Bluerock Homes Trust (NYSEAMERICAN:BHM) Board of Directors Authorizes Stock Repurchase Plan

Bluerock Homes Trust (NYSEAMERICAN:BHM) declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, February 17th, RTT News reports. The company plans to buyback $10.00 million in outstanding shares. This buyback authorization allows the company to buy up to 27.5% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Bluerock Homes Trust Stock Down 3.2%

NYSEAMERICAN BHM opened at $11.36 on Friday. The stock has a market capitalization of $46.12 million, a PE ratio of -3.89 and a beta of 0.68. Bluerock Homes Trust has a 12-month low of $8.05 and a 12-month high of $14.81. The company has a 50 day moving average price of $9.72 and a two-hundred day moving average price of $10.63.

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.