$NXRT
NexPoint Residential Trust, Inc.

2016 Q2 Form 10-Q Financial Statement

#000156459016024082 Filed on August 11, 2016

View on sec.gov

Income Statement

Concept 2016 Q2 2015 Q2
Revenue $33.66M $28.75M
YoY Change 17.08% 321.63%
Cost Of Revenue $2.640M $2.300M
YoY Change 14.78% 618.75%
Gross Profit $31.01M $26.45M
YoY Change 17.24% 306.92%
Gross Profit Margin 92.14% 92.01%
Selling, General & Admin $16.24M $14.19M
YoY Change 14.45% 360.71%
% of Gross Profit 52.37% 53.65%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $8.000M $10.05M
YoY Change -20.4% 181.51%
% of Gross Profit 25.8% 38.0%
Operating Expenses $24.32M $24.23M
YoY Change 0.37% 264.36%
Operating Profit $6.693M $1.973M
YoY Change 239.23% -1415.33%
Interest Expense $5.633M $4.239M
YoY Change 32.89% -418.72%
% of Operating Profit 84.16% 214.85%
Other Income/Expense, Net
YoY Change
Pretax Income $16.60M -$2.260M
YoY Change -834.51% -3.42%
Income Tax
% Of Pretax Income
Net Earnings $14.59M -$2.253M
YoY Change -747.58% 13.73%
Net Earnings / Revenue 43.35% -7.84%
Basic Earnings Per Share $0.69 -$0.11
Diluted Earnings Per Share $0.69 -$0.11
COMMON SHARES
Basic Shares Outstanding 21.29M
Diluted Shares Outstanding 21.29M

Balance Sheet

Concept 2016 Q2 2015 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $28.60M $24.20M
YoY Change 18.18% 310.17%
Cash & Equivalents $28.55M $24.16M
Short-Term Investments
Other Short-Term Assets $3.100M $4.900M
YoY Change -36.73% 390.0%
Inventory
Prepaid Expenses
Receivables $1.800M $1.800M
Other Receivables $0.00 $0.00
Total Short-Term Assets $33.50M $30.90M
YoY Change 8.41% 323.29%
LONG-TERM ASSETS
Property, Plant & Equipment $849.8M $808.8M
YoY Change 5.07% 313.5%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $34.20M $63.20M
YoY Change -45.89% 393.75%
Total Long-Term Assets $883.9M $872.2M
YoY Change 1.34% 318.51%
TOTAL ASSETS
Total Short-Term Assets $33.50M $30.90M
Total Long-Term Assets $883.9M $872.2M
Total Assets $917.4M $903.1M
YoY Change 1.59% 318.67%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.800M $4.700M
YoY Change -19.15% 34.29%
Accrued Expenses $1.000M $1.300M
YoY Change -23.08%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $10.80M $15.60M
YoY Change -30.77% 345.71%
LONG-TERM LIABILITIES
Long-Term Debt $652.3M $623.5M
YoY Change 4.62% 296.88%
Other Long-Term Liabilities $2.600M $3.100M
YoY Change -16.13% 210.0%
Total Long-Term Liabilities $654.9M $626.6M
YoY Change 4.52% 296.33%
TOTAL LIABILITIES
Total Short-Term Liabilities $10.80M $15.60M
Total Long-Term Liabilities $654.9M $626.6M
Total Liabilities $690.2M $642.2M
YoY Change 7.48% 281.11%
SHAREHOLDERS EQUITY
Retained Earnings -$6.639M
YoY Change
Common Stock $241.0M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares $5.000K
Shareholders Equity $227.2M $233.6M
YoY Change
Total Liabilities & Shareholders Equity $917.4M $903.1M
YoY Change 1.59% 318.67%

