NexPoint Residential Trust Inc - NXRT STOCK NEWS

NexPoint Residential Trust (NYSE: NXRT) has announced a quarterly dividend of $0.42 per share, aimed at rewarding its shareholders. This dividend is payable on June 30, 2023, to stockholders of record by June 15, 2023. As a publicly traded REIT, NXRT focuses on acquiring and managing middle-income multifamily properties with potential for value enhancement, particularly in large cities across the Southeastern and Southwestern United States.

NexPoint Residential Trust (NYSE:NXRT) reported its first-quarter financial results for 2023, showing a net loss of $(3.9) million, an improvement compared to $(4.7) million in the same period last year. The company achieved funds from operations (FFO) of $19.3 million, slightly up from $19.0 million, while core FFO decreased to $18.6 million from $20.1 million. Total revenues rose to $69.2 million, a 14% increase year-over-year. The average effective monthly rent across 40 properties was $1,487, with occupancy at 94.0%. NXRT executed a refinancing of Venue on Camelback, paying down $17.5 million of its corporate credit facility. In its value-add strategy, the company completed upgrades on 494 units, achieving a 21.2% return on investment. Lastly, NXRT distributed a dividend of $0.42 per share on March 31, 2023.

NexPoint Residential Trust (NYSE: NXRT) announced the record date for stockholders entitled to vote at the 2023 Annual Meeting as April 3, 2023. The meeting will be held on May 9, 2023, at 10:00 a.m. Central Time in a virtual format. Stockholders of record can vote and ask questions online during the meeting. Further details will be included in the Proxy Materials, which will provide access instructions for the meeting. NexPoint focuses on acquiring and operating middle-income multifamily properties with growth potential in large cities and surrounding areas, mainly in the Southeastern and Southwestern United States.

NexPoint Residential Trust, Inc. (NYSE: NXRT) announced a quarterly dividend of $0.42 per share of common stock. The dividend is payable on March 31, 2023, to stockholders of record on March 15, 2023. This decision by the board emphasizes the company's commitment to returning value to its shareholders. NexPoint Residential Trust focuses on acquiring and operating middle-income multifamily properties, primarily in the Southeastern and Southwestern United States.

NexPoint Residential Trust (NXRT) reported a net loss of $(9.3) million for the year ending December 31, 2022, compared to a net income of $23.0 million in 2021. Total revenues increased to $264.0 million in 2022, up from $219.2 million in 2021. For the fourth quarter, NXRT recorded a net income of $3.8 million, down from $38.8 million a year prior. The company's FFO for 2022 was $73.4 million, with an annual dividend increase of 10.5% to $0.42 per share. The weighted average rent per unit was $1,480, and occupancy stood at 94.1%. The company plans to discuss these results in a conference call on February 21, 2023.

NexPoint Residential Trust (NXRT) announced the final income allocations for its 2022 dividends, totaling $1.56 per share from all distributions. The company detailed the taxable ordinary income, capital gains, and returns of capital for each dividend payment throughout the year. Notably, the dividend payments were made quarterly, with the final payment of $0.42 per share recorded on December 14, 2022. Shareholders are advised to consult their tax advisors regarding the implications of these dividends. The comprehensive allocations will be reported on Form 1099-DIV.