NXRT - Rent Hikes for This Real Estate Stock Aren't Just an Inflation Issue
Owning residential rental properties has been a pretty good business of late, with real estate investment trusts (REITs) able to push through huge rent increases. A revival in demand following a weak spell during the 2020 pandemic is a big part of the story, but for some names there's more you need to understand. NexPoint Residential (NYSE: NXRT) is a perfect case in point. Here are the big trends that you need to know if you are going to dig into this apartment REIT.
In the first quarter of 2022, apartment REIT NexPoint Residential was able to increase rents by 15.4%. Although occupancy was down around 90 basis points year over year, it was still robust at 94.2% and roughly flat with the year-end 2021 figure. The business is on solid ground.
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Rent Hikes for This Real Estate Stock Aren't Just an Inflation Issue