Cashflow Statement

Concept 2016 Q2 2015 Q2
OPERATING ACTIVITIES
Net Income $14.59M -$2.253M
YoY Change -747.58% 13.73%
Depreciation, Depletion And Amortization $8.000M $10.05M
YoY Change -20.4% 181.51%
Cash From Operating Activities $12.41M $5.000M
YoY Change 148.2% 3471.43%
INVESTING ACTIVITIES
Capital Expenditures -$6.070M -$31.29M
YoY Change -80.6% -26.62%
Acquisitions
YoY Change
Other Investing Activities $63.22M $4.810M
YoY Change 1214.35% -448.55%
Cash From Investing Activities $57.16M -$26.48M
YoY Change -315.86% -39.85%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -61.79M 13.72M
YoY Change -550.36% -69.52%
NET CHANGE
Cash From Operating Activities 12.41M 5.000M
Cash From Investing Activities 57.16M -26.48M
Cash From Financing Activities -61.79M 13.72M
Net Change In Cash 7.780M -7.760M
YoY Change -200.26% -786.73%
FREE CASH FLOW
Cash From Operating Activities $12.41M $5.000M
Capital Expenditures -$6.070M -$31.29M
Free Cash Flow $18.48M $36.29M
YoY Change -49.08% -15.17%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2016Q2 us-gaap Construction In Progress Gross
ConstructionInProgressGross
2562000
CY2016Q2 nxrt Furniture Fixtures And Equipment Gross
FurnitureFixturesAndEquipmentGross
29867000
CY2016Q2 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
815504000
CY2016Q2 nxrt Real Estate Investment Property Accumulated Depreciation And Amortization
RealEstateInvestmentPropertyAccumulatedDepreciationAndAmortization
46788000
CY2015Q4 us-gaap Accounts Receivable Net
AccountsReceivableNet
2122000
CY2016Q2 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
768716000
CY2016Q2 us-gaap Real Estate Heldforsale
RealEstateHeldforsale
81090000
CY2015Q4 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
1961000
CY2015Q4 us-gaap Real Estate Investments
RealEstateInvestments
902882000
CY2015Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
16226000
CY2015Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
46869000
CY2016Q2 us-gaap Profit Loss
ProfitLoss
16596000
CY2015Q2 us-gaap Profit Loss
ProfitLoss
-2266000
us-gaap Profit Loss
ProfitLoss
16887000
CY2016Q2 us-gaap Net Income Loss
NetIncomeLoss
14590000
CY2015Q2 us-gaap Net Income Loss
NetIncomeLoss
-2254000
us-gaap Net Income Loss
NetIncomeLoss
14575000
CY2016Q2 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
16584000
CY2016Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
14579000
CY2015Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-2367000
CY2015Q2 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
-2392000
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
16843000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
14535000
CY2016Q2 us-gaap Real Estate Investments
RealEstateInvestments
849806000
CY2016Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
28550000
CY2016Q2 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
34200000
CY2016Q2 us-gaap Accounts Receivable Net
AccountsReceivableNet
1783000
CY2016Q2 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
3093000
CY2016Q2 nxrt Mortgage Payables Net Deferred Financing Costs Net
MortgagePayablesNetDeferredFinancingCostsNet
388337000
CY2015Q4 nxrt Mortgage Payables Net Deferred Financing Costs Net
MortgagePayablesNetDeferredFinancingCostsNet
676324000
CY2016Q2 nxrt Mortgages Payable Held For Sale Net Of Deferred Financing Cost
MortgagesPayableHeldForSaleNetOfDeferredFinancingCost
65726000
CY2016Q2 us-gaap Line Of Credit
LineOfCredit
196290000
CY2015Q4 us-gaap Bridge Loan
BridgeLoan
28805000
CY2016Q2 us-gaap Treasury Stock Common Value
TreasuryStockCommonValue
88000
CY2016Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2016Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
5000
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
2312000
us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
16370000
CY2016Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
2006000
CY2015Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-12000
CY2016Q2 us-gaap Revenues
Revenues
33657000
CY2016Q2 us-gaap Direct Costs Of Leased And Rented Property Or Equipment
DirectCostsOfLeasedAndRentedPropertyOrEquipment
9691000
CY2015Q2 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
238000
CY2015Q2 us-gaap Real Estate Taxes And Insurance
RealEstateTaxesAndInsurance
3577000
us-gaap Real Estate Taxes And Insurance
RealEstateTaxesAndInsurance
8353000
CY2016Q2 nxrt Related Party Transaction Owned Property Management Costs From Transactions With Related Party
RelatedPartyTransactionOwnedPropertyManagementCostsFromTransactionsWithRelatedParty
1013000
CY2015Q2 nxrt Related Party Transaction Owned Property Management Costs From Transactions With Related Party
RelatedPartyTransactionOwnedPropertyManagementCostsFromTransactionsWithRelatedParty
858000
nxrt Related Party Transaction Owned Property Management Costs From Transactions With Related Party
RelatedPartyTransactionOwnedPropertyManagementCostsFromTransactionsWithRelatedParty
2018000
CY2016Q2 nxrt Related Party Advisory And Administrative Fees
