Loading...
•
Sep 30, 2020
NexPoint Residential Q3 2020 Earnings Report
Reported third quarter 2020 results, demonstrating resilience in sunbelt affordable housing portfolio and approving a dividend increase.
Key Takeaways
NexPoint Residential Trust reported a net income of $29.6 million for Q3 2020, with same-store NOI increasing by 4.5%. The board approved a 9.2% increase in the quarterly dividend, reflecting the portfolio's strength.
Net Income, FFO, Core FFO and AFFO attributable to common stockholders were $29.6M, $17.2M, $13.3M and $15.1M, respectively.
Q3 Same Store properties average effective rent, total revenue and NOI increased 1.8%, 3.3% and 4.5%, respectively, and occupancy increased 170 bps over the prior year period.
The weighted average effective monthly rent per unit across all 36 properties was $1,122, while physical occupancy was 95.0%.
NXRT disposed of Eagle Crest for a sales price of $55.5 million and net cash proceeds of $25.0 million.
Revenue by Geographic Location
Forward Guidance
Due to uncertainties related to COVID-19, the Company continues to withhold its full-year 2020 guidance outlook.
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
Loading earnings performance data...
Loading earnings reaction data...