NexPoint Residential Trust (NXRT) Tops Q2 EPS by 4c, Revenues Miss

NexPoint Residential Trust (NYSE: NXRT) reported Q2 EPS of ($0.38), $0.04 better than the analyst estimate of ($0.42). Revenue for the quarter came in at $50.7 million versus the consensus estimate of $51.07 million.

Second Quarter 2020 Financial Results

• Total revenues were $50.7 million for the second quarter of 2020, compared to $43.1 million for the second quarter of 2019.
• Net loss for the second quarter of 2020 totaled $(9.3) million, or loss of $(0.38) per diluted share, which included $21.4 million of depreciation and amortization expense. This compared to a net loss of $(2.0) million, or a loss of $(0.08) per diluted share, for the second quarter of 2019, which included $13.1 million of depreciation and amortization expense.
• The change in our net loss of $(9.3) million for the three months ended June 30, 2020 as compared to our net loss of $(2.0) million for the three months ended June 30, 2019 primarily relates to an increase in total expenses and an increase in interest expense partially offset by an increase in total revenues.
• For the second quarter of 2020, NOI was $29.2 million on 37 properties, compared to $24.6 million for the second quarter of 2019 on 39 properties.
• For the second quarter of 2020, Q2 Same Store NOI increased 5.8% to $20.2 million, compared to $19.1 million for the second quarter of 2019.
• For the second quarter of 2020, FFO totaled $12.0 million, or $0.50 per diluted share, compared to $11.0 million, or $0.46 per diluted share, for the second quarter of 2019.
• For the second quarter of 2020, Core FFO totaled $14.5 million, or $0.59 per diluted share, compared to $11.0 million, or $0.45 per diluted share, for the second quarter of 2019.
• For the second quarter of 2020, AFFO totaled $16.1 million, or $0.66 per diluted share, compared to $12.9 million, or $0.53 per diluted share, for the second quarter of 2019.

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

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