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NexPoint Residential Trust Inc.: 3Q Earnings Snapshot

Associated Press
Updated ·1-min read

DALLAS (AP) _ NexPoint Residential Trust Inc. (NXRT) on Tuesday reported a key measure of profitability in its third quarter.

The Dallas-based real estate investment trust said it had funds from operations of $15.1 million, or 60 cents per share, in the period.

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 net income of $29.6 million, or $1.19 per share.

The real estate investment trust posted revenue of $51 million in the period, which fell short of Street forecasts. Five analysts surveyed by Zacks expected $51.3 million.

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The company's shares have decreased almost 2% since the beginning of the year. The stock has dropped slightly more than 8% in the last 12 months.

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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