Loading...
•
Dec 31, 2022
NexPoint Residential Q4 2022 Earnings Report
Reported results for the fourth quarter and full year 2022.
Key Takeaways
NexPoint Residential Trust, Inc. reported financial results for the fourth quarter and year ended December 31, 2022, featuring a net income of $3.8 million for the quarter.
Completed the sale of Hollister Place for $36.8 million during the fourth quarter.
Paid down $260.5 million of principal on its corporate credit facility in Q4 and extended the maturity date to June 30, 2025.
Paid a fourth quarter dividend of $0.42 per share of common stock on December 30, 2022, a 10.5% increase over the prior quarter’s dividend.
Total revenues were $69.3 million for the fourth quarter of 2022, compared to $58.5 million for the fourth quarter of 2021.
Forward Guidance
NXRT provided initial 2023 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, interest expense and its related components and Acquisitions and Dispositions.
Positive Outlook
- Earnings per diluted share is expected to be between $0.90 and $1.26.
- Core FFO per diluted share is expected to be between $2.92 and $3.27.
- Same Store Rental Income is expected to grow between 10.5% and 12.6%.
- Total Revenue is expected to grow between 9.9% and 11.9%.
- Total Expenses are expected to grow between 10.3% and 11.2%.
Challenges Ahead
- Interest Expense on Mortgage Debt is expected to be between $(98.0) million and $(109.5) million.
- Interest Expense on Revolver is expected to be between $(2.0) million and $(2.2) million.
- Deferred Financing Cost & Discount Amortization is expected to be $(3.0) million.
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...