NYSE$NXRT
NexPoint Residential Trust Inc · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
NXRT reported financial results for the second quarter, generating strong returns on rehab program and taming controllable expense growth.
NexPoint Residential Trust reported a net loss of $(4.0) million for the second quarter of 2023, with total revenues of $69.6 million. Same Store NOI increased by 7.6%. The company completed 505 full and partial upgrades and leased 517 upgraded units, achieving an average monthly rent premium of $224 and a 20.9% ROI.
- Net Loss, FFO, Core FFO and AFFO of $(4.0)M, $19.8M, $20.4M and $23.2M, respectively, attributable to common stockholders for the quarter ended June 30, 2023.
- Q2 Same Store properties average effective rent, total revenue and NOI increased 7.9%, 7.4% and 7.6%, respectively, and occupancy decreased 60 bps over the prior year period.
- Second quarter dividend of $0.42 per share of common stock was paid on June 30, 2023.
- Weighted average effective monthly rent per unit across all 40 properties was $1,497, while physical occupancy was 93.9%.
Headline financials
Revenue & EPS history
NexPoint Residential · Revenue · Quarterly
$69.6M
Revenue by segment
NexPoint Residential · $69.6M total across 2 segments · Q2 2023
- Rental Income$67.8M—97.5%
- Other Income$1.76M—2.5%
Forward guidance
NXRT is revising guidance ranges for earnings per diluted share, Core FFO per diluted share, Same Store rental income, Same Store total revenue, Same Store total expenses, Same Store NOI, interest expense and its related components, Acquisitions and Dispositions.
Tailwinds
- Earnings per diluted share Mid-Point $5.09
- Core FFO per diluted share Mid-Point $2.98
- Same Store Rental Income 8.9%
- Same Store Total Revenue 8.8%
- Same Store NOI 10.0%
Headwinds
- Interest Expense on Mortgage Debt $(107.1) million
- Interest Expense on Revolver $(5.0) million
- Deferred Financing Cost & Discount Amortization $(2.6) million
- Mark to Market – Fair Value of Rate Caps $(0.5) million
- Total Interest Expense $(67.7) million
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2023
+1.1%
Avg return
Earnings day
+1.6%
Avg return
5 days after
+2.1%
Avg return
30 days after
61%
27 / 44 earnings
Positive
+9.7%
Q2 2018
Best reaction
-10.2%
Q2 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -2.0% | +0.1% | +0.7% | |
| Q4 2025 | -0.2% | -5.1% | -15.4% | |
| Q3 2025 | +2.2% | +0.4% | +4.0% | |
| Q1 2025 | +2.0% | +5.3% | -6.5% | |
| Q3 2024 | -0.7% | -5.2% | +10.4% | |
| Q2 2024 | +0.3% | +1.6% | +8.9% | |
| Q1 2024 | +2.3% | +4.6% | +7.5% | |
| Q4 2023 | -6.5% | -5.7% | +1.2% | |
| Q3 2023 | +0.3% | +12.0% | +13.5% | |
| Q2 2023 | -10.2% | -13.7% | -21.7% | |
| Q1 2023 | -5.0% | -2.0% | -8.0% | |
| Q4 2022 | +1.1% | +0.2% | -17.9% | |
| Q3 2022 | +9.1% | +12.8% | +14.1% | |
| Q2 2022 | -1.6% | +5.7% | -7.4% | |
| Q1 2022 | +3.7% | -0.4% | -19.5% | |
| Q4 2021 | +9.5% | +7.8% | +12.1% | |
| Q3 2021 | +2.4% | +5.6% | +8.8% | |
| Q2 2021 | -2.7% | -3.5% | +0.5% | |
| Q1 2021 | -1.6% | -1.1% | +1.9% | |
| Q4 2020 | -0.2% | -2.5% | +8.0% | |
| Q3 2020 | -1.0% | +0.2% | -2.1% | |
| Q2 2020 | +7.0% | +7.8% | +9.7% | |
| Q1 2020 | +8.4% | -2.4% | +24.0% | |
| Q4 2019 | -2.8% | -3.4% | -28.3% | |
| Q3 2019 | +3.4% | +3.3% | +2.1% | |
| Q2 2019 | +1.0% | +3.2% | +8.0% | |
| Q1 2019 | +3.7% | +5.9% | +8.8% | |
| Q4 2018 | -2.6% | -0.8% | -3.5% | |
| Q3 2018 | +1.7% | -4.6% | +4.0% | |
| Q2 2018 | +9.7% | +13.2% | +16.0% | |
| Q1 2018 | +1.0% | +2.9% | +3.5% | |
| Q4 2017 | -4.3% | -2.6% | +2.7% | |
| Q3 2017 | +7.7% | +14.7% | +20.9% | |
| Q2 2017 | -4.9% | -3.6% | -7.1% | |
| Q1 2017 | +1.1% | +0.0% | +0.1% | |
| Q4 2016 | -1.6% | +1.0% | +7.5% | |
| Q3 2016 | +3.6% | +6.9% | +11.7% | |
| Q2 2016 | +1.9% | +3.3% | +7.5% | |
| Q1 2016 | +1.3% | — | — | |
| Q4 2015 | -1.1% | — | — | |
| Q3 2015 | +2.9% | — | — | |
| Q4 2014 | +5.7% | — | — | |
| Q2 2015 | +5.2% | — | — | |
| Q1 2015 | +1.5% | — | — | |
| Q3 2014 | — | — | — | |
| Q2 2014 | — | — | — | |
| Q1 2014 | — | — | — |
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