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.
BLUERCK RG REIT Price and Consensus
BLUERCK RG REIT Price and Consensus | BLUERCK RG REIT Quote
Increasing Earnings Estimates
Due to the impressive quarterly results and strong property pipeline earnings estimates for Q4 16, Q1 17, FY 16 and FY 17 over the past seven days; Q4 16 improved from $0.13 to $0.14, Q1 17 rose from $0.24 to $0.27, FY 16 was up from $0.68 to $0.82, and FY 17 jumped up from $1.07 to $1.18.
Bottom Line
Going into the fourth quarter, management has added or is in the process of adding 6 major properties located in several different states; Georgia, Texas, and Florida. These additions strengthen the company’s overall portfolio. Lastly, the company pays out a strong dividend which currently yields +8.67%.
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Bull of the Day: Bluerock Residential Growth REIT (BRG)
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.
BLUERCK RG REIT Price and Consensus
BLUERCK RG REIT Price and Consensus | BLUERCK RG REIT Quote
Increasing Earnings Estimates
Due to the impressive quarterly results and strong property pipeline earnings estimates for Q4 16, Q1 17, FY 16 and FY 17 over the past seven days; Q4 16 improved from $0.13 to $0.14, Q1 17 rose from $0.24 to $0.27, FY 16 was up from $0.68 to $0.82, and FY 17 jumped up from $1.07 to $1.18.
Bottom Line
Going into the fourth quarter, management has added or is in the process of adding 6 major properties located in several different states; Georgia, Texas, and Florida. These additions strengthen the company’s overall portfolio. Lastly, the company pays out a strong dividend which currently yields +8.67%.
Now see our private trades
Today's Bull of the Day is a promising buy that we're sharing with the public. Now would you like to look behind the curtain and view all our private portfolios? Starting today, for the next month, you can follow them in real time from value to momentum . . . from stocks under $10 to ETF and option plays . . . from insider trades to companies that are about to report positive earnings surprises (we've called them with 80%+ accuracy). You can even be privy to portfolios so exclusive that they are normally closed to new investors. Click here for all Zacks moves >>