NexPoint Residential Trust Inc (NYSE: NXRT) is a real estate investment trust that acquires, owns, and operates multifamily residential properties. Revenue comes primarily from rental income generated by apartment units, with a value-add strategy of renovating units to achieve higher rents. The portfolio is concentrated in the Southeastern and Southwestern United States. As of December 31, 2025, NXRT had completed full and partial renovations on 1,518 units at an average cost of $3,920 per renovated unit during FY2025, achieving average rent growth of 13.5%, or $158 average monthly rental increase per renovated and leased unit, with a stated return on investment of 20.8% on interior renovation capital. The company is externally managed by NexPoint Real Estate Advisors, L.P. and is structured as a REIT, distributing dividends to stockholders. For FY2025, NXRT declared total dividends of $53.8 million, or $2.06 per share, with a quarterly dividend of $0.53 per share in Q4 FY2025.

Revenue model

Rental income from multifamily apartment units, supplemented by value-add renovation programs that raise per-unit rents. The REIT structure requires distributing the majority of taxable income to stockholders as dividends. The company may allocate up to 30% of its portfolio to real estate-related debt and securities.

Products and services

Multifamily residential apartment units with value-add renovation programs. Interior unit renovations targeting rent increases. Potential investments in real estate-related debt instruments including first and second mortgages, subordinated loans, bridge loans, mezzanine loans, and construction loans.

Customers and end markets

Residential apartment renters in large cities and suburban submarkets, primarily in Southeastern and Southwestern United States markets.

Value-chain role

Property owner and operator. Acquires, renovates, and manages multifamily residential properties. Externally advised and managed through NexPoint Real Estate Advisors, L.P. and an affiliated property manager.

Geographic exposure

Concentrated in the Southeastern and Southwestern United States, in large cities and suburban submarkets of large cities (per FY2025 10-K filed 2026-02-26).

Source: SEC 10-K, filed 2026-02-26

Industry: Real Estate Investment Trusts Peers: Apartment Income REIT Corp. Apartment Investment and Management Co AvalonBay Communities Inc Centerspace Independence Realty Trust, Inc PREFERRED APARTMENT COMMUNITIES INC UMH Properties Inc Elme Communities