Form 8-K

8-K — NexPoint Residential Trust, Inc.

Accession: 0001193125-26-331611

Filed: 2026-08-04

Period: 2026-08-04

CIK: 0001620393

SIC: 6798 (REAL ESTATE INVESTMENT TRUSTS)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — nxrt-20260804.htm (Primary)

EX-99.1 (nxrt-ex99_1.htm)

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8-K

8-K (Primary)

Filename: nxrt-20260804.htm · Sequence: 1

8-K

false000162039300016203932026-08-042026-08-04

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of The

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 4, 2026

NEXPOINT RESIDENTIAL TRUST, INC.

(Exact name of registrant as specified in charter)

Maryland

001-36663

47-1881359

(State or other jurisdiction

of incorporation)

(Commission

File Number)

(I.R.S. Employer

Identification No.)

300 Crescent Court, Suite 700

Dallas, Texas 75201

(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code: (214) 276-6300

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading

Symbol(s)

Name of each exchange

on which registered

Common Stock, par value $0.01 per share

NXRT

New York Stock Exchange; NYSE Texas, Inc.

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02. Results of Operations and Financial Condition.

The following information is intended to be furnished under Item 2.02 of Form 8-K, “Results of Operations and Financial Condition.” This information shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, whether made before or after the date of this report, regardless of any general incorporation language in the filing. In a press release dated August 4, 2026, NexPoint Residential Trust, Inc. (the “Company”) announced financial results for the Company’s second quarter ended June 30, 2026. The full text of the press release is furnished herewith as Exhibit 99.1 to this report.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

Exhibit Number

Exhibit Description

99.1

Press Release dated August 4, 2026

104

Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

NEXPOINT RESIDENTIAL TRUST, INC.

By:

/s/ Paul Richards

Name: Paul Richards

Title: Chief Financial Officer, Executive

VP-Finance, Treasurer and Assistant Secretary

Date: August 4, 2026

EX-99.1

Filename: nxrt-ex99_1.htm · Sequence: 2

EX-99.1

Exhibit 99.1

4 August 2026 | NYSE: NXRT

EARNINGS SUPPLEMENT: SECOND QUARTER 2026

NEXPOINT RESIDENTIAL TRUST, INC.

300 CRESCENT COURT, SUITE 700

DALLAS, TX 75201

INVESTOR RELATIONS:

KRISTEN GRIFFITH

NXRT.NEXPOINT.COM

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

TABLE OF CONTENTS

Earnings Release

Cautionary Statement Regarding Forward-Looking Statements

Overview

Highlights of Recent Activity

Financial Summary

2026 Full Year Guidance Summary

Components of Net Asset Value

Consolidated Balance Sheets

Consolidated Statements of Operations

NOI and Same Store NOI

Q2 Same Store Results

Q2 Same Store Properties Operating Metrics

QoQ Same Store Properties Operating Metrics

YTD Same Store Results

FFO, Core FFO and AFFO

Historical Capital Expenditures

Value-Add Program Details

Outstanding Debt Details

Debt Maturity Schedule

Historical Acquisition Details

Historical Disposition Details

Definitions and Reconciliations of Non-GAAP Measures

the summit at sabal park: Tampa, FL

Leasing office upon acquisition

2026 upgraded leasing office

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

FOR IMMEDIATE RELEASE

Contact:

Investor Relations

Kristen Griffith

IR@nexpoint.com

(214) 276-6300

Media inquiries: Comms@nexpoint.com

NEXPOINT RESIDENTIAL TRUST, INC. REPORTS SECOND QUARTER 2026 RESULTS

NXRT Reports Continued Improvement in Monthly Lease Trade-Outs and Deploys Initial $22.1 Million Fixed-Rate Term Loan for DST Bridge-Lending Initiative

Dallas, TX, August 4, 2026 – NexPoint Residential Trust, Inc. (NYSE:NXRT) reported financial results for the second quarter ended June 30, 2026.

