NexPoint Residential Trust Inc.: 4Q Earnings Snapshot
DALLAS (AP) _ NexPoint Residential Trust Inc. (NXRT) on Tuesday reported a key measure of profitability in its fourth quarter. The results did not meet Wall Street expectations.
The real estate investment trust, based in Dallas, said it had funds from operations of $10.7 million, or 47 cents per share, in the period.
The average estimate of four analysts surveyed by Zacks Investment Research was for funds from operations of 51 cents per share.
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 a loss of $4.8 million, or 21 cents per share.
The real estate investment trust posted revenue of $39.4 million in the period, which topped Street forecasts. Four analysts surveyed by Zacks expected $38.8 million.
For the year, the company reported funds from operations of $40.8 million, or $1.88 per share. Revenue was reported as $146.6 million.
The company’s shares have climbed 9.5 percent since the beginning of the year. The stock has risen 61 percent in the last 12 months.