquired the Falls at Forsyth for $82.5 million.

Bluerock Residential Growth REIT, Inc. to Report Q2, 2020 Results on Aug 10, 2020

Bluerock Residential Growth REIT, Inc.(AMEX:BRG) dropped from Russell 2000 Growth-Defensive Index

Bluerock Residential Growth REIT, Inc.(AMEX:BRG) dropped from Russell 2000 Defensive Index

CEO Compensation Analysis

CEO

Tenure

Compensation

Leadership Team

Average Tenure

Average Age

Board Members

Average Tenure

Average Age