NexPoint Residential Trust, Inc. Announces Operating Update; Provides REITWeek Presentation Timing

Rhea-AI Summary

NexPoint Residential Trust (NXRT) has posted its presentation for Nareit's REITWeek Investor Conference on its website. Management will engage in a round table discussion on June 9, 2021, at 11:00 AM ET. As of June 7, 2021, NXRT's average monthly rent was $1,149 per unit, with a portfolio occupancy of 95.6%. Current cash collections reached 97.9% of scheduled rent for May 2021, showing resilience amidst challenges. Only 0.8% of units requested assistance, indicating stable performance.

Positive

• Average monthly rent increased to $1,149.
• Portfolio occupancy remained strong at 95.6%.
• Cash collections at 97.9% of scheduled rent for May 2021.
• Only 0.8% of units requested assistance.

Negative

• Units delinquent and not requesting assistance rose to 15.5%.
• Percentage of units paying no rent increased to 4.6%.

DALLAS, June 8, 2021 /PRNewswire/ -- NexPoint Residential Trust, Inc. ("NXRT" or the "Company") (NYSE: NXRT) posted a presentation to its website this morning in connection with Nareit's REITWeek Investor Conference. The presentation is available on NXRT's website at www.nxrt.nexpoint.com under "Resources."

Management will be participating in a round table discussion on Wednesday, June 9, at 11:00 AM Eastern Time.  The event will be webcast live in a listen-only mode and can be accessed by registering for the event on Nareit's website.

Additionally, Management provided the following operating updates as of May 31, 2021.  As of June 7, 2021, NXRT's average monthly rent was $1,149 per unit and the portfolio was 95.6% occupied¹.

Collections Total Portfolio (13,976 units2)	May 2021	April 2021	Q1 2021
Cash collections as % of scheduled rent	97.9%	97.9%	99.0%
% of units requesting assistance	0.8%	1.3%	1.2%
Breakdown of units requesting assistance
% of units paid full rent	84.1%	92.1%	94.9%
% of units paid partial rent	11.2%	4.6%	3.3%
% of units paid no rent	4.6%	3.3%	1.8%
% of units delinquent and not requesting assistance3	15.5%	7.3%	4.8%
Operating Statistics Same-Store Portfolio (13,564 units)	May 2021	April 2021	Q1 2021
Cash collections as % of scheduled rent	97.8%	97.0%	98.0%
New lease tradeouts	+13.7%	+10.6%	+3.8%
Renewal tradeouts	+5.8%	+5.2%	+2.3%
Financial occupancy	94.6%	94.4%	94.1%
Physical occupancy 2,4	95.4%	95.1%	94.8%

About NexPoint Residential Trust, Inc.
NexPoint Residential Trust, Inc. 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. More information about NXRT is available at nxrt.nexpoint.com.

Contact:
NexPoint Residential Trust, Inc.
Investor Relations
Jackie Graham
jgraham@nexpoint.com
Media Inquiries: MediaRelations@nexpoint.com

¹As of June 7, 2021.
²Total units owned Is 14,205. However, 249 units were down due to fires, a tornado, and Winter Storm Uri through May 2021.
³Represents units that had greater than $250 in delinquency balance. May 2021 had the lowest amount of payment plans since being offered. 
⁴Physical occupancy is the average daily occupancy for each period.

 

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SOURCE NexPoint Hospitality Trust, Inc.

FAQ

What were NXRT's average monthly rent and occupancy as of June 7, 2021?

As of June 7, 2021, NXRT's average monthly rent was $1,149 per unit, with a portfolio occupancy of 95.6%.

When is the round table discussion for NXRT at REITWeek?

The round table discussion for NXRT will take place on June 9, 2021, at 11:00 AM ET.

What percentage of cash collections did NXRT achieve in May 2021?

NXRT achieved cash collections of 97.9% of scheduled rent in May 2021.

How many units of NXRT requested assistance in May 2021?

In May 2021, only 0.8% of NXRT's units requested assistance.

What is the percentage of NXRT units that paid no rent in May 2021?

In May 2021, 4.6% of NXRT's units paid no rent.