Improved NOI and Dividend Growth
Net operating income (NOI) for Q3 2025 was $38.8 million, up from $38.1 million in Q3 2024. The company declared a quarterly dividend of $0.53 per share, a 3.9% increase from the previous dividend.
Operational Efficiency Gains
Same-store operating expenses decreased by 6.3% year-over-year. Payroll and R&M declined 7.5% and 6.1%, respectively. Insurance expenses were favorable by 19%, and real estate taxes decreased by 8.7%.
Positive Market Outlook
The company sees an optimistic outlook for multifamily demand, with markets like Atlanta and South Florida showing revenue growth of 2.8%. The rental market is expected to outperform the for-sale market.
Successful Capital Recycling Strategy
NXRT plans to acquire a 321-unit multifamily community in Northern Las Vegas, expected to generate a 7% same-store NOI CAGR over the next 5 years.
Favorable Leasing Trends
Renewal conversions for eligible tenants were 63.6% for the quarter. The portfolio is 93.6% occupied and 95.8% leased.