$NXRT
NexPoint Residential Trust, Inc.

2020 Q1 Form 10-Q Financial Statement

#000156459020023576 Filed on May 08, 2020

View on sec.gov

Income Statement

Concept 2020 Q1 2019 Q4 2019 Q1
Revenue $52.58M $49.68M $41.49M
YoY Change 26.73% 26.11% 18.35%
Cost Of Revenue $3.420M $3.340M $3.090M
YoY Change 10.68% 8.79% 6.92%
Gross Profit $49.17M $46.34M $38.40M
YoY Change 28.05% 27.55% 19.37%
Gross Profit Margin 93.51% 93.28% 92.55%
Selling, General & Admin $24.28M $22.59M $19.29M
YoY Change 25.87% 16.2% 12.87%
% of Gross Profit 49.38% 48.75% 50.23%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $18.50M $23.40M $13.20M
YoY Change 40.15% 69.2% 23.36%
% of Gross Profit 37.62% 50.5% 34.38%
Operating Expenses $47.61M $45.98M $34.69M
YoY Change 37.24% 38.2% 21.85%
Operating Profit $40.52M $360.0K $3.715M
YoY Change 990.82% -88.24% -78.7%
Interest Expense $11.66M -$10.75M $8.088M
YoY Change 44.19% 37.29% 18.99%
% of Operating Profit 28.78% -2986.11% 217.71%
Other Income/Expense, Net $590.0K
YoY Change
Pretax Income $28.04M -$13.31M -$4.370M
YoY Change -741.65% 178.45% -143.31%
Income Tax
% Of Pretax Income
Net Earnings $27.96M -$13.27M -$4.360M
YoY Change -741.17% 178.29% -143.32%
Net Earnings / Revenue 53.16% -26.71% -10.51%
Basic Earnings Per Share $1.10 -$0.53 -$0.19
Diluted Earnings Per Share $1.08 -$0.53 -$0.19
COMMON SHARES
Basic Shares Outstanding 25.39M 25.03M 23.55M
Diluted Shares Outstanding 25.85M 24.04M

Balance Sheet

Concept 2020 Q1 2019 Q4 2019 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $69.50M $25.70M $20.50M
YoY Change 239.02% 29.15% 47.48%
Cash & Equivalents $69.54M $25.67M $38.28M
Short-Term Investments
Other Short-Term Assets $3.700M $2.300M $3.800M
YoY Change -2.63% -74.73% 15.15%
Inventory
Prepaid Expenses
Receivables $3.100M $6.300M $3.400M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $76.30M $34.30M $27.70M
YoY Change 175.45% 6.19% 39.2%
LONG-TERM ASSETS
Property, Plant & Equipment $1.727B $1.782B $1.212B
YoY Change 42.51% 63.84% 25.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $36.00M $45.50M $17.70M
YoY Change 103.39% 95.28% -3.28%
Total Long-Term Assets $1.763B $1.832B $1.242B
YoY Change 41.94% 62.25% 22.74%
TOTAL ASSETS
Total Short-Term Assets $76.30M $34.30M $27.70M
Total Long-Term Assets $1.763B $1.832B $1.242B
Total Assets $1.839B $1.866B $1.270B
YoY Change 44.85% 60.69% 23.06%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $13.10M $12.00M $5.800M
YoY Change 125.86% 106.9% 28.89%
Accrued Expenses $3.300M $3.700M $3.200M
YoY Change 3.13% 27.59% 45.45%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $23.50M $27.90M $14.50M
YoY Change 62.07% 30.99% 29.46%
LONG-TERM LIABILITIES
Long-Term Debt $1.369B $1.403B $968.3M
YoY Change 41.42% 67.42% 26.25%
Other Long-Term Liabilities $51.40M $5.500M $3.600M
YoY Change 1327.78% 61.76% 0.0%
Total Long-Term Liabilities $1.421B $1.409B $971.9M
YoY Change 46.19% 67.4% 26.12%
TOTAL LIABILITIES
Total Short-Term Liabilities $23.50M $27.90M $14.50M
Total Long-Term Liabilities $1.421B $1.409B $971.9M
Total Liabilities $1.444B $1.436B $989.2M
YoY Change 46.02% 66.52% 26.53%
SHAREHOLDERS EQUITY
Retained Earnings $84.35M $63.78M
YoY Change -1042.87%
Common Stock $379.2M $360.0M
YoY Change 25.99%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares $864.7K $0.00
Shareholders Equity $392.2M $426.2M $280.3M
YoY Change
Total Liabilities & Shareholders Equity $1.839B $1.866B $1.270B
YoY Change 44.85% 60.69% 23.06%

