NexPoint Residential Trust Inc.: 2Q Earnings Snapshot
DALLAS (AP) _ NexPoint Residential Trust Inc. (NXRT) on Tuesday reported a key measure of profitability in its second quarter. The results exceeded Wall Street expectations.
The real estate investment trust, based in Dallas, said it had funds from operations of $10.2 million, or 48 cents per share, in the period.
The average estimate of four analysts surveyed by Zacks Investment Research was for funds from operations of 41 cents per share.
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 $1.7 million, or 8 cents per share.
The real estate investment trust posted revenue of $35.7 million in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $35.5 million.
NexPoint Residential Trust Inc. expects full-year funds from operations to be $1.92 per share.
The company’s shares have fallen roughly 1 percent since the beginning of the year. The stock has increased nearly 8 percent in the last 12 months.