Nexpoint Residential Tr Inc Stock Price, News & Analysis

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.

NexPoint Residential Trust (NXRT) announced a conference call scheduled for February 21, 2023, at 11:00 a.m. ET to discuss its fourth quarter 2022 financial results. The company will release its financial results before the market opens on the same day. The conference call can be accessed via phone or online webcast, and a replay will be available until March 7, 2023. NXRT focuses on acquiring and operating middle-income multifamily properties in large cities, primarily in the Southeastern and Southwestern U.S. More information is available on their website.

NexPoint Residential Trust (NXRT) has successfully closed the sale of Hollister Place in Houston, TX, for $20.6 million after acquiring it for $24.5 million in 2017. The property, boasting a 93.07% occupancy and a monthly rent of approximately $1,200, delivered strong financial metrics, including a 4.37% cap rate and a 2.02x equity multiple. The company aims to utilize proceeds from this and upcoming property sales, projected to yield $62-64 million, to continue debt reduction efforts, including a significant $25.6 million payment on its credit facility. NXRT anticipates resolving its corporate credit facility balance by Q2 2023, enhancing liquidity and strategic flexibility for growth opportunities.

NexPoint Residential Trust (NXRT) announced the closing of 18-property mortgage refinancings totaling $807.6 million through KeyBank and Freddie Mac, representing approximately 47.7% of its total debt. This refinancing improves interest rates significantly (SOFR + 155 bps) and extends the weighted average debt maturity to 6.34 years, with only 5.5% of total debt maturing through 2024. NXRT anticipates lower overall interest rates, reducing it to 3.25% after swaps. These actions enhance liquidity and de-risk the balance sheet, with no significant debt maturities until 2025.

NexPoint Residential Trust (NYSE: NXRT) announced a quarterly dividend of $0.42 per share, payable on December 30, 2022, to shareholders of record on December 15, 2022. This dividend reflects a 10.5% increase from the previous quarter and marks a substantial 103.9% increase since its inception in 2015. The company continues to focus on acquiring and operating multifamily properties in prominent markets across the Southeastern and Southwestern United States.

NexPoint Residential Trust (NXRT) reported strong operational performance for Q3 2022, with total revenues of $68.1 million, up from $56.4 million in Q3 2021. The company's net loss narrowed to $(0.6) million, compared to $(5.4) million in the prior year. FFO reached $24.5 million, marking a significant increase from $16.1 million in Q3 2021. The board approved a 10.5% dividend increase to $0.42 per share. Additionally, NXRT is extending its share repurchase program to $100 million by October 2024.