NexPoint Residential Trust, Inc. Announces Appointment of Independent Director

Rhea-AI Summary

NexPoint Residential Trust, Inc. (NXRT) announced the appointment of Catherine Wood as an independent director on the board, effective July 27, 2020. Chairman and CEO James Dondero expressed excitement about the fresh perspective Ms. Wood brings, highlighting her unique background. She is the CEO and CIO of ARK Investment Management LLC, which she founded in 2014, and has extensive experience in investment strategies from her previous roles at AllianceBernstein and Tupelo Capital Management. NXRT focuses on acquiring and operating middle-income multifamily properties in large cities.

Positive

• Catherine Wood brings extensive investment experience and leadership, potentially enhancing NXRT's strategic direction.
• Her background in thematic investment strategies could provide valuable insights into NXRT's growth opportunities.

Negative

• Concerns may arise regarding continuity in leadership dynamics with the addition of a new board member.
• Potential experience gaps could exist if Ms. Wood's focus diverges from NXRT's established operational strategies.

DALLAS, July 28, 2020 /PRNewswire/ -- NexPoint Residential Trust, Inc. ("NXRT" or the "Company") (NYSE: NXRT) announced today the appointment of Catherine Wood as an independent director to the Company's board of directors effective July 27, 2020.

"We are very excited to welcome Ms. Wood to our board.  We believe Ms. Wood brings a fresh perspective to the board and a unique background that complements the current directors," said Chairman and Chief Executive Officer, James Dondero.

Ms. Wood is Chief Executive Officer and Chief Investment Officer of ARK Investment Management LLC ("ARK"), a registered investment adviser, which she founded in January 2014.  Prior to ARK, Cathie spent 12 years at AllianceBernstein as Chief Investment Officer of Global Thematic Strategies.  Ms. Wood joined Alliance from Tupelo Capital Management, a hedge fund she co-founded.  Prior to her tenure at Tupelo Capital, she worked for 18 years at Jennison Associates LLC as Chief Economic Officer and several other positions.  She started her career in Los Angeles at The Capital Group as an Assistant Economist.  Ms. Wood received her Bachelor of Science, summa cum laude, in Finance and Economics from the University of Southern California.  

About NXRT

NexPoint Residential Trust is a publicly traded REIT, with its shares listed on the New York Stock Exchange under the symbol "NXRT," primarily focused on acquiring, owning and operating well-located middle-income multifamily properties with "value-add" potential in large cities and suburban submarkets of large cities, primarily in the Southeastern and Southwestern United States. NXRT is externally advised by NexPoint Real Estate Advisors, L.P., an affiliate of NexPoint Advisors, L.P., an SEC-registered investment advisor, which has extensive real estate experience.

Contact: 
Jackie Graham
Investor Relations
972-628-4024
JGraham@nexpointadvisors.com

Media Inquiries
MediaRelations@nexpointadvisors.com

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SOURCE NexPoint Residential Trust, Inc.

FAQ

Who is the new independent director appointed by NXRT?

Catherine Wood has been appointed as the new independent director of NexPoint Residential Trust.

When was Catherine Wood's appointment to NXRT's board effective?

Catherine Wood's appointment to the board became effective on July 27, 2020.

What is the background of Catherine Wood in relation to NXRT?

Catherine Wood is the CEO and CIO of ARK Investment Management LLC and has prior experience at AllianceBernstein and Tupelo Capital Management.

How might Catherine Wood's appointment impact NXRT?

Her extensive experience in investment strategies may enhance NXRT's strategic direction and provide insights for growth.