Dividend Growth
NXRT paid a second quarter dividend of $0.51 per share and has increased its dividend by 147.6% since inception.
Successful Unit Upgrades
Completed 555 full and partial upgrades, achieving an average monthly rent premium of $73 with a 26% return on investment.
Improved Credit Facilities
Entered into a $200 million corporate revolving credit facility with improvements, including a spread that improved by 15 basis points.
Positive Market Segment Performance
Atlanta and South Florida markets led revenue growth at 3.6% and 2.3%, respectively.
Expense Management
Second quarter same-store operating expenses were up just 1.5% year-over-year, with significant declines in marketing and payroll costs.
Insurance Cost Reduction
Insurance costs down 20% year-over-year, driven by a favorable market environment.