NexPoint Residential Trust (NXRT)
Market Price (9/8/2026): $23.785 | Market Cap: $606.9 MilSector: Real Estate | Industry: Multi-Family Residential REITs
NexPoint Residential Trust (NXRT)
Market Price (9/8/2026): $23.785Market Cap: $606.9 MilSector: Real EstateIndustry: Multi-Family Residential REITs
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 33%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 33% Attractive yieldDividend Yield is 9.0%, FCF Yield is 14% Low stock price volatilityVol 12M is 28% Megatrend and thematic driversMegatrends include Smart Buildings & Proptech, and Sustainable & Green Buildings. Themes include IoT for Buildings, Building Management Systems, Show more. | Weak multi-year price returns2Y Excs Rtn is -80%, 3Y Excs Rtn is -96% | Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 260% Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -3.2% Key risksNXRT key risks include [1] significant indebtedness with interest payments not well covered by earnings, Show more. |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 33%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 33% |
| Attractive yieldDividend Yield is 9.0%, FCF Yield is 14% |
| Low stock price volatilityVol 12M is 28% |
| Megatrend and thematic driversMegatrends include Smart Buildings & Proptech, and Sustainable & Green Buildings. Themes include IoT for Buildings, Building Management Systems, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -80%, 3Y Excs Rtn is -96% |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 260% |
| Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -3.2% |
| Key risksNXRT key risks include [1] significant indebtedness with interest payments not well covered by earnings, Show more. |
Qualitative Assessment
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NexPoint Residential Trust (NXRT) stock has lost about 15% since 5/31/2026 because of the following key factors:
1. Underperforming Fiscal Q2 2026 Financial Results: NexPoint Residential Trust (NXRT) reported a wider net loss of $8.6 million, or $0.34 per diluted share, for fiscal Q2 2026 (ended June 30, 2026), compared to a net loss of $7.0 million, or $0.28 per diluted share, in fiscal Q2 2025. The company also experienced year-over-year declines in key profitability metrics, with Funds From Operations (FFO) decreasing to $0.60 per diluted share from $0.67, Core FFO dropping to $0.66 per diluted share from $0.71, and Adjusted Funds From Operations (AFFO) falling to $0.77 per diluted share from $0.80. Furthermore, Same Store Net Operating Income (NOI) decreased by 2.9% in fiscal Q2 2026 compared to the prior year, and average effective rent on a same-store basis decreased by 0.9%.
2. Downward Revision of Full-Year 2026 Guidance: Following the fiscal Q2 2026 earnings report on August 4, 2026, NXRT lowered its full-year 2026 Core FFO guidance due to anticipated higher interest expenses and weaker-than-expected revenue in certain markets. Specifically, full-year guidance for same-store revenue was reduced by 90 basis points to a 0.2% growth midpoint, and same-store NOI guidance was revised to a range of negative 2.5% to 0.5%. This signals a more cautious outlook from management regarding future performance.
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NexPoint Residential Trust (NXRT) stock has lost about 15% since 5/31/2026 because of the following key factors:
1. Underperforming Fiscal Q2 2026 Financial Results: NexPoint Residential Trust (NXRT) reported a wider net loss of $8.6 million, or $0.34 per diluted share, for fiscal Q2 2026 (ended June 30, 2026), compared to a net loss of $7.0 million, or $0.28 per diluted share, in fiscal Q2 2025. The company also experienced year-over-year declines in key profitability metrics, with Funds From Operations (FFO) decreasing to $0.60 per diluted share from $0.67, Core FFO dropping to $0.66 per diluted share from $0.71, and Adjusted Funds From Operations (AFFO) falling to $0.77 per diluted share from $0.80. Furthermore, Same Store Net Operating Income (NOI) decreased by 2.9% in fiscal Q2 2026 compared to the prior year, and average effective rent on a same-store basis decreased by 0.9%.
2. Downward Revision of Full-Year 2026 Guidance: Following the fiscal Q2 2026 earnings report on August 4, 2026, NXRT lowered its full-year 2026 Core FFO guidance due to anticipated higher interest expenses and weaker-than-expected revenue in certain markets. Specifically, full-year guidance for same-store revenue was reduced by 90 basis points to a 0.2% growth midpoint, and same-store NOI guidance was revised to a range of negative 2.5% to 0.5%. This signals a more cautious outlook from management regarding future performance.
3. Elevated Interest Expenses and Macroeconomic Headwinds: An increase in interest expense contributed significantly to NXRT's wider net loss, rising by $0.7 million in fiscal Q2 2026 compared to the prior year. For the six months ended June 30, 2026, the increase in interest expense was $1.7 million. The company also anticipates $14.6 million in fewer projected swap inflows for the remainder of 2026, creating a $0.16 per share headwind. These factors reflect the broader macroeconomic environment of elevated financing costs and persistent inflationary pressures on operating expenses impacting the real estate sector.