Cashflow Statement

Concept 2020 Q1 2019 Q4 2019 Q1
OPERATING ACTIVITIES
Net Income $27.96M -$13.27M -$4.360M
YoY Change -741.17% 178.29% -143.32%
Depreciation, Depletion And Amortization $18.50M $23.40M $13.20M
YoY Change 40.15% 69.2% 23.36%
Cash From Operating Activities $11.42M $12.43M $3.700M
YoY Change 208.59% 10.1% 18.17%
INVESTING ACTIVITIES
Capital Expenditures -$13.60M -$258.0M -$131.7M
YoY Change -89.68% 4758.57% 1828.7%
Acquisitions
YoY Change
Other Investing Activities $85.89M $1.880M $0.00
YoY Change -124.58% -100.0%
Cash From Investing Activities $72.29M -$256.1M -$131.7M
YoY Change -154.89% 1874.56% -679.59%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net -$62.28B $99.97B
YoY Change -162.3% 1976440.79%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -49.31M 253.4M 123.2M
YoY Change -140.04% -33007.79% -433.68%
NET CHANGE
Cash From Operating Activities 11.42M 12.43M 3.700M
Cash From Investing Activities 72.29M -256.1M -131.7M
Cash From Financing Activities -49.31M 253.4M 123.2M
Net Change In Cash 34.40M 9.720M -4.846M
YoY Change -809.84% -496.73% -56.16%
FREE CASH FLOW
Cash From Operating Activities $11.42M $12.43M $3.700M
Capital Expenditures -$13.60M -$258.0M -$131.7M
Free Cash Flow $25.02M $270.4M $135.4M
YoY Change -81.53% 1529.04% 1259.6%

