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FOR IMMEDIATE RELEASE
Financial Relations Board
NEXPOINT RESIDENTIAL TRUST, INC. REPORTS FOURTH QUARTER AND FULL YEAR FINANCIAL RESULTS
Dallas, TX, March 8, 2016 NexPoint Residential Trust, Inc. (NYSE:NXRT) reported financial results for the quarter ended December 31, 2015.
Fourth Quarter 2015 Highlights
|||NXRT paid its third quarterly dividend of $0.206 per share of NXRT common stock on December 31, 2015. On March 7, 2016, NXRTs board of directors approved a quarterly dividend of $0.206 per share of NXRT common stock, payable on March 31, 2016 to stockholders of record on March 18, 2016|
|||AFFO1 totaled $7.4 million, or $0.35 per common share, compared to $7.9 million for the third quarter of 2015|
|||FFO¹ totaled $6.9 million, or $0.33 per common share, compared to $7.0 million for the third quarter of 2015|
|||NOI¹ of $16.6 million, including two months for one property acquired during the quarter, compared to $15.7 million for the third quarter of 2015, and $60.4 million for the year ended December 31, 2015|
|||Rental income increased to $28.6 million for the quarter, compared to $27.0 million for the third quarter of 2015|
|||Net loss of $1.9 million, $(0.10) per common share; includes depreciation and amortization of $10.0 million|
|||As of December 31, 2015, weighted average effective monthly rent per unit across all 42 properties, consisting of 13,155 units, was $803, while physical occupancy was 93.9%|
|||NXRT completed upgrades on 552 units during the quarter and 2,313 for the year ended December 31, 2015, inclusive of all full and partial renovations. Since inception, we have completed 2,643 upgrades and achieved a $93 average monthly rental increase per unit, which equates to a 21.5% ROI on all units leased through December 31, 2015|
|1||AFFO, FFO and NOI are non-GAAP measures. For reconciliations of AFFO, FFO and NOI to net income and a discussion of why we consider these non-GAAP measures useful, see the Definitions and Reconciliations section of this release.|
The following information was filed by Nexpoint Residential Trust, Inc. (NXRT) on Tuesday, March 8, 2016 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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