Nexpoint Residential Tr Inc Stock Price, News & Analysis

NexPoint Residential Trust (NYSE:NXRT) reported Q3 2024 financial results, showing a net loss of $(8.9)M compared to net income of $33.7M in Q3 2023. Total revenues were $64.1M, down from $69.8M year-over-year. The company reported improvements in same-store occupancy (+100 bps) but saw decreases in average effective rent (-1.8%) and NOI (-2.4%). Key developments include a 10.3% increase in quarterly dividend to $0.51 per share, refinancing of 17 properties for $813.5M, and completion of a $24.5M property sale. The board authorized a new $100M share repurchase program.

NexPoint Residential Trust (NYSE: NXRT) has announced a 10.3% increase in its quarterly dividend. The company will pay $0.51 per share to stockholders of record on December 13, 2024, with payment scheduled for December 31, 2024. This dividend increase represents a significant growth of 147.6% since the company's inception in 2015.

NexPoint Residential Trust, Inc. (NYSE: NXRT) has reported that its properties have emerged unscathed from Hurricane Milton. The company stated that none of its properties suffered any material damages due to the hurricane. NXRT has committed to providing further updates should there be any significant changes to this situation. This announcement serves to reassure investors and stakeholders about the integrity of NXRT's property portfolio in the wake of the recent hurricane.

NexPoint Residential Trust (NXRT) announced several key developments:

• Completion of 17 property mortgage refinancings with JP Morgan and Freddie Mac, with 17 more expected to close on November 29th
• Total gross proceeds of $1.466 billion, representing ~97.7% of NXRT's total outstanding debt
• Improved interest rate pricing at SOFR + 109 bps
• Extension of weighted average debt maturity to ~7.0 years from ~5.69 years
• Reduction of weighted average interest rate on total debt by 48 bps to 6.21%
• Sale of Stone Creek at Old Farm property in Houston for net proceeds of $23.7M
• Announcement of Q3 2024 earnings call on October 29, 2024

These refinancings are expected to strengthen NXRT's balance sheet and improve its financial position.

NexPoint Residential Trust, Inc. (NXRT) has reported that its properties were not materially impacted by Hurricane Helene. The company, which trades on the New York Stock Exchange under the ticker symbol NXRT, made this announcement on September 30, 2024. NXRT has committed to providing further updates if there are any significant changes to this situation.

NexPoint Residential Trust (NYSE:NXRT) reported strong Q2 2024 results, with net income of $10.6 million, compared to a net loss of $4.0 million in Q2 2023. The company raised its full-year 2024 guidance and reported $39.25 million in disposition activity and $14.6 million in share repurchases. Key highlights include:

- Q2 Same Store properties saw a 2.3% increase in total revenue and a 2.4% increase in NOI
- Completed the sale of Radbourne Lake for $39.3 million, resulting in an $18.8 million gain
- Paid off a $15.3 million mortgage on Stone Creek at Old Farm
- Repurchased and retired 438,678 shares at an average price of $33.19 per share
- Paid a Q2 dividend of $0.46242 per share

NXRT also announced plans to refinance portfolio-level debt, aiming to reduce the average SOFR spread from 158 bps to 100-110 bps, potentially providing a $0.15-$0.20 per share benefit annually through 2027.

NexPoint Residential Trust (NYSE: NXRT) has declared a quarterly dividend of $0.46242 per share of common stock. The dividend is set to be paid on September 30, 2024, to stockholders of record as of September 13, 2024. This announcement, made on July 30, 2024, demonstrates NXRT's commitment to providing regular returns to its shareholders. As a real estate investment trust (REIT) focused on multifamily properties, NXRT's dividend declaration is a key aspect of its investor relations and financial strategy.

NexPoint Residential Trust (NYSE: NXRT) announced a conference call on Tuesday, July 30, 2024, at 11:00 a.m. ET to discuss its second quarter 2024 financial results.

Participants can join the call by dialing 888-660-4430 (domestic) or +1 646-960-0537 (international) using passcode 5001576. The call will also be webcast live on NexPoint's website and a replay will be accessible shortly after the call for 60 days.

A press release detailing the financial results will be issued before market open on July 30, 2024. A replay of the call will be available until August 13, 2024, by dialing 800-770-2030 (domestic) or +1 647-362-9199 (international) and using passcode 5001576.

NexPoint Residential Trust (NXRT) announced today that key executives, including Executive VP and Chief Investment Officer Matthew McGraner, and VPs Bonner McDermett and Sean Jacobson, will participate in Nareit's REITWeek: 2024 Investor Conference. The event will run from June 3-6 at the New York Hilton Midtown. Meeting materials will be available on NXRT's website from June 3, 2024.