Bluerock Residential Growth REIT 8.25% Series A Cumulative Redeemable Preferred Stock (Puttable After 10/2022)

By: ,

Date Issued   10/16/2015

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Shares Issued  2,500,000   Overallotment Shares  375,000

S&P Rating   NR   Moodys Rating   NR

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Security Ticker Symbol   BRG-A  OTC Temp Ticker  BLPPP

Market Traded ON   NYSE

Dividend Payment Paid on the 5th of January, April, July and October beginning on 1/5/2016

Quarterly Dividend   .516  Annual Dividend   2.0625

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Commencing in 10/2022 if the issue is not redeemed the dividend rate will be reset to 8.25% plus 2% of par (in 2022 the rate will be 10.25%), the rate will increase 2% of par (50 cents) on each anniversary date subject to a maximum of 14%.

Securities may be redeemed, at the issuers option, as early as 10/20/2020  the call price is $25 plus accrued dividends.

Dividend Payment will NOT be Qualified Distributions (Dividends of REITs are not qualified)

Maturity Date   None

NOTE–beginning in 10/2022 holders may, at their option, elect to have their shares redeemed at $25/share plus accrued dividends OR in common shares, or in any combination at the option of the company. 

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Additionally Bluerock will be required to maintain a asset coverage ratio of 200% as defined in the prospectus.

 

Company Investor Relations Page for Bluerock Residential Growth REIT

Click Here where you can find the offering Prospectus

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Tim McPartland
Tim McPartland is a private investor with over 45 years of investing experience. His analysis, research and writing is devoted to the hunt for income producing securities of all types, but in particular specializing in preferred stocks, exchange traded debt and Master Limited Partnerships.
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