NexPoint Residential Trust Inc. reports 4Q results

Associated Press |

DALLAS (AP) _ NexPoint Residential Trust Inc. (NXRT) on Tuesday reported a key measure of profitability in its fourth quarter. The results beat Wall Street expectations.

The Dallas-based real estate investment trust said it had funds from operations of $8.5 million, or 40 cents per share, in the period.

The average estimate of three analysts surveyed by Zacks Investment Research was for funds from operations of 37 cents per share.

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 $4.3 million, or 20 cents per share.

The real estate investment trust posted revenue of $34.9 million in the period, falling short of Street forecasts. Three analysts surveyed by Zacks expected $36.4 million.

For the year, the company reported funds from operations of $25.1 million, or $1.17 per share. Revenue was reported as $144.2 million.

NexPoint Residential Trust Inc. expects full-year funds from operations in the range of $1.60 to $1.70 per share.

The company's shares have decreased 12 percent since the beginning of the year. The stock has risen 3.5 percent in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on NXRT at https://www.zacks.com/ap/NXRT

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