BHM
Bluerock Homes Trust, Inc.
Next earnings ≈ Aug 6, 2026 · est. from filing cadence
$9.43
▲ +2.06%$9.43▼ -20.00%
over 1Y
L $8.11H $14.31
Earnings Dividend Split Congress buy Congress sellGrouped by date · hover a pin to expand
Today+2.1%
1W+4.8%
1M-5.7%
3M-17.3%
YTD-17.4%
1Y-20.0%
Hold
Conviction
Horizon
Long (>12mo)
Street · 5 analysts
Buy
Deep-discount, externally-managed micro-cap REIT: ~0.3x book and positive cash flow, but GAAP losses, rising debt and a cut dividend cap it.
Price $9.43 · current
BHM is a tiny ($36.7M market cap, only 3.89M shares) Sunbelt/Western residential REIT that is growing the top line aggressively — FY2025 revenue rose 36.9% to $68.7M, the fifth straight year of growth from $14.6M in 2021 — by buying communities like Southern Pines Reserve ($56.6M) and Skytop Apartments ($88.5M). The portfolio (4,053 operating units, ~90.9% occupied, 93.0% ex-renovation/held-for-sale) is real and cash-generative: operating cash flow more than tripled to $27.8M and D&A was $31.7M, which is what turns a REIT's headline GAAP result — net loss of -$32.6M, EPS -$3.02 — deeply red without necessarily meaning the underlying assets don't pay. The single most striking figure is valuation: at $9.43 the stock trades near ~0.28x the $129M stated stockholders' equity (~$33/share book) and just 0.5x sales. For a deep-value contrarian, that discount to stated NAV plus positive/growing operating cash flow is the entire bull case.
Is BHM a buy? The one-page verdict, explained →
The options angle
model · matches our verdictCovered call~90d expiry
- Long 100 shares @ ~9.43
- Short call 10 @ ~0.84 est
debit $859max +$141max −$858BE 8.59
HOLD means own it, don't chase it — harvesting premium against the position matches the verdict.
Educational template, not a trade recommendation. Strikes and premiums are Black-Scholes model estimates from the last close and 30-day realized volatility — real chains, spreads and IV will differ. Options involve substantial risk.
Financials · annual, by fiscal year
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | $14.6M | $34.1M | $41.1M | $50.2M | $68.7M |
| Gross profit | — | — | — | — | — |
| Operating income | $389K | -$9.95M | — | — | — |
| Net income | $112M | -$5.92M | -$15.8M | -$12.1M | -$32.6M |
| Diluted EPS | $8.93 | -$0.26 | -$1.30 | -$1.10 | -$3.02 |
| Net margin | 764.2% | -17.4% | -38.4% | -24.1% | -47.4% |
10-year statements — income, cash flow, balance sheet & CSV export →
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Key statistics
Valuation
Enterprise value—
EV / EBITDA—
EV / Sales—
EV / FCF—
P / FCF10.4
PEG (trailing)—
Earnings yield-30.1%
FCF yield9.6%
Quality & risk
ROIC (est.)-1.4%
Free cash flow$10.4M
Total debt$428M
Net cash-$234M
Piotroski F-Score3/7
Capital returns
Buyback yield—
Dividend yield (est.)1.4%
Shareholder yield1.4%
Shares Δ YoY+0.9%
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Disclosure timeline
SEC · 8-Ks + reportsRecent disclosure tone has skewed negative — read the flagged items.
- 8-K Shareholder vote2026-06-11
Annual meeting results: directors elected, auditor ratified — routine governance
- 8-K Acquisition / disposition2026-06-08
Closed a residential-community acquisition/disposition; financials filed
- 8-K Acquisition / disposition2026-06-02
Completed another property transaction under portfolio strategy; exhibits filed
- 8-K Unregistered share sales2026-05-14
Issued unregistered equity (OP/preferred units) — mild dilution to fund deals
- 10-Q Quarterly report2026-05-07
Q1'26: revenue growing but still net-loss-making, leverage rising post-acquisitions
- DEF 14A Proxy statement2026-04-14
Annual proxy: director slate, say-on-pay, external-manager conflicts flagged
- 8-K Unregistered share sales2026-04-03
Another unregistered equity issuance to fund investments — modestly dilutive
- 8-K Other event2026-03-25
Item 8.01 other-events disclosure (press release/update) — no material change
- 10-K Annual report2026-02-27
FY25 rev +37% to $68.7M but net loss widened to -$32.6M, EPS -$3.02
Recent filings
all on EDGAR ↗8-KPeriod ending 2026-06-102026-06-11open ↗4Period ending 2026-06-052026-06-08open ↗8-KPeriod ending 2026-06-022026-06-08open ↗8-KPeriod ending 2026-05-272026-06-02open ↗SCHEDULE 13G/AFiling2026-05-15open ↗4Period ending 2026-05-122026-05-14open ↗4Period ending 2026-05-122026-05-14open ↗8-KPeriod ending 2026-05-122026-05-14open ↗424B3Filing2026-05-07open ↗10-QPeriod ending 2026-03-312026-05-07open ↗DEF 14APeriod ending 2026-06-102026-04-14open ↗4Period ending 2026-04-012026-04-03open ↗
Frequently asked
- Is Bluerock Homes Trust, Inc. (BHM) a buy?
- BHM currently carries a Hold rating with 2/5 conviction, derived from its latest SEC filings. Deep-discount, externally-managed micro-cap REIT: ~0.3x book and positive cash flow, but GAAP losses, rising debt and a cut dividend cap it.
- What is Bluerock Homes Trust, Inc.'s quality score?
- BHM scores 49.54611987707382/100 (grade D) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.
Sources: SEC EDGAR (CIK 0001903382, latest 10-Q filed 2026-05-07) · EODHD · Proprietary analysis · as of 7/3/2026, 4:36:54 PM.
About this recommendation — produced by TENK/calls (tenkcalls.com), Luxembourg · not investment advice
AI-generated analysis, produced by our proprietary engine from SEC filing data.
Investment recommendation produced by TENK/calls (tenkcalls.com), Luxembourg. Completed Jul 3, 2026, 12:36 PM ET. Ratings & methodology: definitions · All recommendations to date: track record · Conflicts: disclosures. Not investment advice.
Research and education only — not financial advice. TENKis not a registered investment adviser or broker-dealer and gives no personalized advice. Every call is impersonal — identical for all users, generated on a schedule from SEC filings plus a delayed/third-party price feed — may be wrong or out of date, and is not a recommendation to buy or sell any security. The operator and an affiliated trading operation may hold or trade the securities TENK rates; see Disclosures. Past performance does not guarantee future results. Do your own research.