Beacon Unified Catalyst ETF

BSR

Capitalización de mercado USD 33.5 M

BSR Real Estate Investment Trust is deeply undervalued, trading at 66% of NAV, with Texas supply distortions masking asset strength. Current trough NOI is driven by heavy concessions from new supply, but moderating deliveries and concession attenuation should drive AFFO/share higher. Rental rates are poised to rise 15–30% as concessions fade, supporting a 50% upside to NAV of $16.56 per share.

BSR REIT trades at a 29% discount to its Q1 2026 NAV, with a 4.7% dividend yield and improving market fundamentals. New apartment supply in BSR's core Texas markets is set to decline sharply through 2027, while demand remains strong, supporting a positive rent outlook. BSR's 2025 portfolio rotation unlocked value and positioned the REIT for internal growth, with management targeting $0.13–$0.22 per unit FFO upside by 2028.