Bluerock Residential Growth REIT Announces First Quarter 2019 Results
NEW YORK, May 7, 2019 |PRNewswire| -- Bluerock Residential Growth REIT, Inc. (NYSE: BRG ) ("the Company"), an owner of highly amenitized multifamily apartment communities, announced today its financial results for the quarter ended March 31, 2019 . First Quarter Highlights Total revenues grew 23% to $51.5 million for the quarter, from $41.9 million in the prior year period. Net loss attributable to common stockholders for the first quarter of 2019 was ($0.53) per share, as compared to ($0.40) per share in the prior year period. Net loss attributable to common stockholders includes non-cash items, including depreciation and amortization expense, of $0.74 per share in the first quarter of 2019 compared to $0.59 per share for the prior year period. Property Net Operating Income ("NOI") grew 29% to $27.1 million, from $21.0 million in the prior year period. Same store revenue and NOI increased 5.8% and 9.0% respectively, as compared to the prior year period. Core funds from operations attributable to common shares and units ("CFFO") increased 3% to $6.3 million , from $6.1 million in the prior year period.
Bluerock Residential Growth REIT Announces First Quarter 2019 Results
NEW YORK, May 7, 2019 |PRNewswire| -- Bluerock Residential Growth REIT, Inc. (NYSE: BRG ) ("the Company"), an owner of highly amenitized multifamily apartment communities, announced today its financial results for the quarter ended March 31, 2019 . First Quarter Highlights Total revenues grew 23% to $51.5 million for the quarter, from $41.9 million in the prior year period. Net loss attributable to common stockholders for the first quarter of 2019 was ($0.53) per share, as compared to ($0.40) per share in the prior year period. Net loss attributable to common stockholders includes non-cash items, including depreciation and amortization expense, of $0.74 per share in the first quarter of 2019 compared to $0.59 per share for the prior year period. Property Net Operating Income ("NOI") grew 29% to $27.1 million, from $21.0 million in the prior year period. Same store revenue and NOI increased 5.8% and 9.0% respectively, as compared to the prior year period. Core funds from operations attributable to common shares and units ("CFFO") increased 3% to $6.3 million , from $6.1 million in the prior year period.