Bluerock: 3Q Earnings Snapshot

Associated Press
Updated ·1 min read

NEW YORK (AP) _ Bluerock Residential Growth REIT Inc. (BRG) on Thursday reported a key measure of profitability in its third quarter, after reporting a loss in the same period a year earlier.

The New York-based real estate investment trust said it had funds from operations of $5.4 million, or 16 cents per share, in the period.

Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.

The company said it had a loss of $17.1 million, or 71 cents per share.

The owner of Southeastern U.S. apartment properties posted revenue of $54.6 million in the period.

The company's shares have declined 29% since the beginning of the year. The stock has dropped 30% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BRG at https://www.zacks.com/ap/BRG