DALLAS (AP) — DALLAS (AP) — NexPoint Residential Trust Inc. (NXRT) on Tuesday reported a key measure of profitability in its second quarter.

The Dallas-based real estate investment trust said it had funds from operations of $23.2 million, or 88 cents per share, in the period.

Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.

The company said it had a loss of $4 million, or 15 cents per share.

The real estate investment trust, based in Dallas, posted revenue of $69.6 million in the period, falling short of Street forecasts. Three analysts surveyed by Zacks expected $71.1 million.

NexPoint Residential Trust Inc. expects full-year funds from operations to be $3.40 per share.

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