Bluerock Homes Trust Stock Gain 19% Upon Initiation of Trading

Following its debut on the New York Stock Exchange American, shares of Bluerock Homes Trust Inc. soared 19% to $23.76 on Thursday.

Bluerock Homes Trust was established on Thursday as an externally-managed REIT specializing on the single-family rental market. The IPO comes after Bluerock Homes Trust was spun off from Bluerock Residential Growth REIT Inc.

The original portfolio of the firm consists of interests in about 4,000 homes, including 2,300 operational homes and 1,600 properties owned through preferred equity and mezzanine loan investments.

BHM common shares began trading under the symbol BHM on Thursday.