Kyle, one thing I'd like to add to the -- you're asking about supply and everything that all in all, I keep going abreast of each quarter. On average, they predict the company's share price to reach $17.00 in the next year. The REIT paid quarterly cash distributions of $0.125 per unit in Q3 of both years, representing an AFFO payout ratio of 82.7% in Q3 2021 compared with 87.5% last year. Yes, we continue to have great retention. Perfect. Please disable your ad-blocker and refresh. Well, thank you, Susie. All right. So that's pretty good. We would expect most companies to have some institutions on the register, especially if they are growing. 2023 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Matt, this is Dan again. We also continue to effectively navigate the challenges created by the pandemic. We are focused on deploying approximately $70 million on acquisitions in our core Texas markets before the end of the year, driving further growth in NOI and AFFO in the near term. So I think that bodes well for our business. And that does include organic growth that could be in there. FFO for Q3 2021 was $8.2 million or $0.16 per unit compared to $7.4 million or $0.16 per unit last year. And maybe just one last one from me. I don't really want to say much more about that. Would you say the slightly lower leasing spread is seen there? NAV per unit rose 41% to $17.77 in Q3 2021 compared to $12.60 last year. And I'll tell you what's great about the current environment. This was the fifth consecutive year in which we received this honor. (844) 978-6257. Use Website In a Screen-Reader Mode Accessibility Screen-Reader Guide, . And I think to really pinpoint that will have a lot to do with the -- how the rate increases are accepted in different areas. Now what do we have looking forward? If you move up to a five cap, if you're not careful, you can overlever yourself. One that, I think, I'm struggling with as far as putting an exact date on it as is all of our competitors in it. The threat of COVID-19 has not gone away, and it could create more uncertainty for BSR and the broader global economy in the months ahead. You've got more people moving into those markets than they have houses for. And you can pay anywhere between, call it, as little as $890 and as much as $2,000, right, on that $72,600 a year or that $4,600 a paycheck. Yes, I think Blake mentioned earlier, our average resident makes about $72,600 a month [a year] in the state of Texas. With that said, we're very disciplined capital allocators. If you are like me, you may want to think about whether this company will grow or shrink. Now if I look forward into next year, let me pull out my crystal ball. September 4, 2022|markets.businessinsider.com, Receive BSRTF Stock News and Ratings via Email. So you're still seeing a kind of a, let's say, a breach in that net supply creating a, I'll say, a gap and then new renters coming to our markets. But is the market trending towards kind of figuring in year two and three, there's going to be a maybe not similar pace, but a heightened pace of rent growth in some of the acquisition underwriting? So anyway, the next question is, I think, Dan, you mentioned 4% to 7% of organic growth between 2022 to 2025. And then maybe just sticking with the rent growth story for a minute. All-Inclusive Vacation Prices in 2022 May Surprise You Resort Vacations. And in terms of the financing activity and the kind of refinancing and rate reductions at quarter end, can you give us a sense of the going forward run rate on interest expense? We are excited about our growth trajectory. And I know you're still underwriting and expecting bigger rent rolls in the next few quarters as well. That's very helpful. Same-property NOI rose 12.6%. And it's literally -- we're watching this closer than I have in 40 years of doing this type of thing on a daily basis. I think what COVID did in our markets was accelerated a trend that we've seen for 10 years. In-depth profiles and analysis for 20,000 public companies. We've got a supply chain issue in one of the largest -- we can call, the sixth largest port in the world or in the United States is coming out of Houston. I don't know if I said it the last time. So that helps us with site selection in Dallas. So by our watch, we're just counting forward 18 months, and we're measuring that success each week and each month. As far as 2022 goes, we're in the middle of budgeting right now, it's still a moving target. That relates to when we're collecting 98% last summer when COVID lockdown was more intact. Please refer to the cautionary statements on forward-looking information in our news release and MD&A dated November 9, 2021, for more information. And your housing costs, just to buy that median income house, that middle -- that average house is going to be about $2,600 a month. Yes. Real Estate Headquarters Regions Southern US Founded Date 1956 Operating Status Active Last Funding Type Post-IPO Equity Also Known