NexPoint Residential Trust, Inc.
For the period ended Apr 29, 2025. Filed Apr 29, 2025.
View on SEC.govAbout this filing
A notice of a major event between regular reports, such as results, a deal or a change of executives. It is often the first formal record of the news.
Apr 29, 2025 · Filed Apr 29, 2025
Use the contents to explore the available documents and sections.
Contents
EX-99.1 · (Unaudited)
(Unaudited)
| For the Three Months Ended March 31, | ||
|---|---|---|
| 2025 | 2024 | |
| Revenues | ||
| Rental income | $61,440 | $65,598 |
| Other income | 1,776 | 1,979 |
| Total revenues | 63,216 | 67,577 |
| Expenses | ||
| Property operating expenses | 12,468 | 13,768 |
| Real estate taxes and insurance | 9,002 | 9,312 |
| Property management fees (1) | 1,820 | 1,958 |
| Advisory and administrative fees (2) | 1,696 | 1,743 |
| Corporate general and administrative expenses | 4,457 | 4,910 |
| Property general and administrative expenses | 2,000 | 2,281 |
| Depreciation and amortization | 24,350 | 24,323 |
| Total expenses | 55,793 | 58,295 |
| Operating income before gain on sales of real estate | 7,423 | 9,282 |
| Gain on sales of real estate (3) | — | 31,709 |
| Operating income | 7,423 | 40,991 |
| Interest expense | (14,381) | (14,391) |
| Loss on extinguishment of debt and modification cost | — | (546) |
| Casualty gain (loss) | (163) | 199 |
| Equity in earnings of affiliate | 55 | 38 |
| Miscellaneous income | 142 | 111 |
| Net income (loss) | (6,924) | 26,402 |
| Net income (loss) attributable to redeemable noncontrolling interests in the OP | (27) | 104 |
| Net income (loss) attributable to common stockholders | $(6,897) | $26,298 |
| Other comprehensive income (loss) | ||
| Unrealized gains (losses) on interest rate derivatives | (10,172) | 2,683 |
| Total comprehensive income (loss) | (17,096) | 29,085 |
| Comprehensive income (loss) attributable to redeemable noncontrolling interests in the OP | (67) | 115 |
| Comprehensive income (loss) attributable to common stockholders | $(17,029) | $28,970 |
| Weighted average common shares outstanding - basic | 25,448 | 25,721 |
| Weighted average common shares outstanding - diluted | 25,448 | 26,354 |
| Earnings (loss) per share - basic | $(0.27) | $1.02 |
| Earnings (loss) per share - diluted | $(0.27) | $1.00 |
(1)
Fees incurred to an unaffiliated third party that is an affiliate of a noncontrolling limited partner of NexPoint Residential Trust Operating Partnership, L.P. (the "OP").
(2)
Fees incurred to the Company’s adviser.
(3)
$31.7 million with a related party for the three months ended March 31, 2024.
| NXRT.NEXPOINT.COM | Page 10 |
|---|
NOI and Same Store NOI
The following table, which has not been adjusted for the effects of noncontrolling interests, reconciles NOI and our Q1 Same Store NOI for the three months ended March 31, 2025 and 2024 to net income (loss), the most directly comparable GAAP financial measure (in thousands):
| For the Three Months Ended March 31, | |||
|---|---|---|---|
| 2025 · 2024 | |||
| Net income (loss) | $(6,924) | $26,402 | |
| Adjustments to reconcile net income (loss) to NOI: | |||
| Advisory and administrative fees | 1,696 | 1,743 | |
| Corporate general and administrative expenses | 4,457 | 4,910 | |
| Corporate income | (442) | (296) | |
| Casualty-related expenses/(recoveries) | (1) | (656) | 33 |
| Casualty loss (gain) | 163 | (199) | |
| Property general and administrative expenses | (2) | 790 | 988 |
| Depreciation and amortization | 24,350 | 24,323 | |
| Interest expense | 14,381 | 14,391 | |
| Equity in earnings of affiliate | (55) | (38) | |
| Loss on extinguishment of debt and modification costs | — | 546 | |
| Gain on sales of real estate | — | (31,709) | |
| NOI | $37,760 | $41,094 | |
| Less Non-Same Store | |||
| Revenues | (4) | (3,885) | |
| Operating expenses | (22) | 2,015 | |
| Operating income | — | (3) | |
| Same Store NOI | $37,734 | $39,221 | |
(1)
Adjustment to net income (loss) to exclude certain property operating expenses that are casualty-related expenses/(recoveries).
(2)
Adjustment to net income (loss) to exclude certain property general and administrative expenses that are not reflective of the continuing operations of the properties or are incurred on our behalf at the property for expenses such as legal, professional, centralized leasing service and franchise tax fees.
| NXRT.NEXPOINT.COM | Page 11 |
|---|
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.