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Dec 31, 2021
NexPoint Residential Q4 2021 Earnings Report
NexPoint Residential reported its Q4 2021 financial results, with increased revenues and net income compared to the same period last year.
Key Takeaways
NexPoint Residential Trust, Inc. (NYSE:NXRT) reported a net income of $38.8 million, or $1.50 per diluted share, for the fourth quarter of 2021, compared to a net loss of $(4.2) million, or $(0.17) per diluted share, for the fourth quarter of 2020. Total revenues were $58.5 million for the fourth quarter of 2021, compared to $50.5 million for the fourth quarter of 2020.
NXRT reported net income, FFO, Core FFO and AFFO of $23.0M, $63.6M, $62.5M and $70.9M, respectively, attributable to common stockholders for the year ended December 31, 2021.
NXRT paid a fourth quarter dividend of $0.38 per share of common stock on December 30, 2021; this cash dividend represented a $0.0388 per share, or 11.4% increase, over the prior quarter’s dividend.
During 2021, for the properties in the Portfolio, NXRT completed 1,264 full and partial upgrades, achieving an average monthly rent premium of $175 and a 21.1% ROI.
Total revenues were $58.5 million for the fourth quarter of 2021, compared to $50.5 million for the fourth quarter of 2020.
Forward Guidance
NXRT is providing initial 2022 guidance ranges for earnings per diluted share, Core FFO per diluted share, Same Store rental income, Same Store total revenue, Same Store total expenses, and Same Store NOI.
Positive Outlook
- Earnings per diluted share between $4.05 and $4.25
- Core FFO per diluted share between $2.87 and $3.07
- Same Store Rental Income growth between 10.0% and 11.7%
- Same Store Total Revenue growth between 9.4% and 11.1%
- Same Store NOI growth between 11.0% and 15.0%
Challenges Ahead
- Full Year 2022 guidance forecast includes Same Store growth projections presented above, which takes into effect the forecast dispositions of Old Farm, Stone Creek at Old Farm and Hollister Place, thereby removing those assets from the Full Year 2022 pro forma Same Store pool.
- Weighted average diluted share count estimate for full year 2022 is approximately 26.3 million.
- Same Store NOI and Core FFO are non-GAAP measures.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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