false
0001903382
0001903382
2024-05-03
2024-05-03
iso4217:USD
xbrli:shares
iso4217:USD
xbrli:shares
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date
of Report (Date of earliest event reported): May 3, 2024
Bluerock Homes
Trust, Inc.
(Exact Name of Registrant as Specified in Its Charter)
Maryland |
001-41322 |
87-4211187 |
(State or other jurisdiction of incorporation
or organization) |
(Commission File
Number) |
(I.R.S. Employer
Identification
No.) |
1345 Avenue of the Americas, 32nd Floor
New York, NY 10105
(Address of principal executive offices)
(212) 843-1601
(Registrant’s telephone number, including
area code)
None.
(Former name or former address, if changed since last report)
Securities registered pursuant to Section 12(b) of
the Exchange Act:
Title
of each class |
Trading
Symbol |
Name
of each exchange on which registered |
Class
A Common Stock, $0.01 par value per share |
BHM |
NYSE
American |
Check the appropriate box below if the Form 8-K/A filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions:
¨
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2
of this chapter).
Emerging growth company x
If an emerging growth company, indicate
by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial
accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Dividend Declaration
On
May 3, 2024, Bluerock Homes Trust, Inc., a Maryland corporation (the “Company”) issued
a press release announcing that its Board of Directors (the “Board”) has authorized and the Company has declared an
additional enhancement with respect to the special dividends payable on the Company’s Series
A Redeemable Preferred Stock (the “Series A Preferred Stock,” and such enhanced special dividends, the “Series A Preferred
Enhanced Special Dividends”). The Series A Preferred Enhanced Special Dividends shall be declared for each month for which the Board
declares the regular monthly dividend of $0.125 per outstanding share of Series A Preferred Stock, commencing in May 2024 (payable in
June 2024). The Series A Preferred Enhanced Special Dividends (when applicable) will be aggregated with the regular monthly dividend on
the Series A Preferred Stock so as to effect a dividend rate of the average one month term
Secured Overnight Financing Rate (the “SOFR Rate”) plus 2.0%, subject to a 6.5%
minimum and 8.5% maximum annual rate, calculated and paid monthly. The Series
A Preferred Enhanced Special Dividends will be calculated based on the SOFR Rate for each day commencing on the 26th
day of the prior month and ending on the 25th day of the applicable month, payable on the 5th of each month.
A copy of this press release is attached as Exhibit 99.1 to this Current Report on Form 8-K, which press
release is furnished, not filed, for purposes of Section 18 of the Securities Exchange Act of 1934, as amended.
| ITEM 9.01 | FINANCIAL STATEMENTS AND EXHIBITS |
104 |
The cover page from this Current Report on Form 8-K, formatted in inline XBRL |
SIGNATURE
Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
|
BLUEROCK HOMES TRUST, INC. |
|
|
|
|
|
|
Date: May 7, 2024 |
By: |
/s/ Christopher J. Vohs |
|
|
Christopher J. Vohs |
|
|
Chief Financial Officer and Treasurer |
Exhibit 99.1
Corporate Headquarters
1345 Avenue of the Americas, 32nd Floor
New York, NY 10105
877.826.BLUE
PRESS RELEASE
For Immediate Release
Bluerock Homes Trust (BHM) Board Declares
Increased Dividends and Enhanced Terms For
Its Series A Preferred Stock
New
York, NY (May 3, 2024) – Bluerock Homes Trust, Inc. (NYSE American: BHM) (the “Company”) today
announced that its Board of Directors (the “Board”) has authorized the payment ofa new special dividend (the “Series A
Preferred Special Dividends”) with respect to the Company’s Series A Redeemable Preferred Stock (the “Series A
Preferred Stock”) replacing its previously announced special dividend. The Company intends to pay the Series A Preferred Special
Dividends which will be seamlessly aggregated with the regular monthly dividend so as to effect a dividend rate of the average 1-month
term SOFR rate (“SOFR Rate”) plus 2%, subject to a 6.5% minimum and 8.5% maximum annual rate, calculated and paid monthly.
By way of example, if
the average SOFR Rate is equal to 5.3% for a particular month, the aggregate dividend per share with respect to that month would be 1/12th
of 7.3% (the SOFR Rate plus 2%) based on the Stated Value of $25.00 per share, or $0.152. Conversely, if the average SOFR Rate is equal
to 3.0% for a particular month, the aggregate dividend per share with respect to that month would be 1/12th of the 6.5% annual dividend
minimum based on the Stated Value of $25.00 per share, or $0.135.
The
Series A Preferred Special Dividends shall be declared for each month for which the Board declares the regular monthly dividend of
$0.125 per outstanding share of Series A Preferred Stock, commencing in May 2024 (payable in June 2024). The Series A
Preferred Special Dividends will be calculated based on the 1-month term SOFR Rate for each day commencing on the 26th day of the prior
month and ending on the 25th day of the applicable month, payable on the 5th of each month.
About Bluerock Homes
Trust, Inc.
Bluerock Homes Trust, Inc. (NYSE American:
BHM), headquartered in New York, New York, is an externally managed REIT that owns and operates high-quality single-family properties
located in attractive markets with a focus on the knowledge-economy and high quality of life regions of the Sunbelt and high growth areas
of the Western United States. BHM’s principal objective is to generate attractive risk-adjusted investment returns by assembling
a portfolio of pre-existing single-family rental homes and developing build-to-rent communities. BHM properties are located across a diverse
group of growth markets and will seek to target a growing pool of middle-market renters seeking the single-family lifestyle without the
upfront and ongoing investments associated with home ownership. For more information, please visit bluerockhomes.com.
