Bluerock Homes Trust, Inc. (BHM) Form 10-Q — Aug 13, 2026

$BHMForm 10-QFiled Aug 13, 2026, 4:01 PM ET0001104659-26-095875Original filing

Bluerock Homes Trust posted Q2 2026 total revenues of $19.3 million, up 15% from $16.8 million a year earlier, driven by the residential communities segment where revenue jumped to $12.9 million from $8.9 million. Total net operating income rose to $9.6 million from $8.5 million. Despite the top-line growth, the net loss widened to $9.0 million ($0.90 per share) from $5.8 million ($0.66 per share), weighed down by higher net interest expense of $6.5 million versus $5.6 million, $4.3 million of preferred stock dividends and accretion, and $0.5 million of impairments on held-for-sale homes.

Key figures

Revenue: $19.3 million Q2 2026 (vs $16.8 million Q2 2025); $39.0 million 1H 2026 (vs $33.2 million 1H 2025)
Net Income: -$9.0 million Q2 2026 net loss (vs -$5.8 million Q2 2025); -$19.3 million 1H 2026 (vs -$13.2 million 1H 2025)
Noi q2 2026: $9.6 million (vs $8.5 million Q2 2025); $20.2 million 1H 2026
Mortgages payable: $431.6 million carrying value (fair value $411.8 million)
Ile loan amendment: maturity extended to October 7, 2026, interest-only at prime (6.75% in June 2026) plus 0.50%
Series a preferred: 6,527,513 shares issued, ~$141.8 million total net proceeds; offering terminated March 2026
Series b preferred: 351,304 shares issued, ~$6.9 million net proceeds; max offering $350 million at $25.00, 7.5%
Units sold 1h 2026: 192 units for $39.8 million gross, ~$33.0 million net proceeds, ~$0.9 million gain
Impairments 1h 2026: $1.1 million on held-for-sale single-family homes (vs $0.2 million 1H 2025)
Parkside acquisition: $10.3 million for 40 units in 1H 2026; $2.6 million for 10 more units in July 2026; $12.3 million remaining for 48 units
Distributions 1h 2026: $8.7 million declared, $8.6 million paid; quarterly common dividend $0.125/share
Interest expense q2 2026: $6.5 million net (vs $5.6 million Q2 2025)
Class a shares outstanding: 4,099,539 as of August 3, 2026
Remaining construction costs: $107.9 million for 358 units under development (Abode Wendell Falls, Harmony at Clear Creek)
Share repurchase authorization: $10 million (March 1, 2026 - February 28, 2027); no repurchases as of June 30, 2026
Preferred equity funding commitments: $8.8 million as of June 30, 2026 (down from $27.0 million at year-end 2025)

Price after filing

1 day: 0.0%7 days: +0.9%30 days: -4.0%

Close on the filing date to close N calendar days later (from $8.85). Historical, not a forecast.

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