4. Deteriorating Analyst Sentiment and Price Target Reductions: Analyst ratings and price targets for NXRT showed a negative trend during the period. Truist Financial lowered its price objective from $27.00 to $26.00 on June 30, 2026, while Deutsche Bank Aktiengesellschaft set an $18.00 price objective on July 20, 2026. Zacks Research downgraded the stock from a "strong-buy" to a "hold" on August 25, 2026. The company's average rating is "Reduce" with an average target price of $22.00, and the stock hit a new 52-week low of $23.20 by August 31, 2026.
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Stock Movement Drivers
Fundamental Drivers
The -16.6% change in NXRT stock from 5/31/2026 to 9/7/2026 was primarily driven by a -16.4% change in the company's P/S Multiple.| (LTM values as of) | 5312026 | 9072026 | Change |
|---|---|---|---|
| Stock Price ($) | 28.52 | 23.78 | -16.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 250 | 250 | 0.2% |
| P/S Multiple | 2.9 | 2.4 | -16.4% |
| Shares Outstanding (Mil) | 25 | 26 | -0.5% |
| Cumulative Contribution | -16.6% |
Market Drivers
5/31/2026 to 9/7/2026| Return | Correlation | |
|---|---|---|
| NXRT | -16.6% | |
| Market (SPY) | 1.8% | -19.8% |
| Sector (XLRE) | -0.1% | 53.4% |
Fundamental Drivers
The -12.3% change in NXRT stock from 2/28/2026 to 9/7/2026 was primarily driven by a -12.1% change in the company's P/S Multiple.| (LTM values as of) | 2282026 | 9072026 | Change |
|---|---|---|---|
| Stock Price ($) | 27.11 | 23.78 | -12.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 249 | 250 | 0.4% |
| P/S Multiple | 2.8 | 2.4 | -12.1% |
| Shares Outstanding (Mil) | 25 | 26 | -0.6% |
| Cumulative Contribution | -12.3% |
Market Drivers
2/28/2026 to 9/7/2026| Return | Correlation | |
|---|---|---|
| NXRT | -12.3% | |
| Market (SPY) | 12.6% | 5.2% |
| Sector (XLRE) | 0.9% | 52.8% |
Fundamental Drivers
The -25.9% change in NXRT stock from 8/31/2025 to 9/7/2026 was primarily driven by a -24.9% change in the company's P/S Multiple.| (LTM values as of) | 8312025 | 9072026 | Change |
|---|---|---|---|
| Stock Price ($) | 32.11 | 23.78 | -25.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 252 | 250 | -0.8% |
| P/S Multiple | 3.2 | 2.4 | -24.9% |
| Shares Outstanding (Mil) | 25 | 26 | -0.5% |
| Cumulative Contribution | -25.9% |
Market Drivers
8/31/2025 to 9/7/2026| Return | Correlation | |
|---|---|---|
| NXRT | -25.9% | |
| Market (SPY) | 20.4% | 12.0% |
| Sector (XLRE) | 6.5% | 52.0% |
Fundamental Drivers
The -24.6% change in NXRT stock from 8/31/2023 to 9/7/2026 was primarily driven by a -17.3% change in the company's P/S Multiple.| (LTM values as of) | 8312023 | 9072026 | Change |
|---|---|---|---|
| Stock Price ($) | 31.53 | 23.78 | -24.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 276 | 250 | -9.4% |
| P/S Multiple | 2.9 | 2.4 | -17.3% |
| Shares Outstanding (Mil) | 26 | 26 | 0.6% |
| Cumulative Contribution | -24.6% |
Market Drivers
8/31/2023 to 9/7/2026| Return | Correlation | |
|---|---|---|
| NXRT | -24.6% | |
| Market (SPY) | 77.1% | 40.1% |
| Sector (XLRE) | 30.3% | 68.2% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| NXRT Return | 103% | -47% | -17% | 27% | -23% | -18% | -28% |
| Peers Return | 76% | -34% | 0% | 22% | -7% | 0% | 33% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 13% | 106% |
Monthly Win Rates [3] | |||||||
| NXRT Win Rate | 83% | 33% | 33% | 58% | 25% | 33% | |
| Peers Win Rate | 85% | 32% | 50% | 53% | 40% | 36% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 56% | |
Max Drawdowns [4] | |||||||
| NXRT Max Drawdown | -9% | -58% | -47% | -18% | -30% | -23% | |
| Peers Max Drawdown | -7% | -39% | -29% | -11% | -23% | -13% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: MAA, CPT, IRT, UDR, ESS.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 9/4/2026 (YTD)
How Low Can It Go
| Event | NXRT | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -15.7% | -18.8% |
| % Gain to Breakeven | 18.7% | 23.1% |
| Time to Breakeven | 24 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -36.7% | -9.5% |
| % Gain to Breakeven | 58.0% | 10.5% |
| Time to Breakeven | 263 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -21.5% | -6.7% |
| % Gain to Breakeven | 27.3% | 7.1% |
| Time to Breakeven | 520 days | 31 days |
| 2020 COVID-19 Crash | ||
| % Loss | -56.7% | -33.7% |
| % Gain to Breakeven | 130.8% | 50.9% |
| Time to Breakeven | 377 days | 140 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -13.7% | -3.7% |
| % Gain to Breakeven | 15.8% | 3.9% |
| Time to Breakeven | 48 days | 6 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -16.5% | -12.2% |
| % Gain to Breakeven | 19.7% | 13.9% |
| Time to Breakeven | 34 days | 62 days |
In The Past
NexPoint Residential Trust's stock fell -15.7% during the 2025 US Tariff Shock. Such a loss loss requires a 18.7% gain to breakeven.
