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DALLAS (AP) — DALLAS (AP) — NexPoint Residential Trust Inc. (NXRT) on Tuesday reported a key measure of profitability in its fourth quarter.
The real estate investment trust, based in Dallas, said it had funds from operations of $22 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 net income of $3.8 million, or 15 cents per share.
The real estate investment trust, based in Dallas, posted revenue of $69.3 million in the period, which topped Street forecasts. Three analysts surveyed by Zacks expected $68.8 million.
For the year, the company reported funds from operations of $91.4 million. Revenue was reported as $264 million.
NexPoint Residential Trust Inc. expects full-year funds from operations to be $3.58 per share.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a NXRT">Zacks stock report on NXRT at https://www.zacks.com/ap/NXRT