RelatedPartyAdvisoryAndAdministrativeFees
1630000
CY2015Q2 nxrt Related Party Advisory And Administrative Fees
RelatedPartyAdvisoryAndAdministrativeFees
1439000
nxrt Related Party Advisory And Administrative Fees
RelatedPartyAdvisoryAndAdministrativeFees
3246000
CY2016Q2 nxrt Corporate General And Administrative Expenses
CorporateGeneralAndAdministrativeExpenses
844000
CY2015Q2 nxrt Corporate General And Administrative Expenses
CorporateGeneralAndAdministrativeExpenses
831000
nxrt Corporate General And Administrative Expenses
CorporateGeneralAndAdministrativeExpenses
1626000
CY2016Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1612000
us-gaap Costs And Expenses
CostsAndExpenses
54958000
CY2015Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
1973000
us-gaap Operating Income Loss
OperatingIncomeLoss
12210000
CY2016Q2 us-gaap Interest Expense
InterestExpense
6467000
CY2015Q2 us-gaap Interest Expense
InterestExpense
4239000
us-gaap Interest Expense
InterestExpense
11693000
CY2016Q2 us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
16370000
CY2016Q2 nxrt Net Income Losses Related To Interest Rate Cap Valuations
NetIncomeLossesRelatedToInterestRateCapValuations
-12000
CY2015Q2 nxrt Net Income Losses Related To Interest Rate Cap Valuations
NetIncomeLossesRelatedToInterestRateCapValuations
-126000
nxrt Net Income Losses Related To Interest Rate Cap Valuations
NetIncomeLossesRelatedToInterestRateCapValuations
-44000
nxrt Net Income Losses Related To Interest Rate Cap Valuations
NetIncomeLossesRelatedToInterestRateCapValuations
-396000
CY2016Q2 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
2005000
CY2015Q2 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
-25000
us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
2308000
CY2016Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
21294000
CY2015Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
21294000
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
21294000
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
21294000
CY2016Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.206
CY2015Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.206
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.412
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.206
CY2016Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.69
CY2015Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.11
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.68
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.36
us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
13949000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-44000
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
983000
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
540000
nxrt Change In Fair Value On Derivative Instruments Included Interest Expense
ChangeInFairValueOnDerivativeInstrumentsIncludedInterestExpense
6000
nxrt Change In Fair Value On Derivative Instruments Included Interest Expense
ChangeInFairValueOnDerivativeInstrumentsIncludedInterestExpense
166000
nxrt Amortization Of Fair Market Value Adjustment Of Assumed Debt
AmortizationOfFairMarketValueAdjustmentOfAssumedDebt
-55000
nxrt Amortization Of Fair Market Value Adjustment Of Assumed Debt
AmortizationOfFairMarketValueAdjustmentOfAssumedDebt
-55000
nxrt Noncash Contribution Expenses
NoncashContributionExpenses
1277000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-339000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
668000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
1182000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
418000
us-gaap Increase Decrease In Restricted Cash For Operating Activities
IncreaseDecreaseInRestrictedCashForOperatingActivities
-3950000
us-gaap Increase Decrease In Restricted Cash For Operating Activities
IncreaseDecreaseInRestrictedCashForOperatingActivities
4253000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-1830000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-1478000
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
20424000
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
8614000
us-gaap Proceeds From Real Estate And Real Estate Joint Ventures
ProceedsFromRealEstateAndRealEstateJointVentures
63220000
us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
-8719000
us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
5558000
nxrt Prepaid Acquisition Deposits
PrepaidAcquisitionDeposits
2088000
us-gaap Payments To Develop Real Estate Assets
PaymentsToDevelopRealEstateAssets
12265000
us-gaap Payments To Develop Real Estate Assets
PaymentsToDevelopRealEstateAssets
17230000
us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
164578000
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
59674000
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-189454000
us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
124990000
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
224199000
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
6391000
