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NexPoint Diversified Real Estate Trust (NXDT+0.37%) has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing includes financial statements for the quarter, showing total revenues of $22.2 million, an increase from $12.4 million in the same quarter the previous year. This increase is attributed to the consolidation of NexPoint Hospitality Trust (NHT) and higher dividend income.
Property operating expenses increased to $6.3 million from $1.5 million, primarily due to the consolidation of NHT.
The company reported a net loss of $15.4 million for the quarter, compared to a net loss of $68.0 million in the previous year, with the improvement largely due to reduced unrealized losses on investments.
Interest expense for the quarter was $8.3 million, up from $4.2 million, reflecting higher debt levels following the NHT consolidation.
Depreciation and amortization expenses were $4.5 million, compared to $3.8 million in the previous year, due to the consolidation of NHT.
The filing indicates that NexPoint continues to focus on its diversified real estate investment strategy, with a primary objective of providing both current income and capital appreciation.
NexPoint reported total assets of $1.24 billion as of September 30, 2024, compared to $1.10 billion at the end of 2023, reflecting the acquisition and consolidation of additional real estate properties.
The company acknowledges the impact of macroeconomic factors such as inflation and interest rates on its operations and financing costs.
The filing also details various financial agreements, including the extension of the maturity date for the Cityplace debt and the borrowing of $10 million by Freedom LHV from The Ohio State Life Insurance Company.
NexPoint does not anticipate cash dividend payments to common stockholders in the near future, opting instead for a combination of cash and stock dividends.
The company continues to manage its portfolio through its external adviser, NexPoint Real Estate Advisors X, L.P., and highlights its focus on maintaining REIT status for tax purposes.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the NexPoint Diversified Real Estate Trust quarterly 10-Q report dated November 8, 2024. To report an error, please email earnings@qz.com.