NexPoint Residential Trust (NXRT) Tops Q3 EPS by $1.57, Slight Beat on Revenues

NexPoint Residential Trust (NYSE: NXRT) reported Q3 EPS of $1.19, $1.57 better than the analyst estimate of ($0.38). Revenue for the quarter came in at $51 million versus the consensus estimate of $50.96 million.

Third Quarter 2020 Financial Results

• Total revenues were $51.0 million for the third quarter of 2020, compared to $46.8 million for the third quarter of 2019.
• Net income for the third quarter of 2020 totaled $29.6 million, or income of $1.19 per diluted share, which included $17.7 million of depreciation and amortization expense. This compared to a net income of $119.1 million, or a income of $4.84 per diluted share, for the third quarter of 2019, which included $17.2 million of depreciation and amortization expense.
• The change in our net income of $29.6 million for the three months ended September 30, 2020 as compared to our net income of $119.1 million for the three months ended September 30, 2019 primarily relates to a decrease in gain on sales of real estate, partially offset by an increase in total revenues.
• For the third quarter of 2020, NOI was $28.8 million on 36 properties, compared to $26.1 million for the third quarter of 2019 on 37 properties.
• For the third quarter of 2020, Q3 Same Store NOI increased 4.5% to $19.4 million, compared to $18.6 million for the third quarter of 2019.
• For the third quarter of 2020, FFO totaled $17.2 million, or $0.69 per diluted share, compared to $8.6 million, or $0.35 per diluted share, for the third quarter of 2019.
• For the third quarter of 2020, Core FFO totaled $13.3 million, or $0.53 per diluted share, compared to $11.5 million, or $0.47 per diluted share, for the third quarter of 2019.
• For the third quarter of 2020, AFFO totaled $15.1 million, or $0.60 per diluted share, compared to $13.3 million, or $0.54 per diluted share, for the third quarter of 2019.

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

You May Also Be Interested In

• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
• Optimum Communications gets NYSE non-compliance notice over stock price
• Movano (MOVE) Misses Q2 EPS by 195c