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
200000000
us-gaap Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
27000000
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
2538000
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
1519000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
88000
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
5176000
us-gaap Payments For Derivative Instrument Financing Activities
PaymentsForDerivativeInstrumentFinancingActivities
253000
nxrt Proceeds From Payments For Affiliates
ProceedsFromPaymentsForAffiliates
454000
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
1136000
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
8773000
us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
7628000
us-gaap Proceeds From Contributed Capital
ProceedsFromContributedCapital
68561000
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-67774000
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
192334000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
12324000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
11494000
CY2014Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
12662000
CY2015Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
24156000
us-gaap Interest Paid
InterestPaid
11178000
us-gaap Interest Paid
InterestPaid
7309000
us-gaap Construction In Progress Expenditures Incurred But Not Yet Paid
ConstructionInProgressExpendituresIncurredButNotYetPaid
800000
us-gaap Construction In Progress Expenditures Incurred But Not Yet Paid
ConstructionInProgressExpendituresIncurredButNotYetPaid
1322000
us-gaap Change In Unrealized Gain Loss On Fair Value Hedging Instruments1
ChangeInUnrealizedGainLossOnFairValueHedgingInstruments1
44000
us-gaap Change In Unrealized Gain Loss On Fair Value Hedging Instruments1
ChangeInUnrealizedGainLossOnFairValueHedgingInstruments1
396000
nxrt Dividend Declared And Payable
DividendDeclaredAndPayable
4387000
us-gaap Noncash Or Part Noncash Acquisition Value Of Liabilities Assumed1
NoncashOrPartNoncashAcquisitionValueOfLiabilitiesAssumed1
1104000
us-gaap Noncash Or Part Noncash Acquisition Other Assets Acquired1
NoncashOrPartNoncashAcquisitionOtherAssetsAcquired1
298000
us-gaap Noncash Or Part Noncash Acquisition Debt Assumed1
NoncashOrPartNoncashAcquisitionDebtAssumed1
18000000
us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="text-align:justify;margin-top:18pt;margin-bottom:0pt;text-indent:0%;font-style:italic;font-family:Times New Roman;font-size:10pt;font-weight:normal;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:4.54%;">The preparation of the combined consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosures of contingent assets and liabilities at the date of the combined consolidated financial statements, and the reported amounts of revenues and expenses during the reporting periods. It is at least reasonably possible that these estimates could change in the near term.</p></div>
us-gaap Property Plant And Equipment Impairment
PropertyPlantAndEquipmentImpairment
<div> <p style="text-align:justify;margin-top:18pt;margin-bottom:0pt;text-indent:0%;font-style:italic;font-family:Times New Roman;font-size:10pt;font-weight:normal;text-transform:none;font-variant: normal;">Impairment</p> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:4.54%;">Real estate assets that are determined to be held and used will be reviewed periodically for impairment and whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. In such cases, the Company will evaluate the recoverability of such real estate assets based on estimated future cash flows and the estimated liquidation value of such real estate assets, and provide for impairment if such undiscounted cash flows are insufficient to recover the carrying amount of the real estate asset. If impaired, the real estate asset will be written down to its estimated fair value. For the three and six month periods ended June 30, 2016 and 2015, the Company did not record any impairment charges related to real estate assets.</p></div>
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div> <p style="text-align:justify;margin-top:18pt;margin-bottom:0pt;text-indent:0%;font-style:italic;font-family:Times New Roman;font-size:10pt;font-weight:normal;text-transform:none;font-variant: normal;">Concentration of Credit Risk</p> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:4.54%;">The Company maintains cash balances with high quality financial institutions, including NexBank, an affiliate of our Adviser, and periodically evaluates the creditworthiness of such institutions and believes that the Company is not exposed to significant credit risk. Cash balances may be in excess of the amounts insured by the Federal Deposit Insurance Corporation.</p></div>
CY2015Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
6000000
CY2016Q2 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
700000
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0
CY2016Q2 us-gaap Area Of Real Estate Property
AreaOfRealEstateProperty
