Real Estate Investment Trust (REITs) companies invest in income producing properties that generate cash for investors which are paid out via dividends. One such REIT who has beat or met both the Zacks consensus earnings and revenue estimates for the past six consecutive quarters is our Zacks Bull of the Day, Bluerock Residential Growth REIT .
This Zacks Rank #1 (Strong Buy) company operates as a real estate investment trust. It acquires apartment properties in demographically attractive growth markets throughout the United States. Bluerock Residential Growth REIT, Inc. is based in New York.
Recent Earnings Results
Due to strategic acquisitions and prudent management the company posted year over year gains in total revenues +69%, Property net operating income (NOI) +75%, Property NOI margins +220 bps, and Same store NOI +8.1%. The company also made three major changes to their property portfolio during the quarter; acquiring a 90% leasehold interest in a 336-unit, Class A, mixed-use apartment community located in Atlanta Georgia, and a 90-unit to-be-built Class A apartment community located in Boca Raton, Florida. Management also sold Springhouse at Newport News for a sales price of approximately $38.0 million which generate net proceeds of $9.0 million.
Management’s Take
According to Ramin Kamfar, CEO, “We are pleased to report our portfolio continued to perform well during the third quarter with same store NOI growth of 8.1% and AFFO per share above the high end of our guidance," said Ramin Kamfar, the Company's Chairman and CEO. "We remain focused on reducing our cost of capital, and building a high quality portfolio in our current footprint of growth markets in the Sunbelt, from the Carolinas to Florida and Texas.”
Price and Consensus Graph
As you can see in the stock price and earnings consensus graph below, the company went through a rough 2015, but has seen their stock price and future earnings estimates rise for the majority of 2016.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Real Estate Investment Trust (REITs) companies invest in income producing properties that generate cash for investors which are paid out via dividends. One such REIT who has beat or met both the Zacks consensus earnings and revenue estimates for the past six consecutive quarters is our Zacks Bull of the Day, Bluerock Residential Growth REIT .
This Zacks Rank #1 (Strong Buy) company operates as a real estate investment trust. It acquires apartment properties in demographically attractive growth markets throughout the United States. Bluerock Residential Growth REIT, Inc. is based in New York.
Recent Earnings Results
Due to strategic acquisitions and prudent management the company posted year over year gains in total revenues +69%, Property net operating income (NOI) +75%, Property NOI margins +220 bps, and Same store NOI +8.1%. The company also made three major changes to their property portfolio during the quarter; acquiring a 90% leasehold interest in a 336-unit, Class A, mixed-use apartment community located in Atlanta Georgia, and a 90-unit to-be-built Class A apartment community located in Boca Raton, Florida. Management also sold Springhouse at Newport News for a sales price of approximately $38.0 million which generate net proceeds of $9.0 million.
Management’s Take
According to Ramin Kamfar, CEO, “We are pleased to report our portfolio continued to perform well during the third quarter with same store NOI growth of 8.1% and AFFO per share above the high end of our guidance," said Ramin Kamfar, the Company's Chairman and CEO. "We remain focused on reducing our cost of capital, and building a high quality portfolio in our current footprint of growth markets in the Sunbelt, from the Carolinas to Florida and Texas.”
Price and Consensus Graph
As you can see in the stock price and earnings consensus graph below, the company went through a rough 2015, but has seen their stock price and future earnings estimates rise for the majority of 2016.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>