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Sep 30, 2021
NexPoint Residential Q3 2021 Earnings Report
Reported third quarter 2021 results, increased guidance, boosted quarterly dividend by 11.4% and acquired $74.8 million property in Raleigh, NC.
Key Takeaways
NexPoint Residential Trust reported a net loss of $(5.4) million for the third quarter of 2021. However, the company saw increases in average effective rent, total revenue, and NOI for Q3 Same Store properties, and acquired a $74.8 million property in Raleigh, NC.
Net Loss, FFO, Core FFO and AFFO of $(5.4)M, $16.1M, $16.4M and $18.6M, respectively, attributable to common stockholders for the quarter ended September 30, 2021, compared to Net Income, FFO, Core FFO, and AFFO of $29.6M, $17.2M, $13.3M and $15.1M, respectively, attributable to common stockholders for the quarter ended September 30, 2020.
Q3 Same Store properties average effective rent, total revenue and NOI increased 6.8%, 5.3% and 6.6%, respectively, and occupancy increased 40 bps over the prior year period.
The weighted average effective monthly rent per unit across all 40 properties held as of September 30, 2021, consisting of 15,032 units, was $1,204, while physical occupancy was 95.3%.
On September 10, 2021, NXRT acquired Six Forks Station located in Raleigh, North Carolina for a gross purchase price of $74.76 million.
Forward Guidance
NXRT is providing updated 2021 guidance ranges for earnings per diluted share, Core FFO per diluted share, Same Store rental income, Same Store total revenue, Same Store total expenses, Same Store NOI, acquisitions and dispositions
Historical Earnings Impact
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Avg. Return Before/After Earnings
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