10550004
dei Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
2014-09-19
nxrt Term Of Advisory Agreement
TermOfAdvisoryAgreement
P2Y
us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
0
CY2016Q2 us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
0
CY2015Q2 us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
0
us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
0
CY2016Q2 us-gaap Security Deposit
SecurityDeposit
963000
CY2015Q4 us-gaap Security Deposit
SecurityDeposit
1034000
CY2016Q2 us-gaap Escrow Deposit
EscrowDeposit
17433000
CY2015Q4 us-gaap Escrow Deposit
EscrowDeposit
21312000
CY2016Q2 nxrt Renovation Value Add Reserves
RenovationValueAddReserves
15804000
CY2015Q4 nxrt Renovation Value Add Reserves
RenovationValueAddReserves
24523000
CY2016Q2 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
4000000
CY2016Q2 nxrt Number Of Properties Sold
NumberOfPropertiesSold
3
nxrt Minimum Percentage Of Distributed Taxable Income To Qualify As Reit
MinimumPercentageOfDistributedTaxableIncomeToQualifyAsREIT
0.90
nxrt Percentage Of Non Deductible Excise Tax On Distribution
PercentageOfNonDeductibleExciseTaxOnDistribution
0.04
nxrt Percentage Of Ordinary Income Considered For Payment Of Distribution
PercentageOfOrdinaryIncomeConsideredForPaymentOfDistribution
0.85
nxrt Percentage Of Capital Gain Net Income Considered For Payment Of Distribution
PercentageOfCapitalGainNetIncomeConsideredForPaymentOfDistribution
0.95
nxrt Percentage Of Undistributed Income Of Prior Considered For Payment Of Distribution
PercentageOfUndistributedIncomeOfPriorConsideredForPaymentOfDistribution
1.00
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2016Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0
CY2015Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0
CY2016Q2 us-gaap Number Of Units In Real Estate Property
NumberOfUnitsInRealEstateProperty
12276
CY2015Q2 nxrt Sales Price Of Property Held For Sale
SalesPriceOfPropertyHeldForSale
0
CY2016Q2 nxrt Sales Price Of Property Held For Sale
SalesPriceOfPropertyHeldForSale
64250000
nxrt Number Of Properties Acquired
NumberOfPropertiesAcquired
10
nxrt Number Of Properties Sold
NumberOfPropertiesSold
3
us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
64788000
us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
59682000
us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
997000
us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
-24970000
nxrt Business Acquisition Pro Forma Earnings Per Share Basic And Diluted
BusinessAcquisitionProFormaEarningsPerShareBasicAndDiluted
0.05
nxrt Business Acquisition Pro Forma Earnings Per Share Basic And Diluted
BusinessAcquisitionProFormaEarningsPerShareBasicAndDiluted
-1.17
CY2016Q2 nxrt Business Acquisitions Pro Forma General And Administrative Expense
BusinessAcquisitionsProFormaGeneralAndAdministrativeExpense
800000
CY2016Q2 us-gaap Longterm Debt Weighted Average Interest Rate
LongtermDebtWeightedAverageInterestRate
0.0262
CY2015Q4 us-gaap Longterm Debt Weighted Average Interest Rate
LongtermDebtWeightedAverageInterestRate
0.0267
nxrt Number Of Properties Sold
NumberOfPropertiesSold
3
CY2016Q2 nxrt Number Of Cross Collateralized Properties
NumberOfCrossCollateralizedProperties
11
CY2016Q2 us-gaap Debt Instrument Maturity Date
DebtInstrumentMaturityDate
2016-08-04
CY2016Q2 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
3018000
CY2016Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
2896000
CY2016Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
18383000
CY2016Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
8107000
CY2016Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
67122000
CY2016Q2 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
560325000
CY2016Q2 nxrt Long Term Debt Principal Outstanding
LongTermDebtPrincipalOutstanding
659851000
CY2016Q2 us-gaap Derivative Average Cap Interest Rate
DerivativeAverageCapInterestRate
0.0609
CY2016Q2 us-gaap Derivative Fair Value Of Derivative Asset Amount Not Offset Against Collateral
DerivativeFairValueOfDerivativeAssetAmountNotOffsetAgainstCollateral
5000
CY2015Q4 us-gaap Derivative Fair Value Of Derivative Asset Amount Not Offset Against Collateral
DerivativeFairValueOfDerivativeAssetAmountNotOffsetAgainstCollateral
67000
CY2016Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
21288825
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
5000
CY2016Q2 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
30000000
CY2016Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
us-gaap Stock Repurchase Program Expiration Date
StockRepurchaseProgramExpirationDate
2018-06-15
us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
17.62
us-gaap Dividends Payable Date Declared Day Month And Year
DividendsPayableDateDeclaredDayMonthAndYear
2016-08-08
us-gaap Dividends Payable Date Of Record Day Month And Year
DividendsPayableDateOfRecordDayMonthAndYear
2016-09-15
us-gaap Dividend Payable Date To Be Paid Day Month And Year
DividendPayableDateToBePaidDayMonthAndYear
2016-09-30