Highlights

•

NXRT1 reported net loss, FFO2, Core FFO2 and AFFO2 of $8.6M, $15.2M, $16.9M and $19.7M, respectively, attributable to common stockholders for the quarter ended June 30, 2026, compared to net loss, FFO, Core FFO, and AFFO of $7.0M, $16.9M, $18.0M and $20.3M, respectively, attributable to common stockholders for the quarter ended June 30, 2025.

•

NXRT reported net loss, FFO, Core FFO and AFFO of $15.4M, $32.6M, $34.2M and $39.3M, respectively, attributable to common stockholders for the six months ended June 30, 2026, compared to net loss, FFO, Core FFO, and AFFO of $13.9M, $34.3M, $37.0M and $41.8M, respectively, attributable to common stockholders for the six months ended June 30, 2025.

•

For the three months ended June 30, 2026, Q2 Same Store properties3, occupancy increased 30 bps, total revenue decreased 0.6%, and average effective rent and NOI2 decreased 0.9% and 2.9% over the prior year period.

•

For the six months ended June 30, 2026, YTD Same Store properties3, occupancy increased 30 bps, total revenue and NOI2 decreased 1.4% and 2.8%, respectively, and average effective rent decreased 0.9% over the prior year period.

•

NXRT paid a second quarter dividend of $0.53 per share of common stock on June 30, 2026.

•

The weighted average effective monthly rent per unit across all 36 properties held as of June 30, 2026 (the “Portfolio”), consisting of 13,3054 units, was $1,490, while physical occupancy was 93.5%.

•

On June 5, 2026, the Company deployed $22.1 million into a fixed-rate term loan (the "Waterford Loan"), bearing interest at 10.00% per annum, that financed the acquisition of a 240-unit stabilized multifamily property in the Greensboro–High Point, North Carolina market. The investment represents the Company's first deployment under its DST bridge-lending program and was funded through the Company's revolving credit facility, capturing a positive spread between the Waterford Loan's 10.00% fixed rate and the Company's cost of borrowings.

•

During the second quarter 2026, for the properties in the Portfolio, we completed 459 full and partial upgrades and leased 255 upgraded units, achieving an average monthly rent premium of $90.60 and a 23.0% ROI5.

•

Since inception, for the properties currently in the Portfolio, we have completed 10,474 full and partial upgrades, 5,130 kitchen and laundry appliances, and 11,199 technology packages, resulting in a $152, $51, and $43 average monthly rental increase per unit and a 20.7%, 63.4%, and 37.2% ROI, respectively.

In this release, “we,” “us,” “our,” the “Company,” and “NXRT” each refer to NexPoint Residential Trust, Inc., a Maryland corporation.

FFO, Core FFO, AFFO and NOI are non-GAAP measures. For a discussion of why we consider these non-GAAP measures useful and reconciliations of FFO, Core FFO, AFFO and NOI to net loss, see the “Definitions and Reconciliations of Non-GAAP Measures,” “FFO, Core FFO and AFFO” and “NOI and Same Store NOI” sections of this release.

We define “Same Store” properties as properties that were in our Portfolio for the entirety of the periods being compared. There are 35 properties encompassing 12,984 units of apartment space in our Same Store pool for the three months ended June 30, 2026 (our “Q2 Same Store” properties) and 35 properties encompassing 12,984 units of apartment space in our Same Store pool for the six months ended June 30, 2026 (our “YTD Same Store” properties).

Total units owned in our Portfolio is 13,305, however 1 unit is currently down.

We define Return on Investment (“ROI”) as the sum of the actual rent premium divided by the sum of the total cost.

NXRT.NEXPOINT.COM

Page 1

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

Second Quarter 2026 Financial Results

•

Total revenues were $64.6 million for the second quarter of 2026, compared to $63.1 million for the second quarter of 2025.

•

Net loss for the second quarter of 2026 totaled $8.6 million, or loss of $0.34 per diluted share, which included $23.9 million of depreciation and amortization expense. This compared to net loss of $7.0 million, or loss of $0.28 per diluted share, for the second quarter of 2025, which included $24.1 million of depreciation and amortization expense.

