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Dec 31, 2023
NexPoint Residential Q4 2023 Earnings Report
Reported financial results for the fourth quarter and year ended December 31, 2023.
Key Takeaways
NexPoint Residential Trust, Inc. reported a net income of $18.4 million for Q4 2023, compared to $3.8 million for Q4 2022. Total revenues were $68.9 million, slightly lower than the $69.3 million reported in the same quarter of the previous year. Q4 Same Store NOI increased by 4.5% to $39.1 million.
Net income for Q4 2023 totaled $18.4 million, or $0.70 per diluted share.
Total revenues for Q4 2023 were $68.9 million.
Q4 Same Store NOI increased 4.5% to $39.1 million.
FFO totaled $17.8 million, or $0.68 per diluted share for the fourth quarter of 2023.
Forward Guidance
NXRT provided initial 2024 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 projected between $0.59 and $0.85.
- Core FFO per diluted share is expected to range from $2.60 to $2.85.
- Same Store Rental Income is anticipated to grow between 1.4% and 3.2%.
- Same Store Total Revenue is forecasted to increase between 1.1% and 2.9%.
- Interest Rate Swap Settlement is estimated between $45.0 million and $46.3 million.
Challenges Ahead
- Same Store Total Expenses are projected to increase between 4.3% and 6.0%.
- Same Store NOI is expected to range from -2.0% to 2.0%.
- Interest Expense on Mortgage Debt is projected between $(98.9) million and $(100.7) million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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