NXRT - NexPoint Residential stock gains after 2022 core FFO guidance gets boosted
NexPoint Residential (NYSE:NXRT) shares are rising nearly 3% in Monday midafternoon trading as the retail REIT lifted full-year core FFO guidance following upbeat Q1 results. Sees 2022 core FFO of $3.01 compared with $2.97 in the previous forecast. Meanwhile, Q1 FFO of $0.74 per share topped the consensus of $0.71 and jumped from $0.55 in the year-ago period. Revenue of $60.8M also beat the average analyst estimate of $60.13M and $51.8M in Q1 a year ago. Q1 net loss of $4.67M compared with a loss of $6.90M in Q1 2021, driven by increases in rental income, partially offset by increases in depreciation and property operating expenses. Q1 same store net operating income was $33.16M vs. $28.5M in Q1 of last year. Earlier, NexPoint Residential declared a quarterly dividend of $0.38 per share.
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NexPoint Residential stock gains after 2022 core FFO guidance gets boosted