NexPoint Residential Trust Reports Q1 2025 Financial Outcomes
NexPoint Residential Trust, Inc. Reports First Quarter 2025 Results
NXRT Accelerates Partial Upgrades and Boosts Core FFO Guidance
NexPoint Residential Trust, Inc. (NYSE:NXRT) reported financial results for the first quarter ended March 31, 2025.
Highlights
- NXRT reported a net loss of $(6.9) million, with FFO of $17.4 million, Core FFO of $19.1 million, and AFFO of $21.6 million, respectively, attributable to common stockholders for the quarter.
- Total revenue from Q1 Same Store properties decreased by 1.0%, with NOI down 3.8% year-over-year.
- The weighted average effective monthly rent per unit across all 35 properties stood at $1,495, with a physical occupancy of 94.4%.
- NXRT distributed its first quarter dividend of $0.51 per common share.
- During Q1, NXRT completed 210 partial upgrades and successfully leased 201 upgraded units, achieving an average monthly rent premium of $62.
- Since inception, NXRT has completed 8,558 upgrades resulting in a significant increase in average monthly rental rates.
First Quarter 2025 Financial Results
- Total revenues were $63.2 million for Q1 2025, compared to $67.6 million for the same period in 2024.
- Net loss attributable to common stockholders for Q1 2025 was $(6.9) million or loss of $(0.27) per diluted share.
- For Q1 2025, NOI was recorded at $37.8 million on 35 properties, down from $41.1 million from the previous year.
- Management indicated that decreases in gain on real estate sales affected the net loss results.
- Q1 FFO totaled $17.4 million or $0.68 per diluted share, while Core FFO reached $19.1 million or $0.75 per diluted share.
- AFFO totaled $21.6 million or $0.84 per diluted share.
Subsequent Events
- The Board approved quarterly dividends of $0.51 per share for stockholders of record on June 16, 2025.
- From April 1, 2025, NXRT purchased 223,109 shares of common stock totaling $7.6 million.
- NexPoint entered into a new five-year $100 million SOFR swap agreement.
Upcoming Earnings Call
NXRT will host a conference call to discuss its financial results for Q1 2025, accessible by dialing 888-660-4430 or +1 646-960-0537 for international callers.
About NexPoint Residential Trust
NexPoint Residential Trust is a publicly traded REIT listed on the New York Stock Exchange under the symbol NXRT. The company focuses on acquiring and operating middle-income multifamily properties with value-add potential in urban and suburban areas, targeting comprehensive enhancement strategies.
Frequently Asked Questions
1. What are the main financial highlights for Q1 2025?
NexPoint reported a net loss of $(6.9) million while achieving an FFO of $17.4 million.
2. How has rental occupancy changed?
Physical occupancy across NXRT's properties was reported at 94.4%, with a slight decrease over the year.
3. What is NXRT's strategy for property upgrades?
During Q1 2025, NXRT completed 210 upgrades, resulting in a rent premium and a solid return on investment.
4. When will the next earnings call be held?
The upcoming earnings call will take place on April 29, 2025, at 11:00 a.m. ET.
5. How does NXRT position itself in the market?
NexPoint focuses on acquiring well-located properties within large urban areas, primarily concentrating on enhancing their value through strategic upgrades.
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