DALLAS – DALLAS (AP) _ NexPoint Residential Trust Inc. (NXRT) on Tuesday reported a key measure of profitability in its third quarter. The results missed Wall Street expectations.
The Dallas-based real estate investment trust said it had funds from operations of $10.3 million, or 48 cents per share, in the period.
The average estimate of four analysts surveyed by Zacks Investment Research was for funds from operations of 49 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 $5.3 million, or 25 cents per share.
The real estate investment trust posted revenue of $36.5 million in the period, which beat Street forecasts. Four analysts surveyed by Zacks expected $36 million.
The company's shares have climbed 25 percent since the beginning of the year. The stock has risen 47 percent in the last 12 months.
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This story was generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on NXRT at https://www.zacks.com/ap/NXRT
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