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| Event | NXRT | S&P 500 |
|---|---|---|
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -36.7% | -9.5% |
| % Gain to Breakeven | 58.0% | 10.5% |
| Time to Breakeven | 263 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -21.5% | -6.7% |
| % Gain to Breakeven | 27.3% | 7.1% |
| Time to Breakeven | 520 days | 31 days |
| 2020 COVID-19 Crash | ||
| % Loss | -56.7% | -33.7% |
| % Gain to Breakeven | 130.8% | 50.9% |
| Time to Breakeven | 377 days | 140 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -22.0% | -6.8% |
| % Gain to Breakeven | 28.1% | 7.3% |
| Time to Breakeven | 56 days | 15 days |
In The Past
NexPoint Residential Trust's stock fell -15.7% during the 2025 US Tariff Shock. Such a loss loss requires a 18.7% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About NexPoint Residential Trust (NXRT)
NexPoint Residential Trust (NXRT) is a publicly traded real estate investment trust (REIT) specializing in the acquisition, ownership, and operation of multifamily apartment properties. The company's core business involves purchasing well-located residential properties primarily catering to middle-income residents, with a strategic focus on those that present "value-add" opportunities. This means NXRT aims to increase the properties' value and generate returns through targeted improvements, renovations, or enhanced management practices, thereby offering upgraded rental housing to its tenants.
NXRT serves middle-income individuals and families seeking quality rental housing. Its investment strategy concentrates on properties situated in large cities and their suburban submarkets, predominantly within the high-growth regions of the Southeastern and Southwestern United States. This geographic focus allows NexPoint Residential Trust to tap into robust rental markets characterized by strong population trends and economic development, providing essential residential spaces in desirable locations.
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NexPoint Residential Trust is like:
The Simon Property Group for apartment complexes.
A McDonald's for apartment complexes.
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- Residential Property Leasing: Providing rental units within their owned and operated middle-income multifamily properties to tenants.
- Property Management Services: Managing the day-to-day operations, maintenance, and tenant relations for their portfolio of multifamily properties.
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NexPoint Residential Trust (NXRT) primarily serves individuals, specifically tenants who rent apartments in its multifamily properties. Based on the company's description, its major customer categories are:
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Middle-income individuals and families: These customers are the core demographic for NXRT's "middle-income multifamily properties," seeking well-located and reasonably priced rental housing options.
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Renters in Sun Belt growth markets: This category encompasses individuals and families residing in or relocating to the large cities and suburban submarkets primarily located in the Southeastern and Southwestern United States, which are NXRT's target geographical markets.
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Tenants valuing renovated or well-maintained properties: With NXRT's focus on properties with "value-add" potential, this customer segment is likely attracted to properties that have undergone or will undergo improvements, offering updated amenities and a quality living environment within a middle-income budget.
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James Dondero President and Chairman of the Board
James Dondero serves as President and Chairman of the Board of NexPoint Residential Trust (NXRT) and is also the President of NexPoint Real Estate Advisors, L.P., the external manager of NXRT. He is the founder and principal of NexPoint, an alternative investment platform, and has over 30 years of experience in credit and equity markets, real estate, and private equity. Mr. Dondero co-founded NXRT and its Adviser. He has built numerous businesses within the NexPoint network, including NexPoint Real Estate Finance and NexPoint Hospitality Trust, where he also holds leadership positions.
Paul Richards Chief Financial Officer, Executive VP-Finance, Treasurer and Assistant Secretary
Paul Richards was appointed Chief Financial Officer, Executive VP-Finance, Treasurer and Assistant Secretary of NexPoint Residential Trust effective January 2025. He joined NexPoint in 2017 and has served as a director for its Sponsor since 2019. Mr. Richards previously worked as a Product Strategy Associate at NexPoint Asset Management, L.P. from 2016 to 2017, where he was responsible for evaluating and optimizing registered product lineups. Before that, he was a tax consultant at Deloitte & Touche LLP. He also holds CFO roles for other NexPoint-affiliated entities, including NexPoint Diversified Real Estate Trust (NXDT) and NexPoint Real Estate Finance (NREF).