Files In Submission

Name View Source Status
0001564590-16-024082-index-headers.html Edgar Link pending
0001564590-16-024082-index.html Edgar Link pending
0001564590-16-024082.txt Edgar Link pending
0001564590-16-024082-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
nxrt-10q_20160630.htm Edgar Link pending
nxrt-20160630.xml Edgar Link completed
nxrt-20160630.xsd Edgar Link pending
nxrt-20160630_cal.xml Edgar Link unprocessable
nxrt-20160630_def.xml Edgar Link unprocessable
nxrt-20160630_lab.xml Edgar Link unprocessable
nxrt-20160630_pre.xml Edgar Link unprocessable
nxrt-ex102_273.htm Edgar Link pending
nxrt-ex311_7.htm Edgar Link pending
nxrt-ex312_6.htm Edgar Link pending
nxrt-ex321_8.htm Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R45.htm Edgar Link pending
R46.htm Edgar Link pending
R47.htm Edgar Link pending
R48.htm Edgar Link pending
R49.htm Edgar Link pending
R5.htm Edgar Link pending
R50.htm Edgar Link pending
R51.htm Edgar Link pending
R52.htm Edgar Link pending
R53.htm Edgar Link pending
R54.htm Edgar Link pending
R55.htm Edgar Link pending
R56.htm Edgar Link pending
R57.htm Edgar Link pending
R58.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending