DALLAS, Aug. 17, 2020 /PRNewswire/ -- NexPoint Residential Trust, Inc. ("NXRT" or the "Company") (NYSE: NXRT) released an update today on its response to the novel coronavirus (COVID-19) crisis, as well as portfolio-wide collections updates.
Continuing a trend of several successful months of collections, Management is pleased to report August revenue collected through August 16, 2020 equates to 96.9% of August billed rents. This is compared to 97.3% of rent collected as of August 16, 2019. Revenues collected through June 16, 2020 and July 16, 2020, respectively, equated to 97.3% and 95.3% of rent billed. Phoenix, Nashville, and Houston have been the strongest markets for collections in the month of August as of August 16, 2020, with 99.2%, 99.1%, and 98.2% collected, respectively.
Where available, property management continues to educate residents regarding state and local housing assistance options and subsidies.
NXRT is closely monitoring the effects of COVID-19 in all markets, and complying with CDC guidelines and state and local ordinances remains a top priority operationally. As the impact of the virus remains fluid, the health and safety of residents and staff continues to be of utmost importance.
NexPoint Residential Trust is a publicly traded REIT, with its shares listed on the New York Stock Exchange under the symbol "NXRT," primarily focused on acquiring, owning and operating well-located middle-income multifamily properties with "value-add" potential in large cities and suburban submarkets of large cities, primarily in the Southeastern and Southwestern United States. NXRT is externally advised by NexPoint Real Estate Advisors, L.P., an affiliate of NexPoint Advisors, L.P., an SEC-registered investment advisor, which has extensive real estate experience.
SOURCE NexPoint Residential Trust, Inc.