NexPoint Residential Trust's Q3 Adjusted Funds From Operations Rise, Revenue Declines

MT Newswires Live

Oct 29, 2024

NexPoint Residential Trust (NXRT) reported Q3 adjusted funds from operations Tuesday of $0.79 per diluted share, up from $0.78 a year earlier.

Analysts polled by Capital IQ expected $0.72.

Revenue for the quarter ended Sept. 30 was $64.1 million, down from $69.8 million a year earlier.

Analysts surveyed by Capital IQ expected $64.1 million.

The company said it raised its quarterly dividend to $0.51 per share, payable Dec. 31 to shareholders of record as of Dec. 13.

NexPoint Residential Trust also said the board approved a plan to buy back $100 million of its common shares, with the authorization due to expire Oct. 28, 2026.

Price: 42.76, Change: -0.24, Percent Change: -0.56

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