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

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

Bluerock Homes Trust Stock Up 8.5%

NYSEAMERICAN:BHM opened at $11.74 on Thursday. The stock has a fifty day simple moving average of $9.66 and a 200 day simple moving average of $10.63. The firm has a market capitalization of $47.66 million, a price-to-earnings ratio of -4.02 and a beta of 0.68. Bluerock Homes Trust has a 1-year low of $8.05 and a 1-year high of $14.81.

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.