Nexpoint Residential Tr Inc Stock Price, News & Analysis

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.

NexPoint Residential Trust (NYSE:NXRT) reported a net loss of $(9.3) million for Q2 2020, compared to a net loss of $(2.0) million in Q2 2019. Total revenues increased to $50.7 million, up from $43.1 million year-over-year. For the first six months ending June 30, 2020, total revenues were $103.3 million, significantly higher than $84.6 million in the same period last year. The company's AFFO and Core FFO increased to $16.1 million and $14.5 million respectively for Q2 2020. Despite challenges from COVID-19, rent collections were strong at 97.9% for July 2020.

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.

NexPoint Residential Trust (NXRT) will host a conference call on August 4, 2020, at 11:00 a.m. ET to discuss its second quarter financial results and the impact of COVID-19 on operations and rent collections. The financial results will be released before market open on the same day. Investors can access the call by phone or online, with replays available until August 11, 2020. NXRT focuses on middle-income multifamily properties in large cities and suburban markets across the Southeastern and Southwestern United States.