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-0.00294979150572317 -0.00294979150572317 -0.001251113372733 -0.0092275150406871 -0.00228509136672696 -0.00335599714622089 -0.00394684171421738 0.00502661016223113
Stock impact report

Explaining Bluerock Residential's Double-Digit Yield: High Debt, Potential For Dividend Cut [Seeking Alpha]

AvalonBay Communities, Inc. (AVB) 
Last avalonbay communities, inc. earnings: 2/5 04:15 pm Check Earnings Report
US:NYSE Investor Relations: investors.avalonbay.com
Company Research Source: Seeking Alpha
SummaryBRG is a lesser known residential REIT which has churned out impressive SS NOI growth.Shares yield over 10%, but is there more than meets the eye?BRG trades at a large discount to peers, but I explain why the discount makes sense.I explain why a dividend cut may be coming.I'm neutral on BRG due to leverage.Bluerock Residential (Deep Value At First GlanceBRG is a landlord of approximately 14,700 apartment units located in the top 40 markets across the nation:2019 PresentationBRG has targeted markets with strong demographics, as evidenced by the better than average employment and household income growth:(2019 Presentation)The most common way BRG grows cash flows is by raising rents. Aside from annual increases, BRG also has implemented a strategy of acquiring older apartment units with the aim of increasing rent through renovations. We can see below the example of Arium Glenridge (top left) which due to being older had significantly lower rents than neighboring units:Aside from t Show less Read more
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