As BSR REIT Legal Name BSR Trust, LLC Stock Symbol TAL:HOM.U Company Type For Profit Contact Email customerservice@bsrreit.com Phone Number 501.374.5050 [Operator Instructions] Your first question does come from Sairam Srinivas from Cormark. Also in connection with the acquisition of Aura 36Hundred, we amended a mortgage-encumbered credit facility with CIBC, reducing the margin by 20 basis points. With those kind of NOI gains, it really makes that 3.50% to 4.50% cap rate go down a lot more smoothly when you know that you're underwriting to incremental revenue gains in successive months after purchase with two to three years of tailwinds in the horizon. November looks similar, if not a little bit better than October. When is BSR Real Estate Investment Trust's next earnings date? Just wondering if you have any early indications for November. 5 min read To get a sense of who is truly in control of BSR Real Estate Investment Trust ( TSE:HOM.UN ), it is important to understand the. Its objective is to provide unit holders an opportunity to invest in multifamily real estate properties; provide cash distributions; maximize long-term unit value; and expand the asset base of the REIT. So what does that mean? Its usually considered a good sign when insiders own a significant number of shares in the company, and in this case, we're glad to see a company insider play the role of a key stakeholder. And I think the present is going to be a really good present when it comes to location and where they're going to be located. I think it's going to be a positive retention. There's a long -- there's a ton of room to grow and paying more effort to live with us at our great properties. Yes. Homebuilder Stocks Steady; Can They Stay That Way? We're going to be disciplined and keep ourselves from doing that. Constellation Brands Stock Swings After Earnings Announcement, Freeport-McMoRan: Analysts Bullish Ahead Of Growth Copper's Spurt, The Nike Rebound Is Over; Buying Opportunity Ahead, Verve Therapeutics Gains 20.74% In June as Ark Funds Invest, Moderna: Declining Performance And Relative Weakness, Dividend King H.B. This 66-year-old company has rewarded investors pretty . So that $1.1 million was actually collected for rent that was due from the past. All rights reserved. BSR Real Estate Investment Trust's stock was trading at $13.08 at the beginning of 2023. Would you say that the spreads you're getting on new leases is representative of the delta between in-place and market rents in the portfolio right now? We began to implement the capital recycling strategy back in the mid-2019, when the spread and cap rates between the primary and secondary markets dropped to historical low levels. And thanks for the new disclosure you provided this quarter. And I think that points to the really, what, you're looking at the stats to [have probably a little] on Dan. Can you give us a sense as to what the spread is that you're willing to accept on the lower end to retain a tenant as opposed to pushing them maybe to market and getting at the turnover? Get daily stock ideas from top-performing Wall Street analysts. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab. HONG KONG, Jun 30, 2023 - (ACN Newswire) - Yuexiu Real Estate Investment Trust ("Yuexiu REIT", together with Yuexiu REIT Asset Management Limited, stock code: 405. June 30, 2023 - 5:00 AM PDT. The consensus among Wall Street equities research analysts is that investors should "strong buy" BSRTF shares. That is, the group stands to benefit the most if the stock rises (or lose the most if there is a downturn). But we've talked about it in the past, but our training programs are, I think, as good as anybody's. 1 equities research analysts have issued 12-month price objectives for BSR Real Estate Investment Trust's shares. Reach 1000s of buyers who use CB Insights to identify vendors, demo products, and make purchasing decisions. We stress test our balance sheet looking at 50, 100 basis point shocks to cap rates. So it's not just our "noncore", it's gardening in our existing markets. Concerned about the content? Also, please note that all dollar-denominated amount -- the dollar amounts were denominated in U.S. currency. We thank you very much for participating, and ask that you please disconnect your lines. It's good to see the blended rent growth momentum continuing so far in the fourth quarter with what you reported in October. With a market capitalization of CA$568m, BSR Real Estate Investment Trust is a small cap stock, so it might not be well known by many institutional investors. It hasn't changed a bit. He drove by the ground. BSR conducts business with integrity and strives for the highest ethical standards by always treating partners, team members, residents . You got single-family housing that's sitting around $450,000 a unit a, house in Dallas and Austin and about $300,000 a house in Houston. Lithium is ideal for electric cars. Our three markets are in the top eight. BSR