•

The change in our net loss of $8.6 million for the three months ended June 30, 2026 as compared to our net loss of 7.0 million for the three months ended June 30, 2025 primarily relates to an increase in property operating expenses and interest expense of $2.1 million and $0.7 million, respectively, offset by an increase in total revenues of $1.5 million.

•

For the second quarter of 2026, NOI was $37.9 million on 36 properties, compared to $38.0 million for the second quarter of 2025 on 35 properties.

•

For the second quarter of 2026, Q2 Same Store NOI decreased 2.9% to $36.9 million, compared to $38.0 million for the second quarter of 2025.

•

For the second quarter of 2026, FFO totaled $15.2 million, or $0.60 per diluted share, compared to $16.9 million, or $0.67 per diluted share, for the second quarter of 2025.

•

For the second quarter of 2026, Core FFO totaled $16.9 million, or $0.66 per diluted share, compared to $18.0 million, or $0.71 per diluted share, for the second quarter of 2025.

•

For the second quarter of 2026, AFFO totaled $19.7 million, or $0.77 per diluted share, compared to $20.3 million, or $0.80 per diluted share, for the second quarter of 2025.

2026 Year to Date Financial Results

•

Total revenues were $128.2 million for the six months ended June 30, 2026, compared to $126.4 million for the six months ended June 30, 2025.

•

Net loss for the six months ended June 30, 2026 totaled $15.4 million, or loss of $0.60 per diluted share, which included $48.2 million of depreciation and amortization expense. This compared to net loss of $13.9 million, or loss of $0.55 per diluted share, for the six months ended June 30, 2025, which included $48.4 million of depreciation and amortization expense.

•

The change in our net loss of $15.4 million for the six months ended June 30, 2026 as compared to our net loss of $13.9 million for the six months ended June 30, 2025 primarily relates to an increase in interest expense of $1.7 million.

•

For the six months ended June 30, 2026, NOI was $75.5 million on 36 properties, compared to $75.8 million for the six months ended June 30, 2025 on 35 properties.

•

For the six months ended June 30, 2026, Same Store NOI decreased 2.8% to $73.6 million, compared to $75.8 million for the six months ended June 30, 2025.

•

For the six months ended June 30, 2026, FFO totaled $32.6 million, or $1.28 per diluted share, compared to $34.3 million, or $1.34 per diluted share, for the six months ended June 30, 2025.

•

For the six months ended June 30, 2026, Core FFO totaled $34.2 million, or $1.34 per diluted share, compared to $37.0 million, or $1.45 per diluted share, for the six months ended June 30, 2025.

•

For the six months ended June 30, 2026, AFFO totaled $39.3 million, or $1.54 per diluted share, compared to $41.8 million, or $1.64 per diluted share, for the six months ended June 30, 2025.

Subsequent Events

•

On July 27, 2026, the Company’s Board approved a quarterly dividend of $0.53 per share, payable on September 30, 2026 to stockholders of record on September 15, 2026.

Second Quarter Earnings Conference Call

NXRT will host a call on Tuesday, August 4, 2026, at 11:00 a.m. ET (10:00 a.m. CT), to discuss its second quarter 2026 financial results. The conference call can be accessed live over the phone by dialing 833-461-5787 or, for international callers, +1 365-657-4084 and using passcode Conference ID: 814362322. A live audio webcast of the call will be available online at the Company's website, nxrt.nexpoint.com (under "Resources"). An online replay will be available shortly after the call on the Company's website and continue to be available for 60 days.

About NXRT

NexPoint Residential Trust, Inc. is a publicly traded real estate investment trust (“REIT”), with its common stock listed on the New York Stock Exchange and NYSE Texas, Inc. 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. Our filings

NXRT.NEXPOINT.COM

Page 2

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

with the Securities and Exchange Commission (the “SEC”) are available on our website, nxrt.nexpoint.com, under the “Financials” tab.

