NexPoint Residential Trust, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
July 25, 2023 at 08:18 am
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NexPoint Residential Trust, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 67.81 million compared to USD 64.15 million a year ago. Revenue was USD 69.57 million compared to USD 65.77 million a year ago. Net loss was USD 3.95 million compared to USD 7.8 million a year ago. Basic loss per share from continuing operations was USD 0.15 compared to USD 0.3 a year ago. Diluted loss per share from continuing operations was USD 0.15 compared to USD 0.3 a year ago.
For the six months, sales was USD 135.35 million compared to USD 123.45 million a year ago. Revenue was USD 138.8 million compared to USD 126.55 million a year ago. Net loss was USD 7.84 million compared to USD 12.45 million a year ago. Basic loss per share from continuing operations was USD 0.31 compared to USD 0.49 a year ago. Diluted loss per share from continuing operations was USD 0.31 compared to USD 0.49 a year ago.
NexPoint Residential Trust, Inc. is a real estate investment trust (REIT). The Company is primarily focused on acquiring, owning and operating well-located middle-income multifamily properties with value-add potential in large cities and suburban submarkets of large cities, primarily in the Southeastern and Southwestern United States. The Companyâs investment objectives are to maximize the cash flow and value of properties owned, acquire properties with cash flow growth potential, provide quarterly cash distributions and achieve long-term capital appreciation for its stockholders through targeted management and a value-add program. The Company may allocate up to 30% of the portfolio to investments in real estate-related debt and securities with the potential for high current income or total returns. These allocations may include first and second mortgages and subordinated, bridge, mezzanine, construction and other loans. It is externally managed by NexPoint Real Estate Advisors, L.P.
NEXPOINT RESIDENTIAL TRUST, INC. 
