Bluerock Homes Trust, Inc. BHM
Bluerock Homes Trust, Inc. ("Bluerock Homes," "the Company," "we," "us," or "our") was incorporated on December 16, 2021 under the laws of the state of Maryland.
We have elected to be taxed and currently qualify as a real estate investment trust ("REIT") for federal income tax purposes beginning with our taxable year ended December 31, 2022. As a REIT, we generally are not subject to corporate-level income taxes. In order to maintain our REIT status, we are required, among other requirements, to distribute annually at least 90% of our "REIT taxable income," as defined by the Internal Revenue Code of 1986, as amended (the "Code"), to our stockholders. If we fail to maintain our qualification as a REIT in any taxable year, we would be subject to federal income tax on our taxable income at regular corporate tax rates and we would not be permitted to qualify as a REIT for four years following the year in which we lost our qualification. We intend to continue to organize and operate in such a manner as to remain qualified as a REIT.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Revenue | $68.1M | $48.6M | $41.0M | $32.9M | $9.3M | — |
| SG&A | $11.2M | $10.6M | $8.0M | $7.1M | $4.6M | — |
| Total operating expenses | $90.2M | $68.9M | $57.5M | $44.1M | $14.2M | — |
| Operating income | — | — | — | -$9.9M | $389.0K | — |
| Interest expense | $24.0M | $18.1M | $13.1M | — | — | — |
| Pre-tax income | -$31.0M | -$12.1M | -$15.9M | -$6.2M | $945.0K | — |
| Income tax | $1.6M | $0 | — | — | — | — |
| Net income | -$32.6M | -$12.1M | -$15.8M | -$5.9M | $34.3M | — |
| EPS, basic | — | -1.10 | -1.30 | -0.26 | 8.93 | — |
| EPS, diluted | -3.02 | -1.10 | -1.30 | -0.26 | 8.93 | — |
| Shares, diluted (wtd. avg.) | 3.9M | 3.9M | 3.8M | 3.8M | 3.8M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Cash and equivalents | $2.1M | $115.2M | $86.4M | $82.6M | $136.9M | $53.5M |
| Other intangibles | — | $2.7M | — | — | — | — |
| Total assets | $222.1M | $967.0M | $671.6M | $658.9M | $541.5M | — |
| Long-term debt | $428.4M | $252.8M | $96.7M | $98.2M | $63.0M | — |
| Total liabilities | $2.8M | $398.1M | $192.7M | $166.9M | $79.5M | — |
| Retained earnings | $7.2M | $20.7M | $24.9M | $33.3M | $34.3M | — |
| Total equity | $128.7M | $139.1M | $470.6M | $492.0M | $462.0M | $184.0M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Operating cash flow | $27.8M | $9.1M | $13.9M | $3.5M | $9.8M | — |
| Depreciation and amortisation | $31.7M | $21.6M | $19.3M | $18.8M | $9.8M | — |
| Capital expenditure | $17.4M | $9.3M | $9.5M | $18.6M | $1.7M | — |
| Investing cash flow | -$169.4M | -$224.9M | -$25.7M | -$177.2M | $158.0M | — |
| Financing cash flow | $204.9M | $260.7M | $15.7M | $119.3M | -$84.5M | — |
| Dividends paid | $1.5M | $3.9M | $12.6M | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-021568.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|
| Revenue | — | $9.3M | $32.9M | $41.0M | $48.6M | $68.1M |
| Gross profit | — | — | — | — | — | — |
| Net income | — | $34.3M | -$5.9M | -$15.8M | -$12.1M | -$32.6M |
Recent filings and events
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
- Unregistered share sale Shares issued outside a registered offering. Dilution, and for a small company often the way it is funded. Item 3.02
- Acquisition or disposal completed A purchase or sale of a significant business or asset has closed. Item 2.01
- Acquisition or disposal completed Item 2.01
- Material agreement signed Item 1.01
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Acquisition or disposal completed Item 2.01
- Acquisition or disposal completed Item 2.01
- Unregistered share sale Item 3.02
- Unregistered share sale Item 3.02
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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