Matt McGraner Executive VP and Chief Investment Officer
Matt McGraner has served as Executive VP and Chief Investment Officer of NexPoint Residential Trust since March 2015. He has been a Managing Director at NexPoint or its affiliates since May 2013 and is a co-founder of NXRT and its Adviser. Mr. McGraner brings over 15 years of experience in real estate, private equity, and legal matters. His responsibilities include leading the operations of NexPoint’s real estate platform, sourcing and executing investments, managing risk, and developing business opportunities. Prior to joining NexPoint, he was an associate at Jones Day from 2011 to 2013, where his practice focused on private equity, real estate, and mergers and acquisitions. At Jones Day, he led over $200 million in real estate acquisitions and financing and advised on $16.3 billion in M&A and private equity transactions. Since joining NexPoint in 2013, he has led the acquisition and financing of over $20.1 billion of real estate investments across affiliates.
Dennis "D.C." Sauter, Jr. General Counsel and Secretary
Dennis “D.C.” Sauter, Jr. has served as the General Counsel of NexPoint Residential Trust since February 2020. Before joining NexPoint, Mr. Sauter was a partner in the real estate section of Wick Phillips Gould & Martin, LLP in Dallas, Texas, from January 2014, specializing in acquisitions, construction, financing, joint ventures, and complex leasing for REITs, private developers, and institutional investors. His primary responsibility is to manage all legal matters for NexPoint Residential Trust, including corporate governance, real estate transactions, and capital markets transactions.
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The key risks to NexPoint Residential Trust (NXRT) include:
- Elevated Leverage and Interest Rate Risk: NexPoint Residential Trust faces significant risk due to its high leverage and sensitivity to interest rate fluctuations. A substantial portion of its debt bears variable interest rates, and upcoming swap expirations could lead to increased refinancing costs, negatively impacting Funds From Operations (FFO) if interest rate cuts are slower than anticipated.
- Deterioration in Operating Performance: The company is exposed to the risk of a challenging operating environment, as evidenced by recent declines in occupancy and flat rent growth. Weak U.S. employment trends could further pressure fundamentals, directly affecting the income generation from its multifamily properties, particularly in its concentrated markets in the Southeastern and Southwestern United States.
- Value-Add Investment Strategy Risks: NXRT's core strategy of acquiring and operating "value-add" multifamily properties carries inherent risks. This approach involves greater uncertainties compared to more conservative investment strategies, including potential delays in repositioning or improvement processes, higher than expected capital improvement costs, and the possibility that the anticipated higher rents and occupancy rates may not be achieved.
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NexPoint Residential Trust (NXRT) is expected to drive future revenue growth over the next two to three years through a combination of strategic initiatives focused on enhancing property value, capitalizing on favorable market dynamics, and optimizing operational performance.
The key drivers of future revenue growth for NXRT include:
- Continued Execution of Value-Add Renovation Programs: NXRT consistently invests in upgrading its middle-income multifamily properties, which has historically resulted in significant average monthly rent premiums and high returns on investment. The company completed 1,767 upgrades and installations in 2025, achieving an average rent premium of $60 and a 21.8% ROI, a strategy anticipated to continue contributing to revenue growth.
- Anticipated Market Rent Growth in Sun Belt Markets: Despite recent challenges, NXRT projects positive market rent growth across its Sun Belt markets, particularly with an expected acceleration into 2027. This outlook is supported by underlying market fundamentals such as housing shortages and delayed homebuying trends in these regions.
- Improved Occupancy Rates and Reduced Vacancy Costs: The company is actively focused on enhancing and stabilizing occupancy across its portfolio. Noteworthy occupancy improvements have been observed in markets like Phoenix, and management's 2026 guidance includes assumptions for improved economic occupancy and lower vacancy costs, which are crucial for maximizing rental income.
- Growth in Other Income and Operational Efficiencies: NXRT expects mid-single-digit growth in other income, partly driven by initiatives such as bulk Wi-Fi installations, which also offer a direct revenue offset. Furthermore, the strategic focus on advances in AI to streamline workflows and improve operational efficiencies is expected to indirectly support revenue growth by allowing for more competitive pricing and an enhanced resident experience.
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Share Repurchases
- In 2025, NexPoint Residential Trust repurchased and retired 223,109 shares at an average price of $34.29 per share.
- The company repurchased 438,678 shares at an average price of $33.19 per share in 2024.
- An additional $7.6 million was spent on share repurchases during April 2025.
Share Issuance
- A post-effective amendment to Form S-3 filed on February 26, 2026, registers up to $250,000,000 of securities, allowing for potential future offers of common stock, preferred stock, and warrants.
- The number of outstanding shares was approximately 25.36 million as of March 2026.
Outbound Investments
- In 2025, NexPoint Residential Trust acquired Sedona at Lone Mountain in Las Vegas, comprising 321 units, for $73.25 million.
- On October 1, 2024, the company completed the sale of Stone Creek at Old Farm for a sales price of $24.5 million.
Capital Expenditures
- NexPoint Residential Trust continued its value-add program in 2025, renovating 1,518 units at an average cost of $3,920 per unit, achieving a 20.8% return on interior renovation capital.
