Nexpoint Residential Trust, Inc. Reports Earnings Results for the Third Quarter Ended September 30, 2020
October 27, 2020 at 07:38 am EDT
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NexPoint Residential Trust, Inc. announced earnings results for the third quarter ended September 30, 2020. For the third quarter, the company announced total revenue was USD 50.990 million compared to USD 46.833 million a year ago. Operating income was USD 36.004 million compared to USD 131.933 million a year ago. Net income was USD 29.552 million compared to USD 118.747 million a year ago. Basic earnings per share was USD 1.21 compared to USD 4.93 a year ago. Diluted earnings per share was USD 1.19 compared to USD 4.84 a year ago. For the nine months, total revenue was USD 154.252 million compared to USD 131.390 million a year ago. Operating income was USD 78.203 million compared to USD 142.251 million a year ago. Net income was USD 48.217 million compared to USD 112.406 million a year ago. Basic earnings per share was USD 1.95 compared to USD 4.72 a year ago. Diluted earnings per share was USD 1.91 compared to USD 4.63 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. 
