NexPoint Residential Trust Inc
For the period ended Mar 31, 2024. Filed May 3, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 3, 2024
NXRT$15.79+0.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Unaudited Statements of Cash Flows for the
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
| For the Three Months Ended March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash flows from operating activities | ||
| Net income (loss) | $26,402 | $(3,898) |
| Adjustments to reconcile net loss to net cash provided by operating activities: | ||
| Gain on sales of real estate with related party | (31,709) | — |
| Depreciation and amortization | 24,323 | 23,266 |
| Amortization/write-off of deferred financing costs | 1,263 | 645 |
| Change in fair value on derivative instruments included in interest expense | (13,533) | (9,175) |
| Net cash received on derivative settlements | 14,007 | 9,871 |
| Amortization/write-off of fair value adjustment of assumed debt | (26) | (27) |
| Provision for bad debts, net | 1,172 | 2,325 |
| Vesting of stock-based compensation | 2,547 | 1,966 |
| Insurance proceeds received for business interruption | 538 | — |
| Equity in earnings of affiliate | (38) | — |
| Casualty gain (loss) | (107) | 202 |
| Changes in operating assets and liabilities, net of effects of sales and acquisitions: | ||
| Accounts receivable | (1,363) | (3,748) |
| Prepaid and other assets | 1,938 | 2,323 |
| Operating liabilities | (2,116) | 2,750 |
| Real estate taxes payable | (3,611) | 1,423 |
| Net cash provided by operating activities | 19,687 | 27,923 |
| Cash flows from investing activities | ||
| Net proceeds from sales of real estate | 102,704 | — |
| Insurance proceeds received from casualty losses | 1,032 | 1,494 |
| Additions to real estate investments | (9,567) | (17,999) |
| Net cash provided by (used in) investing activities | 94,169 | (16,505) |
| Cash flows from financing activities | ||
| Mortgage proceeds received | — | 42,788 |
| Mortgage payments | (52,958) | (28,181) |
| Credit facilities payments | (24,000) | (17,500) |
| Deferred financing costs received (paid) | — | 61 |
| Interest rate cap fees paid | (118) | (215) |
| Prepayment penalties on extinguished debt | (529) | (285) |
| Payments for taxes related to net share settlement of stock-based compensation | — | (1,494) |
| Dividends paid to common stockholders | (12,733) | (11,267) |
| Distributions to redeemable noncontrolling interests in the Operating Partnership | (48) | (49) |
| Net cash used in financing activities | (90,386) | (16,142) |
| Net increase (decrease) in cash, cash equivalents and restricted cash | 23,470 | (4,724) |
| Cash, cash equivalents and restricted cash, beginning of period | 45,279 | 51,799 |
| Cash, cash equivalents and restricted cash, end of period | $68,749 | $47,075 |
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
| Supplemental Disclosure of Cash Flow Information | ||
|---|---|---|
| Interest paid | $27,555 | $24,071 |
| Supplemental Disclosure of Noncash Activities | ||
| Issuance of operating partnership units for purchase of noncontrolling interests | — | 415 |
| Adjustment to reflect redemption value of redeemable noncontrolling interests in the OP | 231 | (141) |
| Capitalized construction costs included in accounts payable and other accrued liabilities | 3,792 | 5,091 |
| Change in fair value on derivative instruments designated as hedges | 2,683 | (17,206) |
| Decrease in dividends payable upon vesting of restricted stock units | (453) | (327) |
| Write-off of assets due to casualty losses | — | 1,751 |
| Write-off of deferred financing costs | 16 | 38 |
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