- During 2025, the company completed 1,767 full/partial upgrades and washer/dryer installations across its portfolio, resulting in an average monthly rent premium of $60 and a 21.8% ROI.
- Total capital expenditures for fiscal year 2024 were $29.731 million, a decrease from $56.007 million in fiscal year 2023. The primary focus of these expenditures is the value-add program, including interior and exterior renovations, and green initiatives.
Peer Outperformance in Multi-Family Residential REITs
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Health Care REITs | 14 | 19.5% | 60.3% | 61.2% | WELL 210% · DHC 124% · CTRE 124% |
| Retail REITs | 22 | 11.3% | 38.8% | 36.2% | IVT 1599% · SKT 171% · SPG 105% |
| Real Estate Development | 6 | -9.2% | 15.2% | 21.3% | JOE 55% · FOR 39% · AXR 39% |
| Other Specialized REITs | 11 | 5.3% | 22.4% | 17.1% | IRM 193% · OUT 70% · LAMR 69% |
| Hotel & Resort REITs | 16 | 28.6% | 26.1% | 3.9% | RHP 83% · HST 73% · DRH 57% |
| Industrial REITs | 11 | 15.0% | 18.8% | 3.7% | FR 28% · EGP 27% · PLD 15% |
| Diversified REITs | 12 | 9.7% | 29.3% | -6.5% | CTO 73% · WPC 20% · EPRT 13% |
| Multi-Family Residential REITs ← | 13 | -4.9% | 6.5% | -18.7% | AIV 16% · ESS 1% · VMRK -5% |
| Single-Family Residential REITs | 4 | -2.0% | 2.2% | -19.0% | AMH -11% · ELS -18% · INVH -20% |
| Real Estate Services | 27 | -16.9% | -7.8% | -25.7% | REAX 853% · MDRR 587% · CHCI 287% |
| Office REITs | 18 | -7.3% | 19.1% | -28.2% | PSTL 64% · CDP 52% · SLG 9% |
| Telecom Tower REITs | 3 | -7.9% | -7.1% | -44.1% | AMT -32% · SBAC -44% · CCI -51% |
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 71.03 |
| Mkt Cap | 11.3 |
| Rev LTM | 1,642 |
| Op Inc LTM | 303 |
| FCF LTM | 476 |
| FCF 3Y Avg | 477 |
| CFO LTM | 847 |
| CFO 3Y Avg | 830 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 1.2% |
| Rev Chg 3Y Avg | 1.4% |
| Rev Chg Q | 0.9% |
| QoQ Delta Rev Chg LTM | 0.2% |
| Op Inc Chg LTM | -3.4% |
| Op Inc Chg 3Y Avg | -3.2% |
| Op Mgn LTM | 18.4% |
| Op Mgn 3Y Avg | 19.1% |
| QoQ Delta Op Mgn LTM | -0.5% |
| CFO/Rev LTM | 48.5% |
| CFO/Rev 3Y Avg | 50.1% |
| FCF/Rev LTM | 31.1% |
| FCF/Rev 3Y Avg | 33.0% |
Price Behavior
| Market Price | $23.78 | |
| Market Cap ($ Bil) | 0.6 | |
| First Trading Date | 03/19/2015 | |
| Distance from 52W High | -26.3% | |
| 50 Days | 200 Days | |
| DMA Price | $25.78 | $27.25 |
| DMA Trend | down | down |
| Distance from DMA | -7.8% | -12.7% |
| 3M | 1YR | |
| Volatility | 30.2% | 28.0% |
| Downside Capture | 26.49 | 37.49 |
| Upside Capture | -58.53 | -5.96 |
| Correlation (SPY) | -19.4% | 11.4% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | -0.88 | -0.57 | -0.46 | 0.11 | 0.28 | 0.78 |
| Up Beta | -2.74 | -2.23 | -1.55 | -0.14 | 0.06 | 0.72 |
| Down Beta | 0.57 | -0.10 | 0.16 | 0.52 | 0.80 | 0.76 |
| Up Capture | -69% | -64% | -61% | -6% | -3% | 37% |
| Bmk +ve Days | 10 | 21 | 32 | 68 | 138 | 427 |
| Stock +ve Days | 11 | 21 | 33 | 66 | 122 | 374 |
| Down Capture | 133% | 87% | 16% | 30% | 47% | 100% |
| Bmk -ve Days | 11 | 21 | 32 | 59 | 113 | 324 |
| Stock -ve Days | 10 | 21 | 31 | 59 | 124 | 369 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with NXRT | |
|---|---|---|---|---|
| NXRT | -24.9% | 28.0% | -1.03 | - |
| Sector ETF (XLRE) | 7.9% | 14.0% | 0.31 | 52.0% |
| Equity (SPY) | 19.7% | 12.8% | 1.13 | 11.5% |
