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10-Q Filing

BLUEROCK HOMES TRUST, INC. CIK: 1903382 Q1 2023
Filing Information
Form Type 10-Q
Accession Number 0001410578-23-001017
Period End Date 20230331
Filing Date 20230511
Fiscal Year 2023
Fiscal Period Q1
XBRL Instance bhm-20230331x10q_htm.xml
Filing Contents
Balance Sheet 64 line items
Line Item Tag Value Unit Period
Preferred stock, par value (in dollars per share) PreferredStockParOrStatedValuePerShare $0.01 USD Point-in-time
Preferred stock, par value (in dollars per share) PreferredStockParOrStatedValuePerShare $0.01 USD Point-in-time
Preferred stock, shares authorized PreferredStockSharesAuthorized 250.00M shares Point-in-time
Preferred stock, shares authorized PreferredStockSharesAuthorized 250.00M shares Point-in-time
Preferred stock, shares issued PreferredStockSharesIssued 0.00 shares Point-in-time
Land Land $69.37M USD Point-in-time
Preferred stock, shares issued PreferredStockSharesIssued 0.00 shares Point-in-time
Land Land $69.87M USD Point-in-time
Buildings and improvements BuildingsAndImprovementsGross $412.46M USD Point-in-time
Preferred stock, shares outstanding PreferredStockSharesOutstanding 0.00 shares Point-in-time
Buildings and improvements BuildingsAndImprovementsGross $416.74M USD Point-in-time
Preferred stock, shares outstanding PreferredStockSharesOutstanding 0.00 shares Point-in-time
Furniture, fixtures and equipment FurnitureAndFixturesGross $8.16M USD Point-in-time
Furniture, fixtures and equipment FurnitureAndFixturesGross $9.02M USD Point-in-time
Total Gross Real Estate Investments RealEstateGrossAtCarryingValue $495.64M USD Point-in-time
Total Gross Real Estate Investments RealEstateGrossAtCarryingValue $489.99M USD Point-in-time
Accumulated depreciation RealEstateAccumulatedDepreciation $21.82M USD Point-in-time
Accumulated depreciation RealEstateAccumulatedDepreciation $17.86M USD Point-in-time
Total Net Real Estate Investments RealEstateInvestments $472.13M USD Point-in-time
Total Net Real Estate Investments RealEstateInvestments $473.81M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $78.43M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $210.67M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $58.69M USD Point-in-time
Restricted cash RestrictedCashAndCashEquivalents $4.14M USD Point-in-time
Restricted cash RestrictedCashAndCashEquivalents $4.41M USD Point-in-time
Restricted cash RestrictedCashAndCashEquivalents $5.75M USD Point-in-time
Accounts receivable, prepaids and other assets, net AccountsAndOtherReceivablesNetCurrent $20.15M USD Point-in-time
Accounts receivable, prepaids and other assets, net AccountsAndOtherReceivablesNetCurrent $17.92M USD Point-in-time
Preferred equity investments in unconsolidated real estate joint ventures, net EquityMethodInvestments $85.89M USD Point-in-time
Preferred equity investments in unconsolidated real estate joint ventures, net EquityMethodInvestments $86.29M USD Point-in-time
TOTAL ASSETS Assets $642.95M USD Point-in-time
TOTAL ASSETS Assets $658.89M USD Point-in-time
Mortgages payable LongTermDebtNoncurrent $97.82M USD Point-in-time
Mortgages payable LongTermDebtNoncurrent $98.19M USD Point-in-time
Revolving credit facilities LineOfCredit $55.00M USD Point-in-time
Revolving credit facilities LineOfCredit $49.00M USD Point-in-time
Accounts payable AccountsPayableCurrentAndNoncurrent $1.75M USD Point-in-time
Accounts payable AccountsPayableCurrentAndNoncurrent $1.15M USD Point-in-time
Other accrued liabilities AccruedLiabilitiesCurrentAndNoncurrent $7.93M USD Point-in-time
Other accrued liabilities AccruedLiabilitiesCurrentAndNoncurrent $9.75M USD Point-in-time
Due to affiliates DueToAffiliateCurrentAndNoncurrent $2.36M USD Point-in-time
Due to affiliates DueToAffiliateCurrentAndNoncurrent $2.21M USD Point-in-time
Total Liabilities Liabilities $166.91M USD Point-in-time
Total Liabilities Liabilities $158.25M USD Point-in-time
