Bluerock Homes Trust (NYSEAMERICAN:BHM) to Buyback $10.00 million in Stock

Bluerock Homes Trust (NYSEAMERICAN:BHM) announced that its Board of Directors has approved a share repurchase program on Tuesday, February 17th, RTT News reports. The company plans to repurchase $10.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 27.5% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

Bluerock Homes Trust Price Performance

BHM stock traded up $1.86 on Tuesday, reaching $10.82. 29,820 shares of the company traded hands, compared to its average volume of 6,303. Bluerock Homes Trust has a one year low of $8.05 and a one year high of $14.81. The company has a market cap of $43.93 million, a P/E ratio of -3.71 and a beta of 0.68. The firm has a fifty day simple moving average of $9.59 and a 200-day simple moving average of $10.62.

About Bluerock Homes Trust

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.