NexPoint Residential Trust Inc.: 3Q Earnings Snapshot
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DALLAS (AP) _ NexPoint Residential Trust Inc. (NXRT) on Tuesday reported a key measure of profitability in its third quarter. The results missed Wall Street expectations.
The Dallas-based real estate investment trust said it had funds from operations of $10.3 million, or 48 cents per share, in the period.
The average estimate of four analysts surveyed by Zacks Investment Research was for funds from operations of 49 cents per share.
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Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had a loss of $5.3 million, or 25 cents per share.
The real estate investment trust posted revenue of $36.5 million in the period, which beat Street forecasts. Four analysts surveyed by Zacks expected $36 million.
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The company's shares have climbed 25 percent since the beginning of the year. The stock has risen 47 percent in the last 12 months.
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This story was generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on NXRT at https://www.zacks.com/ap/NXRT