Preferred stock, $0.01 par value, 250,000,000 shares authorized; no shares issued and outstanding as of March 31, 2023 and December 31, 2022 PreferredStockValue - USD Point-in-time
Preferred stock, $0.01 par value, 250,000,000 shares authorized; no shares issued and outstanding as of March 31, 2023 and December 31, 2022 PreferredStockValue - USD Point-in-time
Additional paid-in-capital AdditionalPaidInCapital $126.62M USD Point-in-time
Additional paid-in-capital AdditionalPaidInCapital $126.48M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $31.79M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $33.33M USD Point-in-time
Total Stockholders' Equity StockholdersEquity $158.31M USD Point-in-time
Total Stockholders' Equity StockholdersEquity $159.99M USD Point-in-time
Operating partnership units MinorityInterestInOperatingPartnerships $309.38M USD Point-in-time
Operating partnership units MinorityInterestInOperatingPartnerships $307.82M USD Point-in-time
Partially owned properties NoncontrollingInterestInPartiallyOwnedProperties $17.01M USD Point-in-time
Partially owned properties NoncontrollingInterestInPartiallyOwnedProperties $24.18M USD Point-in-time
Total Noncontrolling Interests MinorityInterest $332.00M USD Point-in-time
Total Noncontrolling Interests MinorityInterest $326.40M USD Point-in-time
Total Equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $491.99M USD Point-in-time
Total Equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $484.70M USD Point-in-time
Total Equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $461.97M USD Point-in-time
Total Equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $551.70M USD Point-in-time
TOTAL LIABILITIES AND EQUITY LiabilitiesAndStockholdersEquity $642.95M USD Point-in-time
TOTAL LIABILITIES AND EQUITY LiabilitiesAndStockholdersEquity $658.89M USD Point-in-time
Income Statement 49 line items
Line Item Tag Value Unit Period
Rental and other property revenues RevenueFromContractWithCustomerIncludingAssessedTax $10.14M USD 1 Quarter
Rental and other property revenues RevenueFromContractWithCustomerIncludingAssessedTax $6.85M USD 1 Quarter
Interest income from loan investments InterestIncomeOperating $885.00K USD 1 Quarter
Total revenues Revenues $7.74M USD 1 Quarter
Total revenues Revenues $10.14M USD 1 Quarter
Property operating OperatingCostsAndExpenses $4.56M USD 1 Quarter
Property operating OperatingCostsAndExpenses $2.78M USD 1 Quarter
Property management and asset management fees PropertyManagementFeeExpense $1.09M USD 1 Quarter
Property management and asset management fees PropertyManagementFeeExpense $643.00K USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $1.63M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $1.99M USD 1 Quarter
Management fees to related party ManagementFeesRelatedParty $1.92M USD 1 Quarter
Acquisition and other transaction costs AcquisitionCosts $1.46M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $3.96M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $4.48M USD 1 Quarter
Total expenses OperatingExpenses $14.98M USD 1 Quarter
Total expenses OperatingExpenses $9.53M USD 1 Quarter
Operating loss OperatingIncomeLoss $-1.79M USD 1 Quarter
Operating loss OperatingIncomeLoss $-4.84M USD 1 Quarter
Other income OtherIncome $1.00K USD 1 Quarter
Other income OtherIncome $44.00K USD 1 Quarter
Preferred returns on unconsolidated real estate joint ventures PreferredReturnsOnUnconsolidatedRealEstateJointVentures $1.27M USD 1 Quarter
Preferred returns on unconsolidated real estate joint ventures PreferredReturnsOnUnconsolidatedRealEstateJointVentures $2.80M USD 1 Quarter
(Provision for) recovery of credit losses, net ProvisionForDoubtfulAccounts $-362.00K USD 1 Quarter
(Provision for) recovery of credit losses, net ProvisionForDoubtfulAccounts $6.00K USD 1 Quarter
Interest expense, net InterestIncomeExpenseNonoperatingNet $-3.27M USD 1 Quarter
