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Mar 31, 2025
NexPoint Residential Q1 2025 Earnings Report
Reported first quarter 2025 results with a net loss and decreases in total revenue and same store NOI compared to the prior year
Key Takeaways
NexPoint Residential Trust, Inc. reported a net loss of $6.9 million for Q1 2025, a significant decrease from net income of $26.3 million in Q1 2024, primarily due to the absence of a large gain on sales of real estate. Total revenue for the quarter was $63.2 million, down from $67.6 million in the prior year period. Same Store NOI also decreased by 3.8%. The company accelerated partial upgrades and boosted Core FFO guidance for the full year.
Net loss attributable to common stockholders was $6.9 million for Q1 2025, compared to net income of $26.3 million for Q1 2024.
Total revenues were $63.2 million for Q1 2025, down from $67.6 million for Q1 2024.
Q1 Same Store properties experienced decreases in total revenue (-1.0%), NOI (-3.8%), average effective rent (-1.3%), and occupancy (-30 bps) compared to the prior year period.
Weighted average effective monthly rent per unit across the portfolio was $1,495 with physical occupancy of 94.4% as of March 31, 2025.
Forward Guidance
The company provided full year 2025 guidance with a mid-point net loss of $31.547 million and mid-point Core FFO per diluted share of $2.75.
Positive Outlook
- Mid-point Core FFO per diluted share guidance of $2.75 for the full year 2025.
- Anticipated full year 2025 NOI of $151.786 million.
- Full year 2025 pro forma Same Store NOI growth expected.
- Mid-point AFFO per diluted share guidance of $3.16 for the full year 2025.
- Entry into a new five-year $100 million SOFR swap with a fixed rate of 3.489%.
Challenges Ahead
- Mid-point net loss guidance of $31.547 million for the full year 2025.
- Mid-point net loss guidance of $8.857 million for the second quarter of 2025.
- Guidance based on specific assumptions including acquisitions and dispositions that may impact actual results.
- Forward-looking statements are subject to risks and uncertainties.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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