NEXPOINT RESIDENTIAL TRUST, INC. REPORTS FOURTH QUARTER AND FULL YEAR 2024 RESULTS

Core Insights - NexPoint Residential Trust, Inc. (NXRT) reported a net income of $1.1 million for the year ended December 31, 2024, a significant decrease from $44.3 million in 2023, primarily due to lower gains on real estate sales and rental income [5][12] - Total revenues for 2024 were $259.7 million, down from $277.5 million in 2023, reflecting a challenging market environment [12] - The company completed the sale of three properties for a total of $166.8 million during 2024, contributing to its overall financial performance [5] Financial Performance - For the full year 2024, Funds from Operations (FFO) totaled $44.5 million, down from $71.4 million in 2023, while Core FFO was $73.1 million compared to $76.6 million in the previous year [12][15] - The Average Effective Rent per unit across all properties was $1,491, with a physical occupancy rate of 94.7% as of December 31, 2024 [5][12] - The company paid a fourth-quarter dividend of $0.51 per share, marking a 10.3% increase from the previous quarter, and has increased its dividend per share by 147.6% since inception [5][12] Operational Highlights - The Same Store properties experienced a 2.0% increase in total revenue and a 0.9% increase in Net Operating Income (NOI) for 2024 [5][12] - NXRT completed 388 upgrades and installations in 2024, achieving an average monthly rent premium of $153 and a 24.7% return on investment [5] - The company repurchased 438,678 shares at an average price of $33.19 per share, representing a 36% discount to the midpoint of its Q4'24 Net Asset Value [5] Guidance and Future Outlook - For 2025, NXRT anticipates a net loss of approximately $31.5 million, with projected FFO of $64.1 million and Core FFO of $71.1 million [33] - The company expects to maintain its focus on value-add opportunities in middle-income multifamily properties, particularly in the Southeastern and Southwestern United States [13][33]