Interest expense, net InterestIncomeExpenseNonoperatingNet $-1.06M USD 1 Quarter
Total other (loss) income NonoperatingIncomeExpense $578.00K USD 1 Quarter
Total other (loss) income NonoperatingIncomeExpense $-439.00K USD 1 Quarter
Net loss ProfitLoss $-5.28M USD 1 Quarter
Net loss ProfitLoss $-1.22M USD 1 Quarter
Net loss ProfitLoss $-5.28M USD 1 Quarter
Net loss ProfitLoss $-1.22M USD 1 Quarter
Operating partnership units NoncontrollingInterestInNetIncomeLossOperatingPartnershipsRedeemable $-302.00K USD 1 Quarter
Operating partnership units NoncontrollingInterestInNetIncomeLossOperatingPartnershipsRedeemable $-2.98M USD 1 Quarter
Partially-owned properties NoncontrollingInterestInNetIncomeLossPartiallyOwnedProperties $-753.00K USD 1 Quarter
Partially-owned properties NoncontrollingInterestInNetIncomeLossPartiallyOwnedProperties $-757.00K USD 1 Quarter
Net loss attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $-1.06M USD 1 Quarter
Net loss attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $-3.74M USD 1 Quarter
Net loss attributable to common stockholders NetIncomeLoss $-157.00K USD 1 Quarter
Net loss attributable to common stockholders NetIncomeLoss $-1.54M USD 1 Quarter
Net loss per common share - Basic EarningsPerShareBasic $-0.40 USD 1 Quarter
Net loss per common share - Basic EarningsPerShareBasic $-0.04 USD 1 Quarter
Net loss per common share - Diluted EarningsPerShareDiluted $-0.04 USD 1 Quarter
Net loss per common share - Diluted EarningsPerShareDiluted $-0.40 USD 1 Quarter
Weighted average basic common shares outstanding WeightedAverageNumberOfSharesOutstandingBasic 3.84M shares 1 Quarter
Weighted average basic common shares outstanding WeightedAverageNumberOfSharesOutstandingBasic 3.84M shares 1 Quarter
Weighted average diluted common shares outstanding WeightedAverageNumberOfDilutedSharesOutstanding 3.84M shares 1 Quarter
Weighted average diluted common shares outstanding WeightedAverageNumberOfDilutedSharesOutstanding 3.84M shares 1 Quarter
Cash Flow Statement 73 line items
Line Item Tag Value Unit Period
Net loss ProfitLoss $-5.28M USD 1 Quarter
Net loss ProfitLoss $-1.22M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $4.54M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $4.78M USD 1 Quarter
Amortization of fair value adjustments AmortizationOfDebtDiscountPremium $-80.00K USD 1 Quarter
Amortization of fair value adjustments AmortizationOfDebtDiscountPremium $-80.00K USD 1 Quarter
Preferred returns on unconsolidated real estate joint ventures IncomeLossFromEquityMethodInvestments $2.80M USD 1 Quarter
Preferred returns on unconsolidated real estate joint ventures IncomeLossFromEquityMethodInvestments $1.27M USD 1 Quarter
Fair value adjustment of interest rate caps and swaps FairValueAdjustmentOfInterestRateCaps $1.13M USD 1 Quarter
Provision for (recovery of) credit losses, net ProvisionForDoubtfulAccounts $-362.00K USD 1 Quarter
Provision for (recovery of) credit losses, net ProvisionForDoubtfulAccounts $6.00K USD 1 Quarter
Distributions of income and preferred returns from preferred equity investments in unconsolidated real estate joint ventures EquityMethodInvestmentDividendsOrDistributions $754.00K USD 1 Quarter
Distributions of income and preferred returns from preferred equity investments in unconsolidated real estate joint ventures EquityMethodInvestmentDividendsOrDistributions $563.00K USD 1 Quarter
Share-based compensation attributable to equity incentive plan AdjustmentsForShareBasedPaymentsAttributableToEquityIncentivePlan $279.00K USD 1 Quarter
Share-based compensation to Manager - LTIP/C-LTIP Units AdjustmentsForShareBasedPaymentsAttributableToLtipUnits $2.61M USD 1 Quarter
Due to affiliates, net IncreaseDecreaseDueFromToAffiliates $-150.00K USD 1 Quarter
Due to affiliates, net IncreaseDecreaseDueFromToAffiliates $-445.00K USD 1 Quarter
Accounts receivable, prepaids and other assets IncreaseDecreaseInAccountsReceivablePrepaidsAndOtherAssets $1.16M USD 1 Quarter
