NexPoint Residential Trust Inc.
11/03/2026 | Press release | Distributed by Public on 11/03/2026 07:33
EARNINGS SUPPLEMENT: THIRD QUARTER 2026 (Form 8-K)
EARNINGS SUPPLEMENT: THIRD QUARTER 2026
NEXPOINT RESIDENTIAL TRUST, INC.
300 CRESCENT COURT, SUITE 700
DALLAS, TX 75201
INVESTOR RELATIONS:
KRISTEN GRIFFITH
NXRT.NEXPOINT.COM
NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]
TABLE OF CONTENTS
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Earnings Release |
1 |
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Cautionary Statement Regarding Forward-Looking Statements |
3 |
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Overview |
4 |
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Highlights of Recent Activity |
5 |
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Financial Summary |
7 |
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2026 Full Year Guidance |
8 |
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Components of Net Asset Value |
9 |
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Consolidated Balance Sheets |
10 |
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Consolidated Statements of Operations |
11 |
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NOI and Same Store NOI |
12 |
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Q3 Same Store Results |
13 |
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Q3 Same Store Properties Operating Metrics |
15 |
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QoQ Same Store Properties Operating Metrics |
16 |
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YTD Same Store Results |
16 |
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FFO, Core FFO and AFFO |
19 |
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Historical Capital Expenditures |
20 |
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Value-Add Program Details |
21 |
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Outstanding Debt Details |
24 |
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Debt Maturity Schedule |
26 |
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Historical Acquisition Details |
27 |
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Historical Disposition Details |
28 |
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Definitions and Reconciliations of Non-GAAP Measures |
29 |
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Sedona at Lone Mountain: Las Vegas, NV |
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Newly renovated Leasing office |
Refreshed Fitness center
NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]
FOR IMMEDIATE RELEASE
Contact:
Investor Relations
Kristen Griffith
(214) 276-6300
Media inquiries: [email protected]
NEXPOINT RESIDENTIAL TRUST, INC. REPORTS THIRD QUARTER 2026 RESULTS
NXRT Reports Third Quarter 2026 Results and Resets Full-Year Same-Store NOI Guidance
Dallas, TX, November 3, 2026 - NexPoint Residential Trust, Inc. (NYSE:NXRT) reported financial results for the third quarter ended September 30, 2026.
Highlights
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NXRT1 reported net loss, FFO2, Core FFO2 and AFFO2 of $11.5M, $11.7M, $13.4M and $16.2M, respectively, attributable to common stockholders for the quarter ended September 30, 2026, compared to net loss, FFO, Core FFO, and AFFO of $7.8M, $15.9M, $17.7M and $20.2M, respectively, attributable to common stockholders for the quarter ended September 30, 2025.
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NXRT reported net loss, FFO, Core FFO and AFFO of $26.9M, $44.3M, $47.6M and $55.4M, respectively, attributable to common stockholders for the nine months ended September 30, 2026, compared to net loss, FFO, Core FFO, and AFFO of $21.8M, $50.2M, $54.8M and $62.1M, respectively, attributable to common stockholders for the nine months ended September 30, 2025.
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For the three months ended September 30, 2026, Q3 Same Store properties3, occupancy decreased 70 bps, total revenue decreased 0.7%, and average effective rent and NOI2 decreased 0.7% and 8.2% over the prior year period.
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For the nine months ended September 30, 2026, YTD Same Store properties3, occupancy decreased 70 bps, total revenue and NOI2 decreased 1.2% and 4.6%, respectively, and average effective rent decreased 0.7% over the prior year period.
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NXRT paid a third quarter dividend of $0.53 per share of common stock on September 30, 2026.
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The weighted average effective monthly rent per unit across all 36 properties held as of September 30, 2026 (the "Portfolio"), consisting of 13,3054 units, was $1,489, while physical occupancy was 92.8%.
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During the third quarter 2026, for the properties in the Portfolio, we completed 708 full and partial upgrades and leased 425 upgraded units, achieving an average monthly rent premium of $42.54 and a 21.1% ROI5.
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Since inception, for the properties currently in the Portfolio, we have completed 11,010 full and partial upgrades, 5,302 kitchen and laundry appliances, and 11,520 technology packages, resulting in a $147, $51, and $43 average monthly rental increase per unit and a 20.7%, 62.7%, and 37.2% ROI, respectively.
1)
In this release, "we," "us," "our," the "Company," and "NXRT" each refer to NexPoint Residential Trust, Inc., a Maryland corporation.
2)
FFO, Core FFO, AFFO and NOI are non-GAAP measures. For a discussion of why we consider these non-GAAP measures useful and reconciliations of FFO, Core FFO, AFFO and NOI to net loss, see the "Definitions and Reconciliations of Non-GAAP Measures," "FFO, Core FFO and AFFO" and "NOI and Same Store NOI" sections of this release.
3)
We define "Same Store" properties as properties that were in our Portfolio for the entirety of the periods being compared. There are 35 properties encompassing 12,980 units of apartment space in our Same Store pool for the three months ended September 30, 2026 (our "Q3 Same Store" properties) and 35 properties encompassing 12,980 units of apartment space in our Same Store pool for the nine months ended September 30, 2026 (our "YTD Same Store" properties). The same store unit count excludes 4 units that are currently down (Residences at West Place: 3 units, Venue at 8651: 1 unit).
4)
Total units owned in our Portfolio is 13,305, however 4 units are currently down (Residences at West Place: 3 units, Venue at 8651: 1 unit).
5)
We define Return on Investment ("ROI") as the sum of the actual rent premium divided by the sum of the total cost.