Facts In Submission

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2541000
CY2020Q1 nxrt Lessor Operating Leases Late Fees
LessorOperatingLeasesLateFees
484000
CY2019Q1 nxrt Lessor Operating Leases Late Fees
LessorOperatingLeasesLateFees
379000
CY2020Q1 nxrt Lessor Operating Leases Pet Fees
LessorOperatingLeasesPetFees
237000
CY2019Q1 nxrt Lessor Operating Leases Pet Fees
LessorOperatingLeasesPetFees
180000
CY2020Q1 nxrt Lessor Operating Leases Other Fees
LessorOperatingLeasesOtherFees
1882000
CY2019Q1 nxrt Lessor Operating Leases Other Fees
LessorOperatingLeasesOtherFees
1029000
CY2020Q1 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
51115000
CY2019Q1 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
40451000
CY2020Q1 us-gaap Accumulated Amortization Deferred Finance Costs
AccumulatedAmortizationDeferredFinanceCosts
2867000
CY2020Q1 us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
0
CY2020Q1 nxrt Number Of Properties Held For Sale
NumberOfPropertiesHeldForSale
0
CY2020Q1 nxrt Minimum Percentage Of Distributed Taxable Income To Qualify As Reit
MinimumPercentageOfDistributedTaxableIncomeToQualifyAsREIT
0.90
CY2020Q1 nxrt Percentage Of Non Deductible Excise Tax On Distribution
PercentageOfNonDeductibleExciseTaxOnDistribution
0.04
CY2020Q1 nxrt Percentage Of Ordinary Income Considered For Payment Of Distribution
PercentageOfOrdinaryIncomeConsideredForPaymentOfDistribution
0.85
CY2020Q1 nxrt Percentage Of Capital Gain Net Income Considered For Payment Of Distribution
PercentageOfCapitalGainNetIncomeConsideredForPaymentOfDistribution
0.95
CY2020Q1 nxrt Percentage Of Undistributed Income Of Prior Considered For Payment Of Distribution
PercentageOfUndistributedIncomeOfPriorConsideredForPaymentOfDistribution
1
CY2020Q1 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0
CY2020Q1 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="text-align:justify;margin-top:12pt;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;">Reclassifications</p> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Certain reclassifications have been made to conform the prior period consolidated financial statements and notes to the current period presentation. </p>
CY2020Q1 nxrt Number Of Residents Placed Under Payment Plans
NumberOfResidentsPlacedUnderPaymentPlans
15
CY2020Q1 nxrt Outstanding Rent Under Payment Plans
OutstandingRentUnderPaymentPlans
6000
CY2020Q1 nxrt Ownership Percentage Of Wholly Owned Subsidiary
OwnershipPercentageOfWhollyOwnedSubsidiary
1
CY2020Q1 nxrt Ownership Percentage Of Wholly Owned Subsidiary
OwnershipPercentageOfWhollyOwnedSubsidiary
1
CY2020Q1 us-gaap Area Of Real Estate Property
AreaOfRealEstateProperty
12786000
CY2020Q1 us-gaap Number Of Units In Real Estate Property
NumberOfUnitsInRealEstateProperty
14104
CY2020Q1 us-gaap Depreciation
Depreciation
18500000
CY2019Q1 us-gaap Depreciation
Depreciation
13200000
CY2020Q1 us-gaap Amortization Of Leased Asset
AmortizationOfLeasedAsset
4800000
CY2019Q1 us-gaap Amortization Of Leased Asset
AmortizationOfLeasedAsset
2200000
CY2020Q1 nxrt Number Of Properties Acquired
NumberOfPropertiesAcquired
0
CY2020Q1 us-gaap Long Term Debt
LongTermDebt
1376683000
CY2020Q1 us-gaap Derivative Average Cap Interest Rate
DerivativeAverageCapInterestRate
0.0574
CY2019Q1 nxrt Number Of Properties Acquired
NumberOfPropertiesAcquired
3
CY2019Q1 us-gaap Business Combination Consideration Transferred1
BusinessCombinationConsiderationTransferred1
132100000
CY2018Q4 us-gaap Earnest Money Deposits
EarnestMoneyDeposits
7700000
CY2019Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
3700000
CY2019Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-131700000
CY2020Q1 nxrt Number Of Properties Sold
NumberOfPropertiesSold
3
CY2019Q1 nxrt Number Of Properties Sold
NumberOfPropertiesSold
0
CY2020Q1 nxrt Sales Price Of Real Estate Property Sold During Period
SalesPriceOfRealEstatePropertySoldDuringPeriod
86500000
CY2020Q1 us-gaap Proceeds From Real Estate And Real Estate Joint Ventures
ProceedsFromRealEstateAndRealEstateJointVentures
85418000
CY2020Q1 us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
38972000
CY2019 us-gaap Loss From Catastrophes
LossFromCatastrophes
3500000
CY2019 us-gaap Gain On Business Interruption Insurance Recovery
GainOnBusinessInterruptionInsuranceRecovery
600000
CY2020Q1 nxrt Real Estate Investments Capitalized Costs
RealEstateInvestmentsCapitalizedCosts
300000
CY2020Q1 nxrt Number Of Properties Sold
NumberOfPropertiesSold
3
CY2019Q1 nxrt Number Of Properties Sold
NumberOfPropertiesSold
0
CY2020Q1 us-gaap Write Off Of Deferred Debt Issuance Cost
WriteOffOfDeferredDebtIssuanceCost
500000
CY2019Q1 us-gaap Write Off Of Deferred Debt Issuance Cost
WriteOffOfDeferredDebtIssuanceCost
0.0
CY2020Q1 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
559000
CY2020Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
225894000
CY2020Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
1492000
CY2020Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
21271000
