NexPoint Residential Trust, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
October 31, 2023 at 08:18 am EDT
Share
NexPoint Residential Trust, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 67.87 million compared to USD 66.5 million a year ago. Revenue was USD 69.84 million compared to USD 68.05 million a year ago. Net income was USD 33.75 million compared to net loss of USD 0.597 million a year ago. Basic earnings per share from continuing operations was USD 1.31 compared to basic loss per share from continuing operations of USD 0.02 a year ago. Diluted earnings per share from continuing operations was USD 1.28 compared to diluted loss per share from continuing operations of USD 0.02 a year ago.
For the nine months, sales was USD 203.22 million compared to USD 189.95 million a year ago. Revenue was USD 208.63 million compared to USD 194.6 million a year ago. Net income was USD 25.91 million compared to net loss of USD 13.05 million a year ago. Basic earnings per share from continuing operations was USD 1.01 compared to basic loss per share from continuing operations of USD 0.51 a year ago. Diluted earnings per share from continuing operations was USD 0.99 compared to diluted loss per share from continuing operations of USD 0.51 a year ago.
NexPoint Residential Trust, Inc. is a real estate investment trust (REIT). The Company is 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. The Companyâs investment objectives are to maximize the cash flow and value of properties owned, acquire properties with cash flow growth potential, provide quarterly cash distributions and achieve long-term capital appreciation for its stockholders through targeted management and a value-add program. The Company may allocate up to 30% of the portfolio to investments in real estate-related debt and securities with the potential for high current income or total returns. These allocations may include first and second mortgages and subordinated, bridge, mezzanine, construction and other loans. It is externally managed by NexPoint Real Estate Advisors, L.P.
NEXPOINT RESIDENTIAL TRUST, INC. 
