DALLAS (AP) — DALLAS (AP) — NexPoint Residential Trust Inc. (NXRT) on Tuesday reported a key measure of profitability in its first quarter.
The Dallas-based real estate investment trust said it had funds from operations of $21.6 million, or 84 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 a loss of $6.9 million, or 27 cents per share.
The real estate investment trust, based in Dallas, posted revenue of $63.2 million in the period, missing Street forecasts. Five analysts surveyed by Zacks expected $63.8 million.
NexPoint Residential Trust Inc. expects full-year funds from operations in the range of $2.61 to $2.89 per share.
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