Bluerock Homes Trust Reports $19.3 Million Net Loss and 17% Revenue Growth for First Half of 2026

Bluerock Homes Trust, Inc. reported a net loss of $19.3 million for the six months ended June 30, 2026, compared to a net loss of $13.2 million for the same period in 2025. The company's total revenues increased by 17% to $39.0 million, driven primarily by a 20% rise in rental and other property revenues, which reached $39.0 million, up from $32.6 million in the prior year. This growth was attributed to the acquisition of 897 units across three residential communities, although it was partially offset by the sale of 319 single-family units. The average occupancy rate for consolidated operating investments was approximately 90.2%, with residential communities achieving a higher occupancy rate of 94.9%.

In terms of expenses, Bluerock's property operating expenses rose to $18.9 million, a 19% increase from $15.8 million in the previous year, largely due to the newly acquired units. General and administrative expenses remained relatively stable at $5.6 million, while management fees to related parties increased to $5.4 million, reflecting the growth in equity from recent preferred stock offerings. The company also recorded $1.1 million in impairment of real estate investments during the first half of 2026, compared to $0.2 million in the same period last year.

Strategically, Bluerock continued to expand its portfolio, acquiring an additional 40 units at Parkside at Summers Corner for $10.3 million, bringing the total units acquired to 52 out of a planned 100. The company also sold 192 units for approximately $39.8 million during the first half of 2026, generating net proceeds of about $33.0 million after mortgage paydowns. As of June 30, 2026, Bluerock held 24 real estate investments, including 18 consolidated investments and five preferred equity investments, totaling 5,420 residential units.

The company’s financial position showed total assets of $1.15 billion, with cash and cash equivalents amounting to $172.1 million. Bluerock's total liabilities decreased to $454.9 million from $462.6 million at the end of 2025. The company also issued 351,304 shares of Series B Preferred Stock, raising approximately $6.9 million in net proceeds. Looking ahead, Bluerock aims to maintain its REIT status by distributing at least 90% of its taxable income to shareholders, while also navigating economic uncertainties, including inflation and interest rate fluctuations, which could impact its operations and financial performance.