The following is a summary of the NexPoint Residential Trust, Inc. (NXRT) Q2 2024 Earnings Call Transcript:

Financial Performance:

• NexPoint Residential Trust, Inc. (NXRT) reported Q2 2024 net income of $10.6 million, or $0.40 per diluted share, on total revenue of $64 million.

• This performance includes an $18.7 million gain from the sale of Radbourne Lake.

• Core FFO for the quarter was $18 million, or $0.68 per diluted share, reflecting a decrease from $0.77 per diluted share in Q2 2023.

• The company paid a second quarter dividend of $0.46 per share and completed the sale of Radbourne Lake for $39.25 million, generating $18.6 million in net sales proceeds.

Business Progress:

• NexPoint completed several full and partial property upgrades, achieving significant rental increase and returns on investment.

• The company also retired $14.6 million of its common stock and retired a $15.3 million mortgage on the Stone Creek at Old Farm property, enhancing its financial position.

• Looking ahead, NexPoint has plans for refinancing a portion of its portfolio to improve financial metrics and extend debt maturities.

Opportunities:

• With the reduction in annual housing starts to their lowest in ten years and decreasing supply in major markets, NexPoint sees an opportunity to leverage market dynamics to support rent growth and asset value appreciation.

Risks:

• Potential challenges in achieving rent growth due to market resistances and the focus on maintaining high occupancy to drive revenue.

More details: NexPoint Residential Trust Inc IR

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