Welcome to our dedicated page for NexPoint Residential Trust news (Ticker: NXRT), a resource for investors and traders seeking the latest updates and insights on NexPoint Residential Trust stock.
NexPoint Residential Trust Inc (NXRT) is a publicly traded real estate investment trust (REIT) listed on the New York Stock Exchange. The company specializes in acquiring, owning, and operating well-located middle-income multifamily properties with significant 'value-add' potential, focusing primarily on large cities and suburban submarkets within the Southeastern and Southwestern United States. Being externally advised by NexPoint Real Estate Advisors, L.P., an affiliate of NexPoint Advisors, L.P., NXRT leverages extensive real estate expertise to drive its strategic objectives.
NexPoint Residential Trust aims to maximize cash flow and property value while ensuring quarterly cash distributions and long-term capital appreciation for its stockholders. The company's core business strategy includes acquiring multifamily properties in markets exhibiting strong job growth and household formation fundamentals. Revenue is predominantly generated through the rental of these multifamily properties.
Recent Achievements:
- On August 17, 2023, NXRT announced agreements to sell Old Farm in Houston, TX, and Silverbrook in Dallas, TX, expected to close by early Q4 2023. These transactions are projected to generate around $67 to $69 million of net sales proceeds.
- As of March 5, 2024, NXRT completed the sale of Old Farm, resulting in approximately $49.4 million net proceeds, which were used to pay down the corporate credit facility.
- The company is actively seeking buyers for Timber Creek and Radbourne Lake in Charlotte, NC, and Stone Creek at Old Farm in Houston, TX, with sales expected to complete between late Q4 2023 and Q1 2024.
- NXRT continues to pursue strategic de-leveraging and balance sheet improvement initiatives, including the use of asset sale proceeds to pay off higher property-level debt and improve liquidity.
Current Projects and Financial Health:
NXRT remains focused on its capex value-add program, targeting management and capital expenditures to enhance property performance. The company's portfolio is hedged 97% against debt, providing financial stability and reduced risk heading into 2024. Following recent asset sales, NXRT anticipates paying off the entire $57 million outstanding balance on its corporate credit facility, thus reducing overall portfolio debt by $156 million. These measures offer greater strategic flexibility for future growth and stock repurchases.
Partnerships:
Externally advised by NexPoint Real Estate Advisors, L.P., NXRT benefits from the extensive real estate experience and advisory services of NexPoint Advisors, L.P., an SEC-registered investment advisor. This partnership enables NXRT to execute its strategies efficiently and capitalize on market opportunities.
NexPoint Residential Trust (NYSE: NXRT) announced its final income allocations for its 2020 dividend distributions. The total distribution per share for 2021 is $1.40375, with notable payments of $0.34125 for the first three quarters and $0.38000 for the fourth quarter. All dividends are categorized as taxable ordinary income and return of capital, with no amounts reported for Section 199A dividends. Shareholders are encouraged to consult their tax advisors regarding tax implications.
NexPoint Residential Trust (NXRT) will host a conference call on February 15, 2022, at 11:00 a.m. ET to discuss its fourth quarter and full year 2021 financial results. The call can be accessed via telephone or through a live audio webcast on the company's website. A replay will be available for 60 days following the call. Additionally, NXRT plans to release its financial results before the market opens on the same date.
NexPoint Residential Trust, Inc. (NYSE: NXRT) has declared a quarterly dividend of $0.38 per share, marking an 11.4% increase from the previous quarter. This dividend is set to be paid on December 30, 2021, to stockholders on record by December 15, 2021. Since inception in 2015, dividends have risen by 84.5%. The company specializes in acquiring and operating middle-income multifamily properties across the Southeastern and Southwestern United States.
NexPoint Residential Trust (NYSE:NXRT) reported a third quarter 2021 net loss of $(5.4) million, compared to a net income of $29.6 million in Q3 2020. FFO for Q3 2021 was $16.1 million, down from $17.2 million, while AFFO rose to $18.6 million, compared to $15.1 million a year prior. Total revenues increased to $56.4 million from $51.0 million. Year-to-date, NXRT reported a net loss of $(15.7) million versus $48.2 million in 2020. The company declared a quarterly dividend of $0.38, marking an 11.4% increase. The occupancy rate stood at 95.3% with an average monthly rent of $1,204.
NexPoint Residential Trust, Inc. (NXRT) announced a conference call on November 2, 2021, at 11:00 a.m. ET to discuss its third quarter financial results. The call can be accessed by dialing 800-353-6461 or internationally at +1 334-323-0501. A live audio webcast will be available on the Company's website, with a replay accessible until November 9, 2021. The Company will issue a press release with the financial results before market open on the same day.
NexPoint Residential Trust (NYSE: NXRT) has declared a quarterly dividend of $0.34125 per share, set to be paid on September 30, 2021. Stockholders of record by September 15, 2021 will receive this dividend, reflecting the company's ongoing commitment to return value to its investors. NXRT focuses on acquiring and operating multifamily properties in the Southeastern and Southwestern United States, emphasizing 'value-add' investment opportunities.
NexPoint Residential Trust (NYSE:NXRT) reported second quarter results for 2021, posting a net loss of $(3.4) million, an improvement from $(9.3) million in Q2 2020. FFO reached $16.5 million, up from $12.0 million a year earlier, with Core FFO at $14.2 million compared to $14.5 million. Year-to-date, total revenue increased to $104.4 million, up from $103.3 million. The company noted a 3.6% increase in average effective rent for Same Store properties and completed significant upgrades resulting in a $170 rent premium per unit. NXRT also acquired properties in North Carolina for $121.5 million.
NexPoint Residential Trust (NXRT) will host a conference call on July 27, 2021, at 11:00 a.m. ET to discuss its second quarter financial results. Interested parties can join via phone or access a live audio webcast on the company's website. A replay will be available for 60 days following the call. Additionally, NXRT plans to release its first quarter financial results before market open on the same day. The company focuses on acquiring and operating multifamily properties with value-add potential in major U.S. cities.
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.
NexPoint Residential Trust (NXRT) announced its participation in the Nareit's REITWeek: 2021 Investor Conference, scheduled to take place virtually from June 8-10, 2021. Key executives, including CFO Brian Mitts and CIO Matthew McGraner, will present and engage with investors. Meeting materials will be available on the NXRT website on June 8. The company focuses on acquiring and operating multifamily properties with value-add potential, primarily in urban areas of the Southeastern and Southwestern U.S.
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