Company: BHM
Filing Date: 2025-04-07
Form Type: POS AM
Source: 0001104659-25-032524
Chunk: 126

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-04-07
Form: POS AM
Chunk 126
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 value per share (the “Class A common stock”), and Class C common stock $0.01 par value
per share (the “Class C common stock”), will be entitled to receive cash dividends when, as and if authorized by our
board of directors and declared by us. On March 11, 2025, we declared quarterly cash dividends of $0.125 per share, or $0.50 per
share annually, for our Class A common stock and Class C common stock for each quarter of fiscal year 2025. The common stock
dividends will be paid on a quarterly basis.

We cannot assure you that
we will generate sufficient cash flows to make distributions to our stockholders or that we will be able to sustain those distributions.
If our operations do not generate sufficient cash flow to allow us to satisfy the REIT distribution requirements, we may be required
to fund distributions from working capital, offering proceeds, proceeds from our DST Program, borrowing funds, selling assets, making
a taxable distribution of our equity or debt securities, or reducing such distributions. In addition, while we have no intention to do
so, prior to the time we have fully invested the net proceeds of this offering, we may fund our distributions out of the net proceeds
of this offering, which could adversely impact our results of operations. Our distribution policy enables us to review the alternative
funding sources available to us from time to time. Our actual results of operations will be affected by a number of factors, including
the revenues we receive from our properties and other investments, our operating expenses, interest expense, the ability of our tenants
to meet their obligations and unanticipated expenditures. For more information regarding risk factors that could materially adversely
affect our actual results of operations, please see “Risk Factors.”

<div align='center'>63

MANAGEMENT’S DISCUSSION AND ANALYSIS OF
FINANCIAL CONDITION AND RESULTS OF OPERATIONS</div>

The following discussion and analysis should be read in conjunction with the accompanying financial statements, and the notes thereto. As used herein, the terms “we,” “our” and “us” refer to Bluerock Homes Trust, Inc., a Maryland corporation, and, as required by context, Bluerock Residential Holdings, L.P., a Delaware limited partnership, which we refer to as our “Operating Partnership,” and to their subsidiaries. We refer to Bluerock Real Estate, L.L.C., a Delaware limited liability company, together with its affiliates, as “Bluer