Bluerock Homes Trust (NYSEAMERICAN:BHM) Trading Up 0.7% – Here’s What Happened

Bluerock Homes Trust, Inc. (NYSEAMERICAN:BHM) shares traded up 0.7% during trading on Tuesday . The stock traded as high as $10.25 and last traded at $10.01. 1,724 shares were traded during trading, a decline of 80% from the average session volume of 8,534 shares. The stock had previously closed at $9.94.

Bluerock Homes Trust Trading Up 2.4%

The firm has a market cap of $39.25 million, a price-to-earnings ratio of -3.16 and a beta of 0.19. The company has a fifty day moving average price of $10.75 and a 200-day moving average price of $10.28.

Bluerock Homes Trust (NYSEAMERICAN:BHM) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.90) earnings per share for the quarter. Bluerock Homes Trust had a negative return on equity of 4.96% and a negative net margin of 21.39%.The business had revenue of $19.70 million during the quarter.

Bluerock Homes Trust declared that its Board of Directors has authorized a stock repurchase program on Tuesday, February 17th that allows the company to repurchase $10.00 million in shares. This repurchase authorization allows the company to repurchase up to 27.5% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In other news, CEO Ramin Kamfar purchased 22,727 shares of the firm’s stock in a transaction on Wednesday, March 18th. The shares were bought at an average cost of $10.97 per share, for a total transaction of $249,315.19. Following the completion of the purchase, the chief executive officer directly owned 50,446 shares of the company’s stock, valued at approximately $553,392.62. This trade represents a 81.99% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 23.12% of the stock is owned by company insiders.

Hedge Funds Weigh In On Bluerock Homes Trust

Large investors have recently bought and sold shares of the business. Kestra Advisory Services LLC purchased a new position in shares of Bluerock Homes Trust during the fourth quarter worth about $35,000. Dearborn Partners LLC acquired a new position in Bluerock Homes Trust in the 4th quarter worth $150,000. Geode Capital Management LLC raised its stake in shares of Bluerock Homes Trust by 4.9% in the 4th quarter. Geode Capital Management LLC now owns 38,768 shares of the company’s stock valued at $414,000 after purchasing an additional 1,817 shares in the last quarter. Finally, Millennium Management LLC grew its position in shares of Bluerock Homes Trust by 17.3% during the 4th quarter. Millennium Management LLC now owns 78,142 shares of the company’s stock valued at $834,000 after buying an additional 11,523 shares during the last quarter. Hedge funds and other institutional investors own 56.06% of the company’s stock.

Bluerock Homes Trust Company Profile

Bluerock Homes Trust is a real estate investment trust (REIT) that specializes in the acquisition, ownership and management of factory-built residential housing. The company’s portfolio primarily consists of single-family and modular homes that are installed on leased land or held for rental and sale. By focusing on factory-built housing, Bluerock aims to deliver an affordable, high-quality alternative to conventional home construction and to generate stable rental income through long-term lease agreements.

The company’s core activities include sourcing newly manufactured homes directly from builders, overseeing their delivery and installation, and managing ongoing property operations.