NexPoint Residential Trust (NXRT) Misses Q4 EPS by 42c

NexPoint Residential Trust (NYSE: NXRT) reported Q4 EPS of ($0.53), $0.42 worse than the analyst estimate of ($0.11). Revenue for the quarter came in at $49.7 million versus the consensus estimate of $49.91 million.

Fourth Quarter 2019 Financial Results

• Total revenues were $49.7 million for the fourth quarter of 2019, compared to $39.4 million for the fourth quarter of 2018.
• Net loss for the fourth quarter of 2019 totaled $(13.3) million, or a loss of $(0.53) per diluted share, which included $23.4 million of depreciation and amortization expense and $10.7 million of interest expense. This compared to net loss of $(4.8) million, or a loss of $(0.21) per diluted share, for the fourth quarter of 2018, which included $13.8 million of depreciation and amortization expense and $7.8 million of interest expense.
• The change in our net loss between the periods primarily relates to increases in interest expense and depreciation and amortization expense, partially offset by an increase in total revenues.
• For the fourth quarter of 2019, NOI was $28.3 million on 40 properties, compared to $21.3 million for the fourth quarter of 2018 on 35 properties.
• For the fourth quarter of 2019, Q4 Same Store NOI1 increased 9.3% to $18.8 million, compared to $17.2 million for the fourth quarter of 2018, which was impacted by a 10.3% decrease in real estate taxes.
• For the fourth quarter of 2019, FFO totaled $10.1 million, or $0.39 per diluted share, compared to $9.0 million, or $0.40 per diluted share, for the fourth quarter of 2018. For the fourth quarter of 2019, Core FFO totaled $13.8 million, or $0.54 per diluted share, compared to $9.2 million, or $0.41 per diluted share, for the fourth quarter of 2018. For the fourth quarter of 2019, AFFO totaled $15.0 million, or $0.59 per diluted share, compared to $10.7 million, or $0.47 per diluted share, for the fourth quarter of 2018.

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

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