Bluerock Residential Growth REIT (BRG) reported its Q2 2021 financial results, highlighting a net loss of $5.4 million, or $0.21 per diluted share, compared to a net income of $15.1 million in Q2 2020. Rental revenues increased by 4.2% to $49.7 million, with property NOI rising 5.8% to $30.8 million. The company completed 248 unit upgrades, achieving an average ROI of 24%. Despite challenges, core funds from operations grew to $6.0 million. The firm reaffirmed its CFFO guidance for 2021, projecting earnings in the range of $0.65 to $0.70 per share.
Bluerock Residential Growth REIT (NYSE: BRG) plans to announce its Q2 2021 financial results on August 5, 2021, before market opening. A conference call will be held on the same day at 11:00 AM EDT for discussions and Q&A. Investors can preregister for the call or dial in on the day. Bluerock focuses on acquiring and developing high-quality live/work/play apartment communities. The company maintains its REIT status for tax purposes and aims to generate value through off-market transactions and property enhancements.
Bluerock Residential Growth REIT (NYSE American: BRG) announced its third-quarter 2021 cash dividends for Series B and Series T Preferred Stock. The Series B dividends total $15.00 per share, with payments of $5.00 scheduled for August 5, September 3, and October 5, 2021. The Series T dividends total $0.384375 per share, with payments of $0.128125 scheduled for the same dates. Both dividends are payable to record shareholders, underscoring BRG's commitment to delivering shareholder value.
Bluerock Residential Growth REIT (NYSE American: BRG) declared its second quarter 2021 dividends, amounting to $0.1625 per share for Class A and Class C common stocks. The Series C Cumulative Redeemable Preferred Stock will pay $0.4765625 per share, while the Series D Cumulative Preferred Stock will pay $0.4453125 per share. These dividends will be payable on July 2, 2021, to shareholders on record as of June 25, 2021.
Bluerock Residential Growth REIT (NYSE American: BRG) reported significant financial recovery for Q1 2021, with net income of $23.6 million ($1.00 per diluted share), contrasting with a $16.5 million loss in Q1 2020. Core funds from operations (CFFO) decreased to $5.3 million ($0.16 per diluted share) due to increased expenses. Portfolio occupancy improved to 95.8%, while total revenues rose 1.4% to $51.1 million. The company sold assets generating $303 million in gross sales, strengthening its balance sheet, which held $260.5 million in cash as of March 31, 2021.
Bluerock Residential Growth REIT (NYSE: BRG) will announce its financial results for Q1 2021 on May 10, 2021, prior to market open. Following the results, a conference call will take place at 11:00 AM ET the same day, offering insights through prepared remarks and a Q&A session. Investors are encouraged to pre-register for the call, which will also be accessible via webcast for replay until June 10, 2021. As a REIT, Bluerock focuses on acquiring and developing high-quality residential communities in attractive markets.
Bluerock Residential Growth REIT has declared monthly cash dividends for Q2 2021 on its Series B and Series T Redeemable Preferred Stock. The Series B dividends total $15.00 per share, payable at $5.00 on May 5, June 4, and July 2, 2021. The Series T dividends total $0.384375 per share, with payments of $0.128125 on the same dates as the Series B dividends. This decision reflects the company’s commitment to shareholder returns amidst its ongoing operations in the real estate sector.
Bluerock Residential Growth REIT (NYSE: BRG) announced strong preliminary February metrics, reporting 97% rent collections from its multifamily properties and an occupancy rate of 95.6% as of February 28, 2021. The Company attributes its stable performance to its focus on knowledge economy markets and its portfolio of Class A affordable luxury apartments, catering to tenants with better wage-to-rent ratios. BRG aims to expand its portfolio through targeted acquisitions and improvements, maintaining its inclusion in the Russell 2000 and 3000 Indexes.
Bluerock Residential Growth REIT (NYSE American: BRG) has declared quarterly cash dividends for the first quarter of 2021. Shareholders will receive $0.1625 per share for Class A and Class C common stocks, payable on April 5, 2021, to those on record as of March 25, 2021. Additionally, dividends for preferred stocks include $0.4765625 for the Series C and $0.4453125 for the Series D, also payable on April 5. The company aims to generate value through strategic transactions and property enhancements.
Bluerock Residential Growth REIT (NYSE American: BRG) reported a 6.6% increase in Q4 2020 revenues to $56 million, despite a net loss of $1.13 per diluted share. The company's property NOI grew 9.7% to $30.9 million, with portfolio occupancy at 95.4%. They continued to collect 97% of rents and executed substantial share repurchases. Full-year revenues rose 4.7% to $219.8 million. However, net loss per share for the year increased to $1.91. The company anticipates 2021 CFFO between $0.65 and $0.70 per share, emphasizing a stronger second half.