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Dec 31, 2020
NexPoint Residential Q4 2020 Earnings Report
NexPoint Residential Trust's financial performance was recapped, including acquisition and disposition activity, value-add results, and the issue of 2021 full-year guidance.
Key Takeaways
NexPoint Residential Trust, Inc. reported a net loss of $(4.2) million for the fourth quarter of 2020, with total revenues of $50.5 million. The financial results were impacted by depreciation and amortization expense of $19.9 million and interest expense of $11.0 million.
NXRT acquired the Fairways at San Marcos, a 352-unit apartment community in Chandler, Arizona, for approximately $84.5 million.
The weighted average effective monthly rent per unit across all 37 properties was $1,128, with physical occupancy at 94.1%.
NXRT paid a fourth quarter dividend of $0.34125 per share, a 9.2% increase over the prior quarter.
Q4 Same Store NOI decreased 1.8% due to a 21.0% increase in real estate tax accruals.
Forward Guidance
NXRT provided initial 2021 guidance ranges for earnings (loss) per diluted share, Core FFO per diluted share, Same Store rental income, Same Store total revenue, Same Store total expenses, and Same Store NOI as follows:
Positive Outlook
- Rental Income 4.1 %
- Rental Income 4.7 %
- Rental Income 5.4 %
- Total Revenue 3.9 %
- Total Revenue 4.5 %
Challenges Ahead
- Total Revenue 5.2 %
- Total Operating Expenses 7.9 %
- Total Operating Expenses 6.6 %
- Total Operating Expenses 5.3 %
- Same Store NOI 0.9 %
Historical Earnings Impact
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Avg. Return Before/After Earnings
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