| Gold (GLD) | 24.6% | 29.2% | 0.75 | 1.6% |
| Commodities (DBC) | 43.8% | 20.3% | 1.67 | -18.3% |
| Real Estate (VNQ) | 9.1% | 13.6% | 0.39 | 54.7% |
| Bitcoin (BTCUSD) | -28.1% | 43.8% | -0.63 | 7.7% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with NXRT | |
|---|---|---|---|---|
| NXRT | -13.9% | 31.7% | -0.43 | - |
| Sector ETF (XLRE) | 1.9% | 19.2% | -0.00 | 69.5% |
| Equity (SPY) | 12.8% | 17.2% | 0.57 | 43.8% |
| Gold (GLD) | 19.1% | 18.8% | 0.82 | 8.6% |
| Commodities (DBC) | 10.7% | 19.5% | 0.43 | 5.5% |
| Real Estate (VNQ) | 1.7% | 18.9% | -0.01 | 71.9% |
| Bitcoin (BTCUSD) | 10.2% | 52.6% | 0.38 | 18.8% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with NXRT | |
|---|---|---|---|---|
| NXRT | 5.4% | 34.8% | 0.25 | - |
| Sector ETF (XLRE) | 6.2% | 20.4% | 0.26 | 68.5% |
| Equity (SPY) | 15.3% | 17.9% | 0.72 | 49.0% |
| Gold (GLD) | 12.4% | 16.3% | 0.62 | 6.4% |
| Commodities (DBC) | 7.9% | 18.1% | 0.35 | 13.8% |
| Real Estate (VNQ) | 4.8% | 20.7% | 0.19 | 70.6% |
| Bitcoin (BTCUSD) | 63.7% | 66.2% | 1.03 | 16.2% |
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Earnings Returns History
Updated 9/4/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/4/2026 | -5.7% | -3.2% | -9.7% |
| 4/28/2026 | 9.5% | 10.6% | 12.5% |
| 2/24/2026 | -2.6% | -4.9% | -13.8% |
| 10/28/2025 | 2.2% | -0.3% | 4.7% |
| 7/29/2025 | 1.3% | -7.5% | 0.3% |
| 4/29/2025 | 2.0% | 4.1% | -6.5% |
| 2/25/2025 | 3.7% | 8.2% | 0.2% |
| 10/29/2024 | 0.0% | -4.2% | 11.0% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 16 | 11 | 13 |
| # Negative | 8 | 13 | 11 |
| Median Positive | 2.5% | 6.2% | 6.6% |
| Median Negative | -3.2% | -3.3% | -7.4% |
| Max Positive | 12.2% | 11.6% | 16.3% |
| Max Negative | -10.2% | -12.7% | -24.4% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/4/2026 | -5.7% | -3.2% | -9.7% |
| 4/28/2026 | 9.5% | 10.6% | 12.5% |
| 2/24/2026 | -2.6% | -4.9% | -13.8% |
| 10/28/2025 | 2.2% | -0.3% | 4.7% |
| 7/29/2025 | 1.3% | -7.5% | 0.3% |
| 4/29/2025 | 2.0% | 4.1% | -6.5% |
| 2/25/2025 | 3.7% | 8.2% | 0.2% |
| 10/29/2024 | 0.0% | -4.2% | 11.0% |
| 7/30/2024 | 0.4% | -1.8% | 6.6% |
| 4/30/2024 | 2.8% | 6.2% | 6.6% |
| 2/20/2024 | -5.9% | -8.8% | -2.9% |
| 10/31/2023 | 0.6% | 11.4% | 13.5% |
| 7/25/2023 | -10.2% | -12.7% | -24.4% |
| 4/25/2023 | -3.8% | -3.3% | -4.6% |
| 2/21/2023 | 2.3% | 0.1% | -12.8% |
| 10/25/2022 | 12.2% | 11.6% | 16.3% |
| 7/26/2022 | -0.5% | 3.7% | -7.4% |
| 4/26/2022 | 4.2% | -8.3% | -19.4% |
| 2/15/2022 | 3.9% | 7.8% | 10.5% |
| 11/2/2021 | 0.8% | 5.8% | 4.0% |
| 7/27/2021 | -1.1% | -3.1% | -0.6% |
| 4/27/2021 | -0.9% | -1.3% | 1.4% |
| 2/16/2021 | 3.7% | -2.2% | 7.2% |
| 10/27/2020 | 3.8% | 1.7% | -1.0% |
| SUMMARY STATS | |||
| # Positive | 16 | 11 | 13 |
| # Negative | 8 | 13 | 11 |
| Median Positive | 2.5% | 6.2% | 6.6% |
| Median Negative | -3.2% | -3.3% | -7.4% |
| Max Positive | 12.2% | 11.6% | 16.3% |
| Max Negative | -10.2% | -12.7% | -24.4% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/05/2026 | 10-Q |
| 03/31/2026 | 04/29/2026 | 10-Q |
| 12/31/2025 | 02/26/2026 | 10-K |
| 09/30/2025 | 10/29/2025 | 10-Q |
| 06/30/2025 | 07/30/2025 | 10-Q |
| 03/31/2025 | 05/02/2025 | 10-Q |
| 12/31/2024 | 02/26/2025 | 10-K |
| 09/30/2024 | 10/30/2024 | 10-Q |
| 06/30/2024 | 08/01/2024 | 10-Q |
| 03/31/2024 | 05/03/2024 | 10-Q |
