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NexPoint Residential Trust Inc.: Q2 Earnings Snapshot
By AP News - Jul 30, 2024, 01:11 PM ET
Last Updated - Jul 30, 2024, 01:11 PM EDT
DALLAS (AP) — DALLAS (AP) — NexPoint Residential Trust Inc. (NXRT) on Tuesday reported a key measure of profitability in its second quarter.
The real estate investment trust, based in Dallas, said it had funds from operations of $20.9 million, or 80 cents per share, in the period.
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Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had net income of $10.6 million, or 40 cents per share.
The real estate investment trust, based in Dallas, posted revenue of $64.2 million in the period, which did not meet Street forecasts. Five analysts surveyed by Zacks expected $65 million.
NexPoint Residential Trust Inc. expects full-year funds from operations to be $3.18 per share.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on NXRT at https://www.zacks.com/ap/NXRT
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