NexPoint Residential Trust (NXRT) Reports Q3 AFFO of $0.42

NexPoint Residential Trust (NYSE: NXRT) reported Q3 AFFO of $0.42, versus $0.38 reported last year. Revenue for the quarter came in at $37.1 million versus the consensus estimate of $37.22 million.

• Total revenues were $37.1 million for the period, compared to $33.1 million for the prior year period.
• Net income was $54.1 million for the period, compared to $8.8 million for the prior year period. The change in net income between the periods primarily relates to increases in gain on sales of real estate and same store operating results, both of which were partially offset by increases in depreciation and amortization expense and interest expense. The change in net income between the periods was also due to NXRT\'s acquisition and disposition activity in 2016 and 2017 and the timing of the transactions.
• For the three months ended September 30, 2017, NXRT reported earnings of $2.51 per diluted share, compared to earnings of $0.33 per diluted share for the prior year period.
• NOI¹ increased to $19.5 million for the period, compared to $17.1 million for prior year period.
• Same store NOI¹ increased 9.3% to $13.8 million, over the prior year period.
• FFO¹ totaled $6.8 million, or $0.32 per diluted share, compared to $6.9 million, or $0.32 per diluted share, for the prior year period.
• Core FFO¹ totaled $7.9 million, or $0.37 per diluted share, compared to $7.5 million, or $0.35 per diluted share, for the prior year period.
• AFFO¹ totaled $9.0 million, or $0.42 per diluted share, compared to $8.1 million, or $0.38 per diluted share, for the prior year period.

For earnings history and earnings-related data on NexPoint Residential Trust (NXRT) click here.

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