Accounts receivable, prepaids and other assets IncreaseDecreaseInAccountsReceivablePrepaidsAndOtherAssets $1.63M USD 1 Quarter
Notes and accrued interest receivable IncreaseDecreaseInNotesReceivableCurrent $-2.76M USD 1 Quarter
Accounts payable and other accrued liabilities IncreaseDecreaseInAccountsPayableAndOtherOperatingLiabilities $-1.70M USD 1 Quarter
Accounts payable and other accrued liabilities IncreaseDecreaseInAccountsPayableAndOtherOperatingLiabilities $-208.00K USD 1 Quarter
Net cash (used in) provided by operating activities NetCashProvidedByUsedInOperatingActivities $-2.20M USD 1 Quarter
Net cash (used in) provided by operating activities NetCashProvidedByUsedInOperatingActivities $4.44M USD 1 Quarter
Acquisitions of real estate investments PaymentsToAcquireRealEstateHeldForInvestment $4.33M USD 1 Quarter
Acquisitions of real estate investments PaymentsToAcquireRealEstateHeldForInvestment $31.92M USD 1 Quarter
Capital expenditures PaymentsToAcquireProductiveAssets $3.67M USD 1 Quarter
Capital expenditures PaymentsToAcquireProductiveAssets $2.05M USD 1 Quarter
Investment in notes receivable PaymentsToFundLongtermLoansToRelatedParties $9.64M USD 1 Quarter
Repayments on notes receivable ProceedsFromCollectionOfLongtermLoansToRelatedParties $31.00M USD 1 Quarter
Purchase of interests from noncontrolling interests PurchaseOfInterestsFromNoncontrollingInterests $5.05M USD 1 Quarter
Proceeds from redemption of unconsolidated real estate joint ventures ProceedsFromSaleOfJointVentureInterest $4.06M USD 1 Quarter
Investment in unconsolidated real estate joint venture interests PaymentsToAcquireEquityMethodInvestments $3.67M USD 1 Quarter
Investment in unconsolidated real estate joint venture interests PaymentsToAcquireEquityMethodInvestments $10.71M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-11.04M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-24.94M USD 1 Quarter
Distributions to partially owned noncontrolling interests PaymentsOfDividendsToPartiallyOwnedNonControllingInterests $99.00K USD 1 Quarter
Distributions to partially owned noncontrolling interests PaymentsOfDividendsToPartiallyOwnedNonControllingInterests $58.00K USD 1 Quarter
Contributions from Bluerock Residential ProceedsFromIssuanceOfCommonStock $30.69M USD 1 Quarter
Contributions from noncontrolling interests ProceedsFromPartiallyOwnedNoncontrollingInterests $60.31M USD 1 Quarter
Contributions from noncontrolling interests ProceedsFromPartiallyOwnedNoncontrollingInterests $250.00K USD 1 Quarter
Borrowings on mortgages payable ProceedsFromNotesPayable $9.97M USD 1 Quarter
Repayments on mortgages payable RepaymentsOfNotesPayable $508.00K USD 1 Quarter
Repayments on mortgages payable RepaymentsOfNotesPayable $377.00K USD 1 Quarter
Repayments on revolving credit facilities RepaymentsOfLinesOfCredit $6.00M USD 1 Quarter
Payments of deferred financing fees PaymentsOfFinancingCosts $428.00K USD 1 Quarter
Net cash (used in) provided by financing activities NetCashProvidedByUsedInFinancingActivities $-6.23M USD 1 Quarter
Net cash (used in) provided by financing activities NetCashProvidedByUsedInFinancingActivities $99.98M USD 1 Quarter
Net (decrease) increase in cash, cash equivalents and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $79.48M USD 1 Quarter
Net (decrease) increase in cash, cash equivalents and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-19.46M USD 1 Quarter
Cash, cash equivalents and restricted cash, beginning of year CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $63.10M USD Point-in-time
Cash, cash equivalents and restricted cash, beginning of year CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $216.41M USD Point-in-time
Cash, cash equivalents and restricted cash, beginning of year CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $82.56M USD Point-in-time
