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Jun 30, 2022
NexPoint Residential Q2 2022 Earnings Report
Reported strong revenue growth and accelerated rehab pace for the quarter.
Key Takeaways
NexPoint Residential Trust, Inc. reported financial results for the second quarter ended June 30, 2022, with strong revenue growth and accelerated rehab pace. Total revenues were $65.8 million, compared to $52.6 million for the second quarter of 2021. Net loss totaled $(7.8) million, or loss of $(0.30) per diluted share. For the second quarter of 2022, NOI was $38.8 million on 41 properties, compared to $30.2 million for the second quarter of 2021 on 39 properties.
Net Loss, FFO, Core FFO and AFFO of $(7.8)M, $17.6M, $20.3M and $22.7M, respectively, attributable to common stockholders for the quarter ended June 30, 2022.
Q2 Same Store properties average effective rent, total revenue and NOI increased 19.2%, 14.2% and 16.4%, respectively, and occupancy decreased 150 bps over the prior year period.
The weighted average effective monthly rent per unit across all 41 properties held as of June 30, 2022 was $1,387, while physical occupancy was 94.5%.
During the second quarter, NXRT repurchased and retired 69,567 shares at a weighted average price of $73.82 per share.
Revenue by Geographic Location
Forward Guidance
NXRT is providing updated 2022 guidance ranges for earnings per diluted share, Same Store rental income, Same Store total revenue, Same Store total expenses, and Same Store NOI.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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