NexPoint Residential Trust (NXRT) Tops Q1 EPS by 3c

NexPoint Residential Trust (NYSE: NXRT) reported Q1 EPS of ($0.27), $0.03 better than the analyst estimate of ($0.30). Revenue for the quarter came in at $51.8 million versus the consensus estimate of $51.95 million.

First Quarter 2021 Financial Results

• Total revenues were $51.8 million for the first quarter of 2021, compared to $52.6 million for the first quarter of 2020.
• Net loss for the first quarter of 2021 totaled $(6.9) million, or loss of $(0.27) per diluted share, which included $20.8 million of depreciation and amortization expense. This compared to net income of $28.0 million, or income of $1.08 per diluted share, for the first quarter of 2020, which included $23.3 million of depreciation and amortization expense.
• The change in our net loss of $(6.9) million for the three months ended March 31, 2021 as compared to our net income of $28.0 million for the three months ended March 31, 2020 primarily relates to decreases in gains on sales of real estate and total revenues, partially offset by decreases in depreciation, interest, and property operating expenses.
• For the first quarter of 2021, NOI was $29.6 million on 37 properties, compared to $30.0 million for the first quarter of 2020 on 37 properties.
• For the first quarter of 2021, Q1 Same Store NOI decreased (0.3)% to $28.3 million, compared to $28.4 million for the first quarter of 2020.
• For the first quarter of 2021, FFO totaled $13.8 million, or $0.55 per diluted share, compared to $12.4 million, or $0.48 per diluted share, for the first quarter of 2020.
• For the first quarter of 2021, Core FFO totaled $14.1 million, or $0.56 per diluted share, compared to $13.6 million, or $0.53 per diluted share, for the first quarter of 2020.
• For the first quarter of 2021, AFFO totaled $16.0 million, or $0.64 per diluted share, compared to $15.3 million, or $0.59 per diluted share, for the first quarter of 2020.

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

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