| 12/31/2023 | 02/27/2024 | 10-K |
| 09/30/2023 | 11/09/2023 | 10-Q |
| 06/30/2023 | 07/28/2023 | 10-Q |
| 03/31/2023 | 04/28/2023 | 10-Q |
| 12/31/2022 | 02/24/2023 | 10-K |
| 09/30/2022 | 10/26/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/05/2026 | 10-Q |
| 03/31/2026 | 04/29/2026 | 10-Q |
| 12/31/2025 | 02/26/2026 | 10-K |
| 09/30/2025 | 10/29/2025 | 10-Q |
| 06/30/2025 | 07/30/2025 | 10-Q |
| 03/31/2025 | 05/02/2025 | 10-Q |
| 12/31/2024 | 02/26/2025 | 10-K |
| 09/30/2024 | 10/30/2024 | 10-Q |
| 06/30/2024 | 08/01/2024 | 10-Q |
| 03/31/2024 | 05/03/2024 | 10-Q |
| 12/31/2023 | 02/27/2024 | 10-K |
| 09/30/2023 | 11/09/2023 | 10-Q |
| 06/30/2023 | 07/28/2023 | 10-Q |
| 03/31/2023 | 04/28/2023 | 10-Q |
| 12/31/2022 | 02/24/2023 | 10-K |
| 09/30/2022 | 10/26/2022 | 10-Q |
| 06/30/2022 | 08/02/2022 | 10-Q |
| 03/31/2022 | 04/28/2022 | 10-Q |
| 12/31/2021 | 02/18/2022 | 10-K |
| 09/30/2021 | 11/03/2021 | 10-Q |
| 06/30/2021 | 07/30/2021 | 10-Q |
| 03/31/2021 | 04/29/2021 | 10-Q |
| 12/31/2020 | 02/22/2021 | 10-K |
| 09/30/2020 | 10/28/2020 | 10-Q |
| 06/30/2020 | 08/05/2020 | 10-Q |
| 03/31/2020 | 05/08/2020 | 10-Q |
| 12/31/2019 | 02/21/2020 | 10-K |
| 09/30/2019 | 11/07/2019 | 10-Q |
Recent Forward Guidance
Updated 8/5/2026Latest: Q2 2026 Earnings Reported 8/4/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q3 2026 NOI | Reported | 37.90 Mil | 38.84 Mil | 39.78 Mil | 0.9% | Higher New | Guidance: 38.48 Mil for Q2 2026 | |
| Q3 2026 Net Loss | Reported | -12.00 Mil | -11.05 Mil | -10.10 Mil | 3.8% | Lower New | Guidance: -10.65 Mil for Q2 2026 | |
| 2026 Earnings (loss) per diluted share | Reported | -1.63 | -1.54 | -1.45 | 10.0% | Lowered | Guidance: -1.4 for 2026 | |
| 2026 Core FFO per diluted share | Reported | 2.35 | 2.45 | 2.54 | -4.7% | Lowered | Guidance: 2.57 for 2026 | |
| 2026 Same Store Rental Income Growth | Reported | -1.0% | -0.3% | 0.3% | -1.2% | Lowered | Guidance: 0.9% for 2026 | |
| 2026 Same Store Total Revenue Growth | Reported | -0.4% | 0.2% | 0.8% | -0.9% | Lowered | Guidance: 1.1% for 2026 | |
| 2026 Same Store Total Expenses Growth | Reported | 2.8% | 2.1% | 1.4% | -1.4% | Lowered | Guidance: 3.5% for 2026 | |
| 2026 Same Store NOI Growth | Reported | -2.5% | -1.0% | 0.5% | -0.5% | Lowered | Guidance: -0.5% for 2026 | |
| 2026 Acquisitions | Reported | 0 | 100.00 Mil | 200.00 Mil | 0 | Affirmed | Guidance: 100.00 Mil for 2026 | |
| 2026 Dispositions | Reported | 0 | 100.00 Mil | 200.00 Mil | 0 | Affirmed | Guidance: 100.00 Mil for 2026 | |
| 2026 NOI | Reported | 151.80 Mil | 154.12 Mil | 156.44 Mil | -0.6% | Lowered | Guidance: 155.04 Mil for 2026 | |
| 2026 Net Loss | Reported | -41.80 Mil | -39.50 Mil | -37.20 Mil | 9.4% | Lowered | Guidance: -36.10 Mil for 2026 | |
Prior: Q3 2025 Earnings Reported 10/28/2025
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q4 2025 NOI | Reported | 36.39 Mil | 37.45 Mil | 38.51 Mil | ||||
| 2025 Earnings (loss) per diluted share | Reported | -1.4 | -1.31 | -1.22 | Affirmed | Guidance: -1.31 for 2025 | ||
| 2025 Core FFO per diluted share | Reported | 2.66 | 2.75 | 2.84 | Affirmed | Guidance: 2.75 for 2025 | ||
| 2025 Same Store Rental Income Growth | Reported | -0.7% | -0.1% | 0.4% | 0.0% | Affirmed | Guidance: -0.1% for 2025 | |
| 2025 Same Store Total Revenue Growth | Reported | -0.4% | 0.1% | 0.6% | 0.0% | Affirmed | Guidance: 0.1% for 2025 | |
