NEXPOINT RESIDENTIAL TRUST, INC. DALLAS, June 8, 2021 /PRNewswire/ -- NexPoint Residential Trust, Inc. ("NXRT" or the "Company") (NYSE: NXRT) posted a presentation to its website this morning in connection with Nareit's REITWeek Investor Conference. The presentation is available on NXRT's website at www.nxrt.nexpoint.com under "Resources."
Management will be participating in a round table discussion on Wednesday, June 9, at 11:00 AM Eastern Time. The event will be webcast live in a listen-only mode and can be accessed by registering for the event on Nareit's website.
Additionally, Management provided the following operating updates as of May 31, 2021. As of June 7, 2021, NXRT's average monthly rent was $1,149 per unit and the portfolio was 95.6% occupied1.
Collections Total Portfolio (13,976 units2) | May 2021 | April 2021 | Q1 2021 |
Cash collections as % of scheduled rent | 97.9% | 97.9% | 99.0% |
% of units requesting assistance | 0.8% | 1.3% | 1.2% |
Breakdown of units requesting assistance | |||
% of units paid full rent | 84.1% | 92.1% | 94.9% |
% of units paid partial rent | 11.2% | 4.6% | 3.3% |
% of units paid no rent | 4.6% | 3.3% | 1.8% |
% of units delinquent and not requesting assistance3 | 15.5% | 7.3% | 4.8% |
Operating Statistics Same-Store Portfolio (13,564 units) | May 2021 | April 2021 | Q1 2021 |
Cash collections as % of scheduled rent | 97.8% | 97.0% | 98.0% |
New lease tradeouts | +13.7% | +10.6% | +3.8% |
Renewal tradeouts | +5.8% | +5.2% | +2.3% |
Financial occupancy | 94.6% | 94.4% | 94.1% |
Physical occupancy 2,4 | 95.4% | 95.1% | 94.8% |
About NexPoint Residential Trust, Inc.
NexPoint Residential Trust, Inc. is a publicly traded REIT, with its shares listed on the New York Stock Exchange under the symbol "NXRT," primarily focused on acquiring, owning and operating well-located middle-income multifamily properties with "value-add" potential in large cities and suburban submarkets of large cities, primarily in the Southeastern and Southwestern United States. NXRT is externally advised by NexPoint Real Estate Advisors, L.P., an affiliate of NexPoint Advisors, L.P., an SEC-registered investment advisor, which has extensive real estate experience. More information about NXRT is available at nxrt.nexpoint.com.
Contact:
NexPoint Residential Trust, Inc.
Investor Relations
Jackie Graham
jgraham@nexpoint.com
Media Inquiries: MediaRelations@nexpoint.com
1As of June 7, 2021.
2Total units owned Is 14,205. However, 249 units were down due to fires, a tornado, and Winter Storm Uri through May 2021.
3Represents units that had greater than $250 in delinquency balance. May 2021 had the lowest amount of payment plans since being offered.
4Physical occupancy is the average daily occupancy for each period.
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SOURCE NexPoint Hospitality Trust, Inc.
