NexPoint Residential Trust
Renovates Class B Sun Belt apartments to lift rents under external NexPoint management.
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Profile
Owns and renovates Class B apartment communities across Sun Belt metros, lifting rents through interior upgrades while an external adviser tied to the NexPoint platform runs acquisitions and asset management.
Owns and renovates Class B 'workforce' apartment communities in fast-growing Sun Belt metros — Phoenix, Atlanta, Dallas-Fort Worth, South Florida among them — targeting renters priced out of new luxury supply. Interior upgrades to kitchens, appliances, and technology lift rents after each unit turns, pursuing development-like returns without development risk.
An external adviser tied to the broader NexPoint investment platform handles acquisitions and asset management, while a third-party operator runs property management. The adviser also sponsors sibling public REITs pursuing diversified and commercial-mortgage strategies, sharing personnel and fees across the group.
REIT tax election requires distributing most taxable income to shareholders, and multifamily financing runs largely through Fannie Mae and Freddie Mac programs. Sun Belt concentration ties results to regional supply, employment, and weather. The portfolio traces to a 2015 spin-off from a Highland Capital-sponsored closed-end fund.
Company facts
Categories
Key statistics
Year to date −20.3% · Average volume (30d) 281.4K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Jul 20, 2026 | Deutsche Bank | Target | $38 | $18 | ||
| Jun 30, 2026 | Truist Financial | Target | $27 | $26 | ||
| Mar 11, 2026 | Truist Financial | Target | $30 | $27 | ||
| Feb 27, 2026 | Raymond James | Downgrade | Market Perform | Underperform | ||
| Jan 20, 2026 | Truist Financial | Target | $46 | $30 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 4, 2026Q2 FY26 | −$0.37 | −$0.34 | +8.1% | $63.8M | $64.6M | +1.3% | −5.71% |
| Apr 28, 2026Q1 FY26 | −$0.36 | $0.68 | +288.9% | $63.2M | $63.5M | +0.5% | −2.04% |
| Feb 24, 2026Q4 FY25 | −$0.34 | $0.75 | +322.4% | $63.0M | $62.1M | −1.4% | +0.52% |
| Oct 28, 2025Q3 FY25 | $0.79 | $0.80 | +1.3% | $62.8M | $62.8M | 0.0% | −3.24% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $63.2M | $61.2M | $62.8M | $64.0M | $63.5M | $64.6M | |
| Gross profit | $36.2M | $34.5M | $53.7M | $87.2M | $37.3M | $53.4M | |
| Operating income | $7.4M | $7.9M | $7.4M | $5.2M | $8.5M | $7.1M | |
| Net income | −$6.9M | −$7.0M | −$7.8M | −$10.3M | −$6.8M | −$8.6M | |
| Diluted EPS | −$0.27 | −$0.28 | −$0.31 | −$0.40 | −$0.27 | −$0.33 | |
| Gross margin | 57.3% | 56.4% | 85.5% | 136.3% | 58.7% | 82.6% | |
| Operating margin | 11.7% | 12.9% | 11.8% | 8.1% | 13.4% | 10.9% |
Fiscal years (4-quarter sums)FY21 $219.2M · FY22 $264.0M · FY23 $277.6M · FY24 $257.8M · FY25 $251.3M
Balance sheet, Jun 30, 2026Cash & short-term investments $14.6M · Total debt $1.59B · Total assets $1.88B · Shareholders' equity $247.9M
Dividends
Raised for 9 straight years — most recently to $0.53 from $0.51 in Dec 2025. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jun 15, 2026 | Jun 15 | Jun 30 | $0.53 | |
| Mar 13, 2026 | Mar 13 | Mar 31 | $0.53 | |
| Dec 15, 2025 | Dec 15 | Dec 31 | $0.53 | raised from $0.51 |
| Sep 15, 2025 | Sep 15 | Sep 30 | $0.51 | |
| Jun 16, 2025 | Jun 16 | Jun 30 | $0.51 | |
| Mar 14, 2025 | Mar 14 | Mar 31 | $0.51 | |
| Dec 13, 2024 | Dec 13 | Dec 31 | $0.51 | raised from $0.4624 |
| Sep 13, 2024 | Sep 13 | Sep 30 | $0.4624 |
Ownership
Shares outstanding 25.41M · Float 21.79M · 85.7% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 4.25M | 16.74% | 13F | Aug 7, 2026 |
| Vanguard Portfolio Management LLC | 1.36M | 5.37% | 13F | Aug 13, 2026 |
| Goldman Sachs Group Inc | 1.27M | 5.01% | 13F | Aug 14, 2026 |
| State Street Corp | 1.10M | 4.31% | 13F | Aug 7, 2026 |
| Starwood Capital Group Management, L.L.C. | 989.4K | 3.89% | 13F | Aug 14, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Mar 19, 2026 | Paul Richards | officer: See Remarks | +1,500 | $24.81 |
| Mar 20, 2026 | Paul Richards | officer: See Remarks | +200 | $24.11 |
| Mar 20, 2026 | Matt McGraner | officer: See Remarks | +2,000 | $24.37 |
| Mar 11, 2026 | Matt McGraner | officer: See Remarks | +1,000 | $26.14 |
| Mar 9, 2026 | Matt McGraner | officer: See Remarks | +1,000 | $26.39 |
Peers
- Independence Realty Trust
Runs a parallel Sun Belt/Midwest Class B value-add renovation program
- Mid-America Apartment Communities
S&P 500-scale Sun Belt REIT spanning Class A and Class B tiers
- Camden Property Trust
Larger Sun Belt multifamily REIT mixing Class A/B with active development
- UDR
Larger, coastal-tilted diversified REIT with a Sun Belt slice
- American Homes 4 Rent
Contests the same Sun Belt renter budgets via large-scale SFR homes
- Invitation Homes
Contests renter budgets as the largest single-family rental REIT
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| NexPoint Residential Trust | $23.55 | −0.04% | $598.5M | — | — | 2.3 | +2.3% |
| Independence Realty Trust | $16.31 | +0.03% | $3.84B | 88.9 | 91.7 | 5.8 | +3.0% |
| Mid-America Apartment Communities | $128.57 | −0.84% | $15.08B | 37.9 | 41.5 | 6.8 | +1.0% |
| Camden Property Trust | $106.35 | +0.03% | $10.69B | 35.3 | 101.8 | 6.8 | −0.9% |
| UDR | $37.12 | −0.01% | $11.93B | 23.6 | 64.3 | 6.9 | −0.6% |
| American Homes 4 Rent | $33.54 | 0.00% | $12.05B | 26.6 | 44.0 | 6.4 | +2.8% |
| Invitation Homes | $28.97 | −0.93% | $17.37B | 26.8 | 38.4 | 6.1 | +9.7% |
| Median | 31.1 | 54.1 | 6.6 | +1.9% |