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 Dallas-based real estate investment trust said it had funds from operations of $12.9 million, or 53 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 $2 million, or 8 cents per share.
The real estate investment trust posted revenue of $43.1 million in the period, which beat Street forecasts. Four analysts surveyed by Zacks expected $43 million.
The company’s shares have climbed 22% since the beginning of the year. The stock has climbed 54% in the last 12 months.