Welcome to our dedicated page for Bluerock Residen news (Ticker: BRG), a resource for investors and traders seeking the latest updates and insights on Bluerock Residen stock.
Bluerock Residential Growth REIT, Inc. (BRG) was a real estate investment trust that focused on acquiring, developing, and managing multifamily apartment communities across the United States before its acquisition by Blackstone Real Estate affiliates.
The company specialized in institutional-quality, highly amenitized live/work/play residential properties located in knowledge economy growth markets. Bluerock Residential Growth REIT targeted Class A and Class B+ multifamily housing in demographically attractive markets characterized by strong employment growth and favorable population migration trends.
The company's portfolio primarily consisted of garden-style apartment communities and mid-rise residential buildings in high-growth Sunbelt markets and knowledge economy corridors throughout the southeastern and southwestern United States. Key target markets included metropolitan areas in Texas, Florida, North Carolina, Georgia, Tennessee, Arizona, and Colorado.
Bluerock Residential Growth REIT was structured as an externally managed REIT with operations overseen by Bluerock Real Estate, L.L.C. The company was included in both the Russell 2000 and Russell 3000 indexes during its time as a publicly traded entity.
The company was subsequently acquired by affiliates of Blackstone Real Estate in a transaction valued at approximately $3.6 billion. Prior to the acquisition, the company's single-family rental business was spun off into Bluerock Homes Trust, Inc. Following the completion of the acquisition, BRG's shares were delisted from the NYSE American exchange.
Note: BRG is no longer publicly traded. Historical news coverage remains available for reference purposes.
Bluerock Residential Growth REIT (NYSE American: BRG) declared monthly cash dividends for April 2022 on its Series B and Series T Redeemable Preferred Stock. The Series B Dividend is set at $15.00 per share, payable on May 5, 2022, to stockholders of record by April 25, 2022. The Series T Dividend is $0.384375 per share, also payable on May 5, 2022. The company aims to deliver value through strategic transactions and property improvements in high-demand markets.
Bluerock Residential Growth REIT, Inc. (NYSE: BRG) has declared quarterly cash dividends for Q1 2022. The Class A and Class C common stock dividends are set at $0.1625 per share, while the Series C Preferred Dividend is $0.4765625 per share, and the Series D Preferred Dividend is $0.4453125 per share. These dividends will be payable on April 5, 2022, to stockholders of record as of March 25, 2022.
Bluerock Residential Growth REIT (ticker: BRG) announced the income tax treatment for its 2021 dividends. For Class A common stock, shareholders received a total of $0.8125, with 78.36% classified as total capital gains. Series A Preferred Stock dividends totaled $2.2265625, while Series B Preferred Stock dividends reached $65.00. The Series C and D dividends amounted to $2.3828125 and $2.2265625, respectively, all reflecting similar capital gains classifications. These details are crucial for investors regarding tax reporting.
Bluerock Residential Growth REIT (NYSE: BRG) announced monthly cash dividends for Q1 2022 on its Series B and Series T Preferred Stock. The Series B Preferred Stock will pay $15.00 per share, with payments of $5.00 made on February 4, March 4, and April 5, 2022. The Series T Preferred Stock will pay a quarterly rate of $0.384375, with payments of $0.128125 on the same dates. Record dates for both series are January 25, February 25, and March 25, 2022. This decision reflects the company’s ongoing commitment to return value to shareholders.
Bluerock Residential Growth REIT (NYSE American: BRG) announced a definitive agreement with Blackstone Real Estate to acquire all outstanding shares for $24.25 per share, totaling $3.6 billion. The acquisition covers 30 multifamily properties with approximately 11,000 units, primarily located in major cities like Atlanta and Phoenix. Concurrently, BRG plans to spin off its single-family rental business into a new entity, Bluerock Homes Trust (BHOM). This transaction, expected to close in Q2 2022, represents a 124% premium over BRG's stock price prior to the acquisition announcement.
Bluerock Residential Growth REIT (NYSE American: BRG) declared quarterly cash dividends for Q4 2021, set at $0.1625 per share for Class A and C Common Stocks. The Series C Preferred Stock dividend is $0.4765625 per share, while the Series D Preferred Stock dividend is $0.4453125 per share. Additionally, an annual dividend of $0.05 per Series T Preferred Stock share was announced. Payment dates are scheduled for January 5, 2022 for common and preferred stocks, and December 29, 2021 for Series T Preferred Stock.
Bluerock Residential Growth REIT (BRG) reported a significant recovery for Q3 2021 with net income of $12.5 million or $0.45 per diluted share, bouncing back from a loss of $17.1 million in Q3 2020. Total revenues increased marginally by 2.3% to $49.8 million, while same-store revenues surged by 7.7%. The company sold three investments generating $100 million in net proceeds and completed 368 unit upgrades with an average ROI of 20.8%. The balance sheet showed $300.7 million in cash, and the company reaffirmed its 2021 CFFO guidance between $0.65 to $0.70 per share.
Bluerock Residential Growth REIT (NYSE: BRG) announced it will release its third-quarter financial results for the period ending September 30, 2021, on November 4, 2021, before market opening. A conference call is scheduled for the same day at 11:00 AM ET, featuring management's remarks and a Q&A session. Investors can pre-register for a unique PIN to access the call or join via telephone without pre-registration. The call's replay will be available on the company's website for a month. Bluerock focuses on developing institutional-quality apartment communities in attractive markets.
Bluerock Residential Growth REIT (NYSE American: BRG) announced monthly cash dividends for Q4 2021 on its Series B and Series T Redeemable Preferred Stock. The Series B Dividends amount to $15.00 per share, distributed in three payments of $5.00 each on November 5, December 3, and January 5, 2022. The Series T Dividends total $0.384375 per share, with $0.128125 distributed on the same payment dates. Record dates for both series are set for October 25, November 24, and December 23, 2021. This move reflects the company’s commitment to providing returns to its shareholders.
Bluerock Residential Growth REIT (NYSE American: BRG) has declared quarterly cash dividends for Q3 2021. Class A and C common stockholders will receive $0.1625 per share, while Series C Preferred Stockholders will get $0.4765625, and Series D Preferred Stockholders will receive $0.4453125. The dividends are payable on October 5, 2021, to stockholders of record as of September 24, 2021. This announcement underscores the company's commitment to providing returns to shareholders amidst ongoing uncertainties in the real estate market.
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