Welcome to our dedicated page for Nexpoint Residential Tr news (Ticker: NXRT), a resource for investors and traders seeking the latest updates and insights on Nexpoint Residential Tr 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) reported Q4 and full-year 2020 financial results. For the year, net income was $44.0M with FFO of $57.2M, marking increases from 2019. Same store properties saw revenue rise 3.6% and NOI increased 3.2%, despite a slight occupancy decline. The company acquired a 352-unit apartment community for about $84.5M. NXRT issued approximately 1.3M shares raising $59.5M via its ATM program. A dividend of $0.34125 per share was paid, a 9.2% increase from the previous quarter. Q4 net loss was $(4.2)M, despite total revenues of $50.5M.
NexPoint Residential Trust (NYSE: NXRT) has announced its final income allocations for the 2020 dividend distributions on common stock, totaling $1.2787 per share. Key dates include the ex-dividend date on 12/14/2020, record date on 12/15/2020, and payable date on 12/31/2020. The dividend distribution consists of $0.3413 per share, with $0.0675 classified as taxable ordinary income. The company advises shareholders to consult tax advisors regarding the implications of these dividends.
NexPoint Residential Trust (NXRT) is set to host a conference call on February 16, 2021, at 11:00 a.m. ET to discuss its fourth quarter and full year 2020 financial results. Interested parties can join the call by dialing 800-437-2398 (international callers: +1 323-289-6576) using passcode 7677037. A live audio webcast will also be available on the Company's website. The earnings press release will be issued before market open on the same day.
NexPoint Residential Trust (NXRT) announced that key executives will present at the Nareit's REITWorld: 2020 Investor Conference from November 17-19, 2020. Participants include Brian Mitts (CFO), Matthew McGraner (CIO), and Bonner McDermett (VP – Asset Management). Meeting materials will be available on NXRT's Investor Relations website on the morning of November 17. NXRT focuses on acquiring and operating middle-income multifamily properties with value-add potential, primarily in large cities of the Southeastern and Southwestern U.S.
NexPoint Residential Trust, Inc. (NYSE: NXRT) announced a 9.2% increase in its quarterly dividend, declaring $0.34125 per share. The dividend is payable on December 31, 2020 to shareholders of record as of December 15, 2020. This decision reflects the board's confidence in the company's ongoing business strategy focused on acquiring and managing middle-income multifamily properties in the Southeastern and Southwestern United States. The increase in dividend aims to enhance shareholder income.
NexPoint Residential Trust (NYSE:NXRT) reported its Q3 2020 financials with notable changes. Net income totaled $29.6M, down from $119.1M in Q3 2019. Funds from Operations (FFO) increased to $17.2M, compared to $8.6M the previous year. Revenue rose to $51.0M, a 3.3% increase year-over-year. Average effective rent increased by 1.8%, while occupancy improved by 170 bps. NXRT declared a $0.34125 dividend, marking a 9.2% increase. However, the company highlighted uncertainties from the COVID-19 pandemic impacting future operations.
NexPoint Residential Trust (NXRT) announced a conference call scheduled for October 27, 2020 at 11:00 a.m. ET to discuss its third-quarter financial results. The call can be accessed by dialing 800-367-2403, with an international option available. A live audio webcast will be hosted on their website, and a replay will be accessible for 60 days following the call. NXRT's press release detailing the financial results will be issued before market open on the same day. The company focuses on acquiring and operating middle-income multifamily properties in major U.S. cities.
NexPoint Residential Trust (NYSE:NXRT) reported that its apartment communities in Houston, TX, remain unharmed following Hurricane Laura. The company stated there is no material damage to its properties and plans to offer more updates if any significant changes occur. NXRT focuses on acquiring and managing multifamily properties with potential for value addition, particularly in large cities across the Southeastern and Southwestern regions of the United States.
NexPoint Residential Trust (NXRT) reported that as of August 16, 2020, it has collected 96.9% of billed rents for August, slightly down from 97.3% in the same period last year. The company experienced strong collections in Phoenix (99.2%), Nashville (99.1%), and Houston (98.2%). Previous months showed collections of 97.3% in June and 95.3% in July. NXRT continues to educate residents about housing assistance amidst the COVID-19 crisis while adhering to safety guidelines. The company is focused on middle-income multifamily properties in key U.S. markets.
NexPoint Residential Trust (NYSE: NXRT) announced a quarterly dividend of $0.3125 per share, payable on September 30, 2020, to shareholders of record on September 15, 2020. The company focuses on acquiring and operating middle-income multifamily properties, particularly in large cities across the Southeastern and Southwestern U.S. This dividend declaration reflects NXRT’s commitment to returning value to its investors amidst its strategy of enhancing its real estate portfolio.
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