Third Quarter 2026 Financial Results
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Total revenues were $64.5 million for the third quarter of 2026, compared to $62.8 million for the third quarter of 2025.
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Net loss attributable to common stockholders for the third quarter of 2026 totaled $11.5 million, or loss of $0.45 per diluted share, which included $23.2 million of depreciation and amortization expense. This compared to net loss attributable to common stockholders of $7.8 million, or loss of $0.31 per diluted share, for the third quarter of 2025, which included $23.8 million of depreciation and amortization expense.
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NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]
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The change in our net loss of $11.5 million for the three months ended September 30, 2026 as compared to our net loss of $7.8 million for the three months ended September 30, 2025 primarily relates to an increase in property operating expenses and interest expense of $2.0 million and $2.6 million, respectively, offset by an increase in total revenues of $1.6 million.
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For the third quarter of 2026, NOI was $36.6 million on 36 properties, compared to $38.8 million for the third quarter of 2025 on 35 properties.
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For the third quarter of 2026, Q3 Same Store NOI decreased 8.2% to $35.6 million, compared to $38.8 million for the third quarter of 2025.
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For the third quarter of 2026, FFO totaled $11.7 million, or $0.46 per diluted share, compared to $15.9 million, or $0.63 per diluted share, for the third quarter of 2025.
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For the third quarter of 2026, Core FFO totaled $13.4 million, or $0.52 per diluted share, compared to $17.7 million, or $0.70 per diluted share, for the third quarter of 2025.
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For the third quarter of 2026, AFFO totaled $16.2 million, or $0.63 per diluted share, compared to $20.2 million, or $0.80 per diluted share, for the third quarter of 2025.
2026 Year to Date Financial Results
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Total revenues were $192.6 million for the nine months ended September 30, 2026, compared to $189.2 million for the nine months ended September 30, 2025.
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Net loss attributable to common stockholders for the nine months ended September 30, 2026 totaled $26.9 million, or loss of $1.05 per diluted share, which included $71.4 million of depreciation and amortization expense. This compared to net loss attributable to common stockholders of $21.7 million, or loss of $0.86 per diluted share, for the nine months ended September 30, 2025, which included $72.2 million of depreciation and amortization expense.
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The change in our net loss of $27.0 million for the nine months ended September 30, 2026 as compared to our net loss of $21.8 million for the nine months ended September 30, 2025 primarily relates to an increase in property operating expenses and interest expense of $4.0 million and $4.3 million, respectively, offset by an increase in total revenues of $3.4 million.
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For the nine months ended September 30, 2026, NOI was $112.1 million on 36 properties, compared to $114.6 million for the nine months ended September 30, 2025 on 35 properties.
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For the nine months ended September 30, 2026, YTD Same Store NOI decreased 4.6% to $109.3 million, compared to $114.6 million for the nine months ended September 30, 2025.
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For the nine months ended September 30, 2026, FFO totaled $44.3 million, or $1.74 per diluted share, compared to $50.2 million, or $1.96 per diluted share, for the nine months ended September 30, 2025.
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For the nine months ended September 30, 2026, Core FFO totaled $47.6 million, or $1.87 per diluted share, compared to $54.8 million, or $2.14 per diluted share, for the nine months ended September 30, 2025.
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For the nine months ended September 30, 2026, AFFO totaled $55.4 million, or $2.18 per diluted share, compared to $62.1 million, or $2.43 per diluted share, for the nine months ended September 30, 2025.
Subsequent Events
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On October 1, 2026, the Company drew $33.0 million under the Company's revolving credit facility (the "Credit Facility"). As of October 1, 2026, the Company had $112.1 million in aggregate principal outstanding and a $2.0 million letter of credit outstanding under the Credit Facility.
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On October 2, 2026, the Company, through the OP, acquired the following property (dollars in thousands):
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Property Name |
Location |
Date of Acquisition |
Purchase Price |
Units |
Effective Ownership |
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Midtown Crossing |
Raleigh, NC |
October 2, 2026 |
$ |
32,000 |
228 |
100% |
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On October 26, 2026, the Company's board of directors (the "Board") authorized the Company to repurchase an indeterminate number of shares of our common stock at an aggregate market value of up to $150.0 million during a two-year period that will expire on October 26, 2028.
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On October 26, 2026, the Board approved a quarterly dividend of $0.53 per share, payable on December 31, 2026 to stockholders of record on December 15, 2026.
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NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]
Third Quarter Earnings Conference Call
NXRT will host a call on Tuesday, November 3, 2026, at 11:00 a.m. ET (10:00 a.m. CT), to discuss its third quarter 2026 financial results. The conference call can be accessed live over the phone by dialing 833-461-5787 or, for international callers, +1 365-657-4084 and using passcode Conference ID: 814362322. A live audio webcast of the call will be available online at the Company's website, nxrt.nexpoint.com (under "Resources"). An online replay will be available shortly after the call on the Company's website and continue to be available for 60 days.
About NXRT
NexPoint Residential Trust, Inc. is a publicly traded real estate investment trust ("REIT"), with its common stock listed on the New York Stock Exchange and NYSE Texas, Inc. under the symbol "NXRT," 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. NXRT is externally advised by NexPoint Real Estate Advisors, L.P., an affiliate of NexPoint Advisors, L.P., an SEC-registered investment advisor, which has extensive real estate experience. Our filings with the Securities and Exchange Commission (the "SEC") are available on our website, nxrt.nexpoint.com, under the "Financials" tab.
NexPoint Residential Trust Inc. published this content on November 03, 2026, and is solely responsible for the information contained herein. Distributed via EDGAR on November 03, 2026 at 13:34 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]