BSR Real Estate Investment Trust
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BSR Real Estate Investment Trust
BSR Real Estate Investment Trust engages in the acquisition and owning of multifamily properties. The company is headquartered in Little Rock, Arkansas. The company went IPO on 2018-05-18. The principal business of the REIT is to acquire and operate multi-family residential rental properties. The REIT owns a portfolio of multifamily garden-style residential properties located in primary and secondary markets in the Sunbelt region of the United States. The firm owns approximately 25 multifamily garden-style residential properties consisting of over 7,607 apartment units. The Company’s objective is to provide unitholders with an opportunity to invest in a portfolio of multifamily real estate properties located in United States markets with a focus on the Sunbelt region, which is generally considered the southeastern and southwestern regions of the United States. The REIT operates in Arkansas, Texas and Oklahoma. The firm's core markets include Oklahoma City, Houston and Dallas in Texas, Little Rock and Austin.
BSR Real Estate Investment Trust engages in the acquisition and owning of multifamily properties. The company is headquartered in Little Rock, Arkansas. The company went IPO on 2018-05-18. The principal business of the REIT is to acquire and operate multi-family residential rental properties. The REIT owns a portfolio of multifamily garden-style residential properties located in primary and secondary markets in the Sunbelt region of the United States. The firm owns approximately 25 multifamily garden-style residential properties consisting of over 7,607 apartment units. The Company’s objective is to provide unitholders with an opportunity to invest in a portfolio of multifamily real estate properties located in United States markets with a focus on the Sunbelt region, which is generally considered the southeastern and southwestern regions of the United States. The REIT operates in Arkansas, Texas and Oklahoma. The firm's core markets include Oklahoma City, Houston and Dallas in Texas, Little Rock and Austin.
Strong Quarter: BSR REIT delivered robust Q2 results, with 8.5% same community revenue growth and 11.7% same community NOI growth year-over-year.
FFO & AFFO Growth: FFO increased by 14.1% and AFFO by 10% compared to Q2 2022, driven by higher rents and cost control.
Occupancy & Rent: Weighted average occupancy held at 95.3% and average rent per unit rose 6.3% to $1,501.
Buybacks: Nearly 1.5 million units repurchased in H1 at an average price of $13.25 per unit due to shares trading at a discount to NAV.
Guidance Maintained: The company reaffirmed its 2023 guidance for FFO, AFFO, revenue, and NOI growth.
External Growth: Management expects more acquisition opportunities as market conditions stabilize, but remains disciplined and focused on accretive deals.
Texas Tax Benefit: Potential property tax reductions in Texas could result in $1.3–$1.5 million in annual savings, though not yet included in guidance.