CY2020Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
424663000
CY2020Q1 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
702804000
CY2019Q1 us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
0
CY2020Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
25717549
CY2020Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
24852868
CY2020Q1 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
41000
CY2019Q4 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
7298000
CY2020Q1 us-gaap Derivative Asset Fair Value Gross Liability
DerivativeAssetFairValueGrossLiability
47077000
CY2019Q4 us-gaap Derivative Asset Fair Value Gross Liability
DerivativeAssetFairValueGrossLiability
3824000
CY2020Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2016Q2 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
30000000.0
CY2016Q2 us-gaap Stock Repurchase Program Expiration Date
StockRepurchaseProgramExpirationDate
2018-06-15
CY2018Q2 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
40000000.0
CY2018Q2 us-gaap Stock Repurchase Program Period In Force1
StockRepurchaseProgramPeriodInForce1
P2Y
CY2018Q2 us-gaap Stock Repurchase Program Expiration Date
StockRepurchaseProgramExpirationDate
2020-06-15
CY2020Q1 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
100000000.0
CY2020Q1 us-gaap Stock Repurchase Program Expiration Date
StockRepurchaseProgramExpirationDate
2023-03-12
CY2020Q1 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
1090480
CY2020Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2020Q1 us-gaap Treasury Stock Shares Retired
TreasuryStockSharesRetired
225799
CY2020Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
864681
CY2019 us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
0
CY2019Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
28000000000
CY2019Q1 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
560000
CY2019Q1 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
50.00
CY2019Q1 us-gaap Sales Commissions And Fees
SalesCommissionsAndFees
420000000
CY2019Q1 us-gaap Deferred Offering Costs
DeferredOfferingCosts
406143000
CY2019Q1 nxrt Net Proceeds Form Sale Of Common Stock
NetProceedsFormSaleOfCommonStock
27173857000
CY2019Q1 nxrt Shares Issued Average Price Per Share
SharesIssuedAveragePricePerShare
48.52
CY2020Q1 us-gaap Profit Loss
ProfitLoss
28039000
CY2019Q1 us-gaap Profit Loss
ProfitLoss
-4373000
CY2020Q1 nxrt Net Income Loss Attributable To Redeemable Noncontrolling Interests
NetIncomeLossAttributableToRedeemableNoncontrollingInterests
84000
CY2019Q1 nxrt Net Income Loss Attributable To Redeemable Noncontrolling Interests
NetIncomeLossAttributableToRedeemableNoncontrollingInterests
-13000
CY2020Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
27955000
CY2019Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-4360000
CY2020Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
25388000
CY2019Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
23550000
CY2020Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
25388000
CY2019Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
23550000
CY2020Q1 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
463000
CY2019Q1 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
494000
CY2020Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
25851000
CY2019Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
24044000
CY2020Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.10
CY2019Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.19
CY2020Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.08
CY2019Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.19
CY2017Q2 nxrt Amount Used For Calculation Of Op Units Of Net Asset Value
AmountUsedForCalculationOfOPUnitsOfNetAssetValue
2000000.0
CY2017Q3 nxrt Common Units Transferred To Acquire Ownership Interest In Properties Of Noncontrolling Interest Holders Per Share
CommonUnitsTransferredToAcquireOwnershipInterestInPropertiesOfNoncontrollingInterestHoldersPerShare
27.31
CY2019Q4 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
RedeemableNoncontrollingInterestEquityCarryingAmount
3295000
CY2020Q1 us-gaap Temporary Equity Net Income
TemporaryEquityNetIncome
84000
CY2020Q1 nxrt Temporary Equity Other Comprehensive Loss Attributable To Redeemable Noncontrolling Interests In Operating Partnership
TemporaryEquityOtherComprehensiveLossAttributableToRedeemableNoncontrollingInterestsInOperatingPartnership
152000
CY2020Q1 nxrt Contributions From Redeemable Noncontrolling Interests On Operating Partnership
ContributionsFromRedeemableNoncontrollingInterestsOnOperatingPartnership
84000
CY2020Q1 nxrt Distributions To Redeemable Noncontrolling Interests On Operating Partnership
DistributionsToRedeemableNoncontrollingInterestsOnOperatingPartnership
159000
CY2020Q1 us-gaap Minority Interest Change In Redemption Value
MinorityInterestChangeInRedemptionValue
-820000
CY2020Q1 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
RedeemableNoncontrollingInterestEquityCarryingAmount
2332000

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