Real Estate Investment Trust is an open-ended real estate investment trust. But since that time, Dallas has really repositioned itself as the job locomotive of the United States. As Dan said, I think our retention rate was close to 57%. If we pick up more news, we'll see the occupancy dip down in the mid-90s or mid-95% to the kind of the higher maybe 96% range. And we intend, when you're saying retention and what we're going to do, we're going to do everything we can to maximize the income. We don't see it touching that. Your password must be at least 8 characters long and contain at least 1 number, 1 letter, and 1 special character. That's great color. And you put all those together, the headwinds are good. And I want to kind of refresh everybody because I talk about it every quarter, but it's really important. View our latest analysis for BSR Real Estate Investment Trust. Well, Round Rock has grown into Austin. Sorry, go ahead. Investor Relations Intelligence ; Nasdaq Direct Listings; Optimize Governance Practices. All distributions were classified as a return of capital. You could see that occurring in '21. We're pretty disciplined. We look at these rates every day and the balance, Dan said and I alluded to it on my earlier comments, is retaining occupancy at a satisfactory level, but also raising income on an overall basis. I just -- a lot of the questions have been addressed, but I just wanted to follow up on one thing on the rent growth. How can I contact BSR Real Estate Investment Trust? We're not developers. It most certainly does. It's just -- it's always a favorite market for people to pick on. John? Let's take Houston, Texas as a good snapshot, right? We've seen the same amount of cap rate compression. Your next question comes from Matt Logan from RBC. I mean clearly, the fundamentals are really strong in these markets. There's a little bit to unpack there. As of May 31st, there was short interest totaling 110,100 shares, a decrease of 6.1% from the May 15th total of 117,300 shares. When you look ahead to 2022, what do you see as the biggest opportunity for the REIT? So just wondering, obviously, 95% of leases are below market. I want to repeat that, only 5% of our leases are at/or above market rates. BSR Real Estate Investment Trust's mailing address is 333 Bay Street, Toronto, ON M5H. Now not only are we reaping the benefits of it, but the value of the BSR platform and culture continues to demonstrate its capability and scalability, as reflected by our earnings growth. But 6% is a fair number. How often does BSR Real Estate Investment Trust pay dividends? Insiders often own a large chunk of younger, smaller, companies while huge companies tend to have institutions as shareholders. The short answer to your question is yes, but I'd like to be long. As individuals, the insiders collectively own CA$88m worth of the CA$1.1b company. A stock is considered undervalued if it trades at a discount to its. So as Dan said, it truly is -- there's an art to it. Awesome. As a matter of fact, we kind of see -- we love the clip we got in Q3 lease rates as a result of that and our hard work. As of September 30, we had a total -- we had total mortgage notes payable of $547.6 million, excluding the credit facility and the line of credit, with a weighted average contractual interest rate of 3.1% and a weighted average term to maturity of 5.7 years. We continue to have a conservative debt to gross book value ratio. I look at the renewals that are going in, I'm involved in it. Please log in to your account or sign up in order to add this asset to your watchlist. And we still want to maintain that original leverage profile that we went public with, and get pretty dangerous when you're down at a four cap and 43% leverage. Your last question comes from Brad Sturges from Raymond James. Yes. Are investors shorting BSR Real Estate Investment Trust? As I said earlier, Austin is a unicorn market, right? Congrats again on an exceptionally strong quarter. And gosh, I wish it was more difficult than that for us. The result is, in our portfolio, as you can see, we have had exceptional rent uplifts in the third quarter in all of our markets, which has resulted in renewals for December and July -- excuse me, January, going on an average of 10% and that equates to an increase in income, which will be collected next year of 10% to 15%. Okay. Net asset value per unit increased 41% from the end of Q3 last year to $17.77 this year. We are obviously very pleased with our financial results for the third quarter, but this is only the beginning. The ex-dividend date of this dividend is Thursday, June 29th. Great. That's exactly right. And I could see our -- it might slip a tiny bit, but I think it's going to be in the same range. But I moved over to playing tennis courts and spent some time leasing apartments. And congrats again on a very solid quarter. HK) received the "Best ESG . We look forward to speaking with you again after the report