The earnings call presented a mixed picture, with significant achievements in refinancing and dividend growth but faced challenges with a net loss and declining same-store NOI. Occupancy improvements and successful property sales were positive, but increased operating expenses and a decrease in same-store rent weighed heavily on performance.
Company Guidance
During the NXRT Q3 2024 earnings call, the company provided guidance updates reflecting a cautiously optimistic outlook. The guidance for 2024 earnings per diluted share was revised to a range of a $0.01 loss to a $0.07 gain, with a midpoint of $0.03 per share. Core FFO per diluted share was updated to a range of $2.74 to $2.82, with a midpoint of $2.78, an increase from the previous $2.72. The company reaffirmed its guidance for revenue, projecting a 1.3% to 2.2% increase. Expenses were expected to increase by 3% to 4.4%, and same-store NOI guidance was set with a range from a negative 0.6% to a positive 1.6%. The company projected no acquisitions and maintained its disposition guidance at $167 million. Additionally, NXRT highlighted the impact of refinancing activities, which are expected to reduce the weighted average interest rate on total debt by 48 basis points to 6.1%, before considering interest rate swap contracts, further reducing it to 3.16%.
Dividend Increase
The board approved a quarterly dividend of $0.51 per share, representing a 10.3% increase from the prior dividend. Since inception, NXRT has increased the dividend per share by 147.6%.
Refinancing Success
NXRT entered into loan agreements for a total of $1.67 billion, reducing the weighted average interest rate on total debt by 48 basis points to 6.1% and extending the average debt maturity to 7 years.
Occupancy Growth
Same-store occupancy grew to 94.9% from the previous quarter, indicating improved property utilization.
Successful Property Sale
Sold Stone Creek at Old Farm in Houston with net proceeds of $3.7 million, delivering a 14.8% levered IRR and a 2.19x multiple on invested capital.
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NexPoint Residential (DE:5O4) Earnings, Revenues Date & History
The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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DE:5O4 Earnings-Related Price Changes
Report Date
Price 1 Day Before
Price 1 Day After
Percentage Change
Oct 29, 2024
€38.95
€38.55
-1.02%
Jul 30, 2024
€38.35
€38.74
+1.02%
Apr 30, 2024
€29.36
€29.36
0.00%
Feb 20, 2024
€26.82
€27.00
+0.71%
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does NexPoint Residential Trust Inc (DE:5O4) report earnings?
NexPoint Residential Trust Inc (DE:5O4) is schdueled to report earning on Feb 25, 2025, TBA Not Confirmed.
What is NexPoint Residential Trust Inc (DE:5O4) earnings time?
NexPoint Residential Trust Inc (DE:5O4) earnings time is at Feb 25, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.