Forward Looking Statements
This press release
contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities
laws. These forward-looking statements are based upon the Company’s present expectations, but these statements are not guaranteed
to occur. Furthermore, the Company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes
in underlying assumptions or factors, of new information, data or methods, future events or other changes. Investors should not place
undue reliance upon forward-looking statements. For further discussion of the factors that could affect outcomes, please
refer to the risk factors set forth in Item 1A of the Company’s Annual Report on Form 10-K filed by the Company with the U.S.
Securities and Exchange Commission (“SEC”) on March 12, 2024, and subsequent filings by the Company with the SEC.
We claim the safe harbor protection for forward looking statements contained in the Private Securities Litigation Reform Act of 1995.
Contact
(Media)
Josh Hoffman
(208) 475.2380
jhoffman@bluerockre.com
##
v3.24.1.u1
Cover
|
May 03, 2024 |
Cover [Abstract] |
|
Document Type |
8-K
|
Amendment Flag |
false
|
Document Period End Date |
May 03, 2024
|
Entity File Number |
001-41322
|
Entity Registrant Name |
Bluerock Homes
Trust, Inc.
|
Entity Central Index Key |
0001903382
|
Entity Tax Identification Number |
87-4211187
|
Entity Incorporation, State or Country Code |
MD
|
Entity Address, Address Line One |
1345 Avenue of the Americas
|
Entity Address, Address Line Two |
32nd Floor
|
Entity Address, City or Town |
New York
|
Entity Address, State or Province |
NY
|
Entity Address, Postal Zip Code |
10105
|
City Area Code |
212
|
Local Phone Number |
843-1601
|
Written Communications |
false
|
Soliciting Material |
false
|
Pre-commencement Tender Offer |
false
|
Pre-commencement Issuer Tender Offer |
false
|
Title of 12(b) Security |
Class
A Common Stock, $0.01 par value per share
|
Trading Symbol |
BHM
|
Security Exchange Name |
NYSE
|
Entity Emerging Growth Company |
true
|
Elected Not To Use the Extended Transition Period |
false
|
X |
- DefinitionBoolean flag that is true when the XBRL content amends previously-filed or accepted submission.
+ References
+ Details
Name: |
dei_AmendmentFlag |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:booleanItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionFor the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD.
+ References
+ Details
Name: |
dei_DocumentPeriodEndDate |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:dateItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.
+ References
+ Details
Name: |
dei_DocumentType |
Namespace Prefix: |
dei_ |
Data Type: |
dei:submissionTypeItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionAddress Line 1 such as Attn, Building Name, Street Name
+ References
+ Details
Name: |
dei_EntityAddressAddressLine1 |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:normalizedStringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionAddress Line 2 such as Street or Suite number
+ References
+ Details
Name: |
dei_EntityAddressAddressLine2 |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:normalizedStringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- Definition
+ References
+ Details
Name: |
dei_EntityAddressCityOrTown |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:normalizedStringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionCode for the postal or zip code
+ References
+ Details
Name: |
dei_EntityAddressPostalZipCode |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:normalizedStringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionName of the state or province.
+ References
+ Details
Name: |
dei_EntityAddressStateOrProvince |
Namespace Prefix: |
dei_ |
Data Type: |
dei:stateOrProvinceItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionA unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 12 -Subsection b-2
+ Details
Name: |
dei_EntityCentralIndexKey |
Namespace Prefix: |
dei_ |
Data Type: |
dei:centralIndexKeyItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionIndicate if registrant meets the emerging growth company criteria.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 12 -Subsection b-2
+ Details
Name: |
dei_EntityEmergingGrowthCompany |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:booleanItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionCommission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.
+ References
+ Details
Name: |
dei_EntityFileNumber |
Namespace Prefix: |
dei_ |
Data Type: |
dei:fileNumberItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionTwo-character EDGAR code representing the state or country of incorporation.
+ References
+ Details
Name: |
dei_EntityIncorporationStateCountryCode |
Namespace Prefix: |
dei_ |
Data Type: |
dei:edgarStateCountryItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 12 -Subsection b-2
+ Details
Name: |
dei_EntityRegistrantName |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:normalizedStringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 12 -Subsection b-2
+ Details
Name: |
dei_EntityTaxIdentificationNumber |
Namespace Prefix: |
dei_ |
Data Type: |
dei:employerIdItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionLocal phone number for entity.
+ References
+ Details
Name: |
dei_LocalPhoneNumber |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:normalizedStringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionBoolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 13e -Subsection 4c
+ Details
Name: |
dei_PreCommencementIssuerTenderOffer |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:booleanItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionBoolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 14d -Subsection 2b
+ Details
Name: |
dei_PreCommencementTenderOffer |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:booleanItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionTitle of a 12(b) registered security.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 12 -Subsection b
+ Details
Name: |
dei_Security12bTitle |
Namespace Prefix: |
dei_ |
Data Type: |
dei:securityTitleItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionName of the Exchange on which a security is registered.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 12 -Subsection d1-1
+ Details
Name: |
dei_SecurityExchangeName |
Namespace Prefix: |
dei_ |
Data Type: |
dei:edgarExchangeCodeItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionBoolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Section 14a -Number 240 -Subsection 12
+ Details
Name: |
dei_SolicitingMaterial |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:booleanItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionTrading symbol of an instrument as listed on an exchange.
+ References
+ Details
Name: |
dei_TradingSymbol |
Namespace Prefix: |
dei_ |
Data Type: |
dei:tradingSymbolItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionBoolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Securities Act -Number 230 -Section 425
+ Details
Name: |
dei_WrittenCommunications |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:booleanItemType |
Balance Type: |
na |
Period Type: |
duration |
|
Bluerock Homes (AMEX:BHM)
Historical Stock Chart
Von Sep 2024 bis Okt 2024
Bluerock Homes (AMEX:BHM)
Historical Stock Chart
Von Okt 2023 bis Okt 2024