of our fourth quarter 2021 results next year. Maybe just building on your commentary on Houston, Dan. So that's what we're excited about. Short Term 2W - 6W Mid Term 6W - 9M Long Term 9M+ Fair Value is the appropriate price for the shares of a company, based on its earnings and growth rate also interpreted as when P/E Ratio = Growth. No, I agree. Yes, I'll take this one. This shows at least some alignment. One share of BSRTF stock can currently be purchased for approximately $12.75. And whenever we buy a property in Dallas, a pretty good chance he drove by 25 years ago when he was a younger man. It's -- in our view, it's probably -- yes, I think previously we've guided to as high as 55. So just to follow up on the rent growth discussion. Find company research, competitor information, contact details & financial data for Bsr Real Estate Investment Trust of Little Rock, AR. And to add to that, Austin, I was telling Dan, I've been going to Austin. BSR Real Estate Investment Trust announced a monthly dividend on Thursday, June 15th. We bought our NAV game, we do have some unencumbered assets. Get short term trading ideas from the MarketBeat Idea Engine. That compares to 29 years at the time of our IPO in May 2018. We'll give some of the stats. Well, he's from Longview, but he'll call Dallas his home. This increased the maximum credit availability to $300 million from $285 million, extended the maturity to September 30, 2025 and decreased the interest rate to adjusted LIBOR plus 1.45% to 1.9%, subject to certain leverage ratios. You've got asset value growth on a [per pound basis]. That's what's driving that rental growth. BSR Real Estate Investment Trust Property Type Residential REITs Company Type REIT Exchange Toronto Stock Exchange (TSX) Listing Status Public Ticker HOM.U $12.38 1 Year Return -12.11% Home Investing in REITs REIT Directory BSR is a leading owner and operator of multifamily communities in the Sunbelt region of the United States. We do. Congrats on achieving that because I think it really does show in the numbers. Wondering if we could touch for a minute on the labor side of your business. I think those are -- this is Dan, Matt. Average year construction of those assets were 2015. If we pick up more renewals, we'll see that occupancy get closer to 97%. Not all REITs can do that. Sign up for MarketBeat All Access to gain access to MarketBeat's full suite of research tools: BSR Real Estate Investment Trust is an internally managed, unincorporated, open-ended real estate investment trust established pursuant to a declaration of trust under the laws of the Province of Ontario. If we think that we can find a way to sell our properties and enter into a market that can generate a higher yield and a higher total unitholder return, we will always look at that opportunity, including gardening in our existing markets. Or are you good there? And they're doing that based on what they see new leases look like today. This is driven in part by the very strong demand and economic fundamentals in these markets, including high population growth and low unemployment. Aggregating the Q3 and anticipated Q4 acquisitions, we expect NOI and AFFO to continue to gain strength throughout 2022. That's good to hear. Yes. BSR Real Estate Investment Trust Unit News, BSR REIT ANNOUNCES JULY 2022 CASH DISTRIBUTION, view top-rated stocks among Wall Street analysts. We talked a little bit about the retention rate with employees. BSR REIT is now ranked among the top 10 undervalued stocks in the Real Estate sector on the Toronto Stock Exchange. When we walk in and look at accretive acquisitions, we like that. We continue to see as well as every other multifamily owner in Austin, we continue to see heavy supply numbers, but absorption numbers sometimes two and three times what we're seeing in the supply. Well, thank you, Kelsey, and good afternoon, everyone. We view this as an opportunity to boost our exposure in the highest growth primary markets in Texas and upgrade our overall portfolio quality. I think executing on the organic rent that we see the opportunity to obtain as fast as possible is one of the big opportunity ahead of us. You want to make sure you got a bathing suit on. And the group that holds the biggest piece of the pie are individual investors with 67% ownership. BSR Real Estate Investment Trust is an internally managed, unincorporated, open-ended real estate investment trust (REIT). News by QuoteMedia. Or is there something else at play there as well? Just moving on from the $1.1 million, just trying to understand the spreads you're seeing in the rental markets. The soaring demand for lithium is driven by worldwide demand for electric vehicles (EVs). There are more people moving into Austin than there's housing available. About the company. And then the third, as one of our board members say, the most important asset and the most important liability of any company is not on its balance sheet, it's its people. I think