| 2025 Same Store Total Expenses Growth | Reported | 3.6% | 2.5% | 1.5% | 0.0% | Affirmed | Guidance: 2.5% for 2025 | |
| 2025 Same Store NOI Growth | Reported | -3.0% | -1.5% | 0.0% | 0.0% | Affirmed | Guidance: -1.5% for 2025 | |
| 2025 Acquisitions | Reported | 0 | 50.00 Mil | 100.00 Mil | -50.0% | Lowered | Guidance: 100.00 Mil for 2025 | |
| 2025 Dispositions | Reported | 0 | 50.00 Mil | 100.00 Mil | -50.0% | Lowered | Guidance: 100.00 Mil for 2025 | |
| 2025 NOI | Reported | 149.45 Mil | 151.77 Mil | 154.08 Mil | 0.0% | Affirmed | Guidance: 151.77 Mil for 2025 | |
Insider Activity
Updated 5/27/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | McGraner, Matt | See Remarks | Direct | Buy | 3242026 | 24.37 | 2,000 | 48,740 | 8,074,610 | Form |
| 2 | Richards, Paul | See Remarks | Direct | Buy | 3242026 | 24.11 | 200 | 4,822 | 736,777 | Form |
| 3 | Richards, Paul | See Remarks | Direct | Buy | 3242026 | 24.81 | 1,500 | 37,215 | 753,207 | Form |
| 4 | McGraner, Matt | See Remarks | Direct | Buy | 3132026 | 26.14 | 1,000 | 26,140 | 8,281,701 | Form |
| 5 | Richards, Paul | See Remarks | Direct | Buy | 3112026 | 26.34 | 2,000 | 52,680 | 742,419 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | McGraner, Matt | See Remarks | Direct | Buy | 3242026 | 24.37 | 2,000 | 48,740 | 8,074,610 | Form |
| 2 | Richards, Paul | See Remarks | Direct | Buy | 3242026 | 24.11 | 200 | 4,822 | 736,777 | Form |
| 3 | Richards, Paul | See Remarks | Direct | Buy | 3242026 | 24.81 | 1,500 | 37,215 | 753,207 | Form |
| 4 | McGraner, Matt | See Remarks | Direct | Buy | 3132026 | 26.14 | 1,000 | 26,140 | 8,281,701 | Form |
| 5 | Richards, Paul | See Remarks | Direct | Buy | 3112026 | 26.34 | 2,000 | 52,680 | 742,419 | Form |
| 6 | McGraner, Matt | See Remarks | Direct | Buy | 3112026 | 26.39 | 1,000 | 26,390 | 8,334,516 | Form |
| 7 | Richards, Paul | See Remarks | Direct | Buy | 3092026 | 27.33 | 1,000 | 27,330 | 715,663 | Form |
| 8 | McGraner, Matt | See Remarks | Direct | Buy | 3092026 | 27.36 | 1,000 | 27,360 | 8,613,503 | Form |
| 9 | McGraner, Matt | See Remarks | Direct | Buy | 3092026 | 27.79 | 1,000 | 27,790 | 8,721,086 | Form |
| 10 | Mitts, Brian | Direct | Sell | 12222025 | 28.05 | 8,452 | 237,079 | 1,471,166 | Form | |
| 11 | Mitts, Brian | 401(k) plan | Sell | 12222025 | 28.85 | 24,296 | Form | |||
| 12 | Mitts, Brian | Direct | Sell | 11042025 | 30.52 | 5,000 | 152,600 | 1,858,668 | Form | |
| 13 | Mitts, Brian | Direct | Sell | 9042025 | 30.92 | 5,000 | 154,600 | 2,037,628 | Form | |
| 14 | Mitts, Brian | Direct | Sell | 9042025 | 37.55 | 2,500 | 93,875 | 2,662,295 | Form | |
| 15 | Richards, Paul | See Remarks | Direct | Buy | 6272025 | 32.92 | 5,000 | 164,600 | 812,762 | Form |
| 16 | Richards, Paul | See Remarks | Direct | Buy | 5272025 | 33.18 | 1,000 | 33,180 | 659,253 | Form |
Investor Activity (13F)
Updated Sep 8, 2026Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
| Active Manager |
|---|
Industry Resources
| Real Estate Resources |
| The Real Deal |
| Commercial Observer |
| Inman |
| Multi-Family Residential REITs Resources |
| Multi-Housing News |
| Multifamily Executive |
| National Apartment Association |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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