NexPoint Residential Trust (NXRT) Tops Q4 EPS by 3c, Revenues Miss

NexPoint Residential Trust (NYSE: NXRT) reported Q4 EPS of ($0.17), $0.03 better than the analyst estimate of ($0.20). Revenue for the quarter came in at $50.5 million versus the consensus estimate of $51.16 million.

Fourth Quarter 2020 Financial Results

• Total revenues were $50.5 million for the fourth quarter of 2020, compared to $49.7 million for the fourth quarter of 2019.
• Net loss for the fourth quarter of 2020 totaled $(4.2) million, or a loss of $(0.17) per diluted share, which included $19.9 million of depreciation and amortization expense and $11.0 million of interest expense. This compared to net loss of $(13.3) million, or a loss of $(0.53) per diluted share, for the fourth quarter of 2019, which included $23.4 million of depreciation and amortization expense and $10.7 million of interest expense.
• The change in our net loss between the periods primarily relates to an increase in total revenues, partially offset by increases in interest expense and depreciation and amortization expense.
• For the fourth quarter of 2020, NOI was $28.0 million on 37 properties, compared to $28.3 million for the fourth quarter of 2019 on 40 properties.
• For the fourth quarter of 2020, Q4 Same Store NOI decreased 1.8% to $24.6 million, compared to $25.1 million for the fourth quarter of 2019, which was impacted by a 21.0% increase in real estate tax accruals.
• For the fourth quarter of 2020, FFO totaled $15.7 million, or $0.62 per diluted share, compared to $10.1 million, or $0.39 per diluted share, for the fourth quarter of 2019. For the fourth quarter of 2020, Core FFO totaled $14.2 million, or $0.56 per diluted share, compared to $13.8 million, or $0.54 per diluted share, for the fourth quarter of 2019. For the fourth quarter of 2020, AFFO totaled $15.9 million, or $0.63 per diluted share, compared to $15.0 million, or $0.59 per diluted share, for the fourth quarter of 2019.

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

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