Blake mentioned a little bit earlier that we're going to be a little bit more aggressive pursuing our news. And we've got somebody assigned to that. That makes sense. Our studies suggest that the top 25 shareholders collectively control less than half of the company's shares, meaning that the company's shares are widely disseminated and there is no dominant shareholder. That's about $1,000 higher to $1,500 higher than you're paying to live with us over -- in your residence at one of our properties. So most of our models are based upon the turnover rate. John, first off, congratulations on leading BSR to the summit, where it is, and I'm sure it's going to grow from here under Dan's leadership. But we're seeing All right. We look at these rates literally every day. Operator, please open the line for questions. This suggests a possible upside of 33.3% from the stock's current price. While in some of these cases, if not all of them, we're seeing 75 to 125 basis point expansion in year one organically. Moderators: Jeff Spector, Managing Director & Head of US REITs, Bank of America Securities; Camille . I'll now invite Susie to review our third quarter financial results in more detail. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. And we've seen 32,000 to 38,000 units absorbed in the city of Houston in the MSA. The mission of BSR is to provide an exceptional living experience for residents at a community they are proud to call home while creating value for our shareholders through strength, profitability, and growth. It's going to be fixed over two to three years. That catches my attention because hedge funds sometimes try to influence management, or bring about changes that will create near term value for shareholders. BSR Real Estate Investment Trust is an internally managed, unincorporated, open-ended real estate investment trust established pursuant to a declaration of trust under the laws of the Province of Ontario. I think so. My first question was on the $1.1 million of rental assistance that was received. HOM.UN fundamental analysis. We have appreciated the patience of our investors as we successfully achieved our objectives. Well, that concludes our call this afternoon, and thank you for your interest in BSR REIT. And some people may decide they want to go another place. We're mindful that in a compressing cap rate environment where you're seeing massive outpacing NOI gains, you always got to be careful for when that time comes up. Just maybe building a little bit on Matt's question there. Have feedback on this article? Susie will speak more about this important additive shortly. BSR Real Estate Investment Trust: Mailing Address: 1400 West Markham Street, Suite 202 Little Rock, Arkansas 72201: Head Office Address: 333 Bay Street, Suite 3400 Toronto, Ontario . AFFO increased 20.9%. Those are up anywhere between 13% and 30% year-over-year. We recorded a fair value increase of $162.3 million in the third quarter and $308.5 million during the nine-month period. During the call, we will reference certain non-IFRS financial measures. How many employees does BSR Real Estate Investment Trust have? So rolling into '23. How do I buy shares of BSR Real Estate Investment Trust? The definition of an insider can differ slightly between different countries, but members of the board of directors always count. And as a result, the stock component of our weighted average cost of capital has lowered certainly. The company is scheduled to release its next quarterly earnings announcement on Monday, August 7th 2023. And different areas, specifically submarkets, are different. And that's why that equation works out in each of our markets. Susie? That compares to 10% in Q3 2020. As this is my last earnings call to participate and with the team, before we get to your questions, please allow me to thank all of you for your interest and support of BSR, our valued investors for their trust, our Board of Trustees and all of our committed, dedicated and loyal BSR team members who live and work our mission to provide an outstanding living experience to our residents every day. So we're talking about dynamic growth and Dan's done a fabulous job finding the properties. What is BSR Real Estate Investment Trust's stock price today? contact@marketbeat.com Get 30 Days of MarketBeat All Access Free, By creating a free account, you agree to our, Understanding RSI: A Powerful Momentum Indicator for Stock Analysis. AMD, Game-Changing News, Stock Price Rises. However, it is best to be wary of relying on the supposed validation that comes with institutional investors. Get the latest business insights from Dun & Bradstreet. Susie will then review the financials and conclude by discussing our outlook and strategy. Board Portal Software; . When we look at the next two or three years, the problem that I think -- the fundamental problem that has been generated is a lack of housing supply. Thanks, John. This was strategically done through these