Cash, cash equivalents and restricted cash, beginning of year CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $136.93M USD Point-in-time
Cash, cash equivalents and restricted cash, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $63.10M USD Point-in-time
Cash, cash equivalents and restricted cash, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $216.41M USD Point-in-time
Cash, cash equivalents and restricted cash, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $82.56M USD Point-in-time
Cash, cash equivalents and restricted cash, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $136.93M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $78.43M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $210.67M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $58.69M USD Point-in-time
Restricted cash RestrictedCashAndCashEquivalents $4.14M USD Point-in-time
Restricted cash RestrictedCashAndCashEquivalents $4.41M USD Point-in-time
Restricted cash RestrictedCashAndCashEquivalents $5.75M USD Point-in-time
Total cash, cash equivalents and restricted cash, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $63.10M USD Point-in-time
Total cash, cash equivalents and restricted cash, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $216.41M USD Point-in-time
Total cash, cash equivalents and restricted cash, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $82.56M USD Point-in-time
Total cash, cash equivalents and restricted cash, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $136.93M USD Point-in-time
Cash paid for interest (net of interest capitalized) InterestPaidNet $1.72M USD 1 Quarter
Cash paid for interest (net of interest capitalized) InterestPaidNet $734.00K USD 1 Quarter
Distributions payable - declared and unpaid AccrualOfDistributionsPayableToCommonUnitholders $3.27M USD 1 Quarter
Capital expenditures held in accounts payable and other accrued liabilities CapitalExpendituresHeldInAccountsPayableAndOtherAccruedLiabilities $140.00K USD 1 Quarter
Capital expenditures held in accounts payable and other accrued liabilities CapitalExpendituresHeldInAccountsPayableAndOtherAccruedLiabilities $849.00K USD 1 Quarter
Stockholders Equity 17 line items
Line Item Tag Value Unit Period
Beginning Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $491.99M USD Point-in-time
Beginning Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $484.70M USD Point-in-time
Beginning Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $461.97M USD Point-in-time
Beginning Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $551.70M USD Point-in-time
Contributions, net StockIssuedDuringPeriodValueNewIssues $91.00M USD 1 Quarter
Issuance of LTIP Units for director compensation StockIssuedDuringPeriodValueIssuanceOfLtipUnitsForDirectorCompensation $279.00K USD 1 Quarter
Issuance of LTIP Units to Manager StockIssuedDuringPeriodValueIssuanceOfLtipUnitsToManager $2.61M USD 1 Quarter
Acquisition of noncontrolling interests AcquisitionOfNoncontrollingInterests $-5.05M USD 1 Quarter
Distributions to partially owned noncontrolling interests MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders $58.00K USD 1 Quarter
Distributions to partially owned noncontrolling interests MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders $99.00K USD 1 Quarter
Contributions from noncontrolling interests NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance $250.00K USD 1 Quarter
Net loss ProfitLoss $-5.28M USD 1 Quarter
Net loss ProfitLoss $-1.22M USD 1 Quarter
Ending Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $491.99M USD Point-in-time
Ending Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $484.70M USD Point-in-time
Ending Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $461.97M USD Point-in-time
Ending Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $551.70M USD Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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