NXRT - NexPoint Residential Trust Inc. Announces Operating Update; Provides REITWeek Presentation Timing
PR Newswire
DALLAS , June 8, 2021 /PRNewswire/ -- NexPoint Residential Trust, Inc. ("NXRT" or the "Company") (NYSE: NXRT) posted a presentation to its website this morning in connection with Nareit's REITWeek Investor Conference. The presentation is available on NXRT's website at www.nxrt.nexpoint.com under "Resources."
Management will be participating in a round table discussion on Wednesday, June 9 , at 11:00 AM Eastern Time . The event will be webcast live in a listen-only mode and can be accessed by registering for the event on Nareit's website.
Additionally, Management provided the following operating updates as of May 31 , 2021. As of June 7, 2021 , NXRT's average monthly rent was $1,149 per unit and the portfolio was 95.6% occupied 1 .
| Collections Total Portfolio (13,976 units 2 ) |
| May 2021 |
| April 2021 |
| Q1 2021 |
| Cash collections as % of scheduled rent |
| 97.9% |
| 97.9% |
| 99.0% |
| % of units requesting assistance |
| 0.8% |
| 1.3% |
| 1.2% |
| Breakdown of units requesting assistance |
| |
| % of units paid full rent |
| 84.1% |
| 92.1% |
| 94.9% |
| % of units paid partial rent |
| 11.2% |
| 4.6% |
| 3.3% |
| % of units paid no rent |
| 4.6% |
| 3.3% |
| 1.8% |
| % of units delinquent and not requesting assistance 3 |
| 15.5% |
| 7.3% |
| 4.8% |
| Operating Statistics Same-Store Portfolio (13,564 units) |
| May 2021 |
| April 2021 |
| Q1 2021 |
| Cash collections as % of scheduled rent |
| 97.8% |
| 97.0% |
| 98.0% |
| New lease tradeouts |
| +13.7% |
| +10.6% |
| +3.8% |
| Renewal tradeouts |
| +5.8% |
| +5.2% |
| +2.3% |
| Financial occupancy |
| 94.6% |
| 94.4% |
| 94.1% |
| Physical occupancy 2,4 |
| 95.4% |
| 95.1% |
| 94.8% |
About NexPoint Residential Trust, Inc.
NexPoint Residential Trust, Inc. is a publicly traded REIT, with its shares listed on the New York Stock Exchange 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. More information about NXRT is available at nxrt.nexpoint.com.
Contact:
NexPoint Residential Trust, Inc.
Investor Relations
Jackie Graham
jgraham@nexpoint.com
Media Inquiries: MediaRelations@nexpoint.com
1 As of June 7, 2021 .
2 Total units owned Is 14,205. However, 249 units were down due to fires, a tornado, and Winter Storm Uri through May 2021 .
3 Represents units that had greater than $250 in delinquency balance. May 2021 had the lowest amount of payment plans since being offered.
4 Physical occupancy is the average daily occupancy for each period.
SOURCE NexPoint Hospitality Trust, Inc.
| Company Name: | NexPoint Residential Trust Inc. |
| Stock Symbol: | NXRT |
| Market: | NYSE |
| Website: | nexpointliving.com |
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