months. Cap rates have certainly shrunk. There are a reasonable number of analysts covering the stock, so it might be useful to find out their aggregate view on the future. Entering text into the input field will update the search result below. So it's probably picked up a tad. Mr. Bailey, you may begin your conference. Could you maybe comment on what your thinking is around turnover activity and how you can kind of get more of that percentage up to market rents through 2022? Finally, I want to note that since the REIT base shelf prospectus is expiring in December 2021, we intend to renew it by filling and obtaining a receipt for a short form base shelf prospectus to be valid for a 25-month period. Any time you got ants moving into an anthill and it's not big enough, the rent goes up. So I feel pretty confident, and so do we that we'll fill that order between now and the end of the year. So I want to reiterate the depth of our market. And when I look at the growth, it is amazing. Thank you, and God bless you and God bless BSR. And so I'm not super comfortable at this point giving guidance over what we think the increases will be in the next 12 months. We continue to deploy our acquisition capacity into our core Texas markets during the third quarter. We see that compound population growth driven by job growth continuing to create these economies where our absorption exceeds supply. Are you still seeing a growth kind of overshooting the amount of supply? The Company and the Partner intend to grow the joint venture over time through the acquisition of high-quality, well . I'll take that one. Okay. This is Dan again. And we will continue to benefit from the recent accretive acquisitions we completed, including two in the third quarter. Most consider insider ownership a positive because it can indicate the board is well aligned with other shareholders. But I always have fun breaking down the numbers on it. Would that reflect a number of vacant units being leased? However, that doesn't take into account any refinancing we do over the next 12 months where we have about $28.9 million to refinance before the end of the year and then another $36.8 million next year in 2022. The average salary for BSR Real Estate Investment Trust employees is around $94,457 per year, or $45 per hour. The REIT went effective in January 2006 and closed its offering in May 2008 after raising $1.7 billion in investor equity . It's lightweight, stores lots of energy and is rechargeable. View the latest BSR Real Estate Investment Trust (BSRTF) stock price, news, historical charts, analyst ratings and financial information from WSJ. Yes. That's Houston. Meanwhile, the second and third largest shareholders, hold 5.3% and 3.2%, of the shares outstanding, respectively. Same-community revenue increased 7.7% in the second quarter to $14.5 million from $13.5 million last year. Matt, yes, you're right. I'll say we give Houston the best longer-term runway as far as all our markets are concerned. On September 30, 2021, we amended the REIT's revolving credit facility. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio. I know historically, you guys had a really good culture that's helped the retention. Now how long that's going to last into 2022? Now if you dig in deeper, that's about 60,000 energy-related jobs that haven't recovered in Houston. And from what we're seeing, that phenomenon does not seem to stop in the next two years. We're managers, that's what our focus is. Go out and get a mortgage and pay your taxes and insurance. That's a pretty great stat. Sorry, you're talking about the pipeline of newly developed properties. What is BSR Real Estate Investment Trust's stock symbol? I am joined on the call today by Susie Koehn, our Chief Financial Officer. I just want to wrap my head around the magnanimity of that number in terms of what percentage of tenants would you say are actually reliant on their assistance program? This will enable us to maintain financial flexibility. Overview Key Ratios Trading Information Last Close 12.64 Sector Real Estate Industry REIT - Residential Investment Style Small Blend Day Range 12.72 - 12.96 Year Range 12.32 - 17.76 Market. Share this article: Stay In The Know. And also, I think it ranked [second nationally then]. The money was collected through eligible residents at our properties. Those numbers are within our range. It's almost a redundant comment for us to make there. That's what's driving those high occupancies to us and the rest of our colleagues are talking about. Industry: Real estate investment trusts Printer Friendly View Address: 1400 W Markham St Ste 202 Little Rock, AR, 72201-1843 United States Brad, you asked the resulting leverage if we deploy $250 million of our capacity? What leverage does that assume if you deployed at full capacity? If I knew what it was going to be in three years, I'd be sitting underneath the shade tree right now.
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