Cautionary Statement Regarding Forward-Looking Statements

This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are based on management’s current expectations, assumptions and beliefs. Forward-looking statements can often be identified by words such as “expect,” “anticipate,” “estimate,” “may,” “plan,” “believe” and similar expressions, and variations or negatives of these words. These forward-looking statements include, but are not limited to, statements regarding NXRT’s business and industry in general, forecasted submarket deliveries, 2026 full year guidance for earnings (loss) per diluted share and Core FFO per diluted share and the related components and assumptions, including acquisitions and dispositions, shares outstanding, and same store growth projections, NXRT’s net asset value and the related components and assumptions, including estimated value-add expenditures, debt payments, outstanding debt, and shares outstanding, net income and NOI guidance for the full year and third quarter of 2026 and the related assumptions, planned value-add programs, including projected average rehab costs, rent change and return on investment, and expected settlement of interest rate swaps and the effect on the debt maturity schedule and rehab budgets. They are not guarantees of future results and are subject to risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed in any forward-looking statement, including those described in greater detail in our filings with the SEC, particularly those described in our Annual Report on Form 10-K. Readers should not place undue reliance on any forward-looking statements and are encouraged to review the Company’s most recent Annual Report on Form 10-K and other filings with the SEC for a more complete discussion of the risks and other factors that could affect any forward-looking statements. The statements made herein speak only as of the date of this release and except as required by law, NXRT does not undertake any obligation to publicly update or revise any forward-looking statements.

NXRT.NEXPOINT.COM

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NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

NEXPOINT RESIDENTIAL TRUST, INC.: SECOND QUARTER 2026 OVERVIEW

Company Profile

(share counts in thousands)

Exchange/Ticker

NYSE; NYSE Texas: NXRT

Share Price (1)

$25.91

Insider Ownership (2)

17.25%

2026 Q3 Dividend Per Share

$0.53

Dividend Yield (1)

8.18%

Shares Outstanding - basic (3)

25,517

Shares Outstanding - diluted (3)

25,517

(1)

As of the close of market trading on August 3, 2026.

(2)

As of the close of market trading on June 30, 2026.

(3)

Weighted average for the three months ended June 30, 2026.

Portfolio Composition by Market

Market

% of Units

Phoenix

15.1

South Florida

14.7

Dallas/Fort Worth

14.6

Atlanta

12.7

Las Vegas

11.2

Nashville

10.1

Orlando

8.8

Raleigh

4.7

Tampa

4.3

Charlotte

3.8

Total

100.0

Revenue & Average Rent Per Unit

Stock Price Performance (Since Inception; 4/1/2015)

NXRT.NEXPOINT.COM

Page 4

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

Highlights of Second Quarter 2026 Activity

Operating Snapshot

Metric

2Q'26

1Q'26

QoQ

2Q'25

YoY

Same Store Ending Physical Occupancy:

93.6%

0.0%

93.3%

0.3%

Same Store Blended Lease Trade-out %:

-1.16%

-1.92%

0.76%

0.90%

-2.07%

Same Store Average Effective Monthly Rent per Unit:

$1,487

$1,482

0.3%

$1,500

-0.9%

Resident Turnover:

44.1%

44.4%

0.3%

46.5%

2.35%

Move-outs to Purchase a Home:

8.7%

7.9%

-0.8%

10.9%

2.2%

Move-outs to Rent a Home:

1.9%

0.0%

1.9%

0.0%

Bad Debt as % of Gross Potential Revenue:

0.65%

0.55%

-16.9%

0.5%

-40.2%

Monthly Leasing Cadence

Metric

Apr '26

May '26

Jun '26

Q2 '26

Jul'26

New Lease Trade-out %

-5.4%

-4.8%

-4.6%

-5.0%

-2.3%

Renewal Lease Trade-out %

1.6%

1.7%

2.5%

1.9%

2.2%

Blended Lease Trade-out %

-1.7%

-1.2%

-0.5%

-1.2%

0.3%

Ending Occupancy %

92.6%

93.5%

93.6%

93.2%

Ending Leased %

94.6%

95.3%

95.2%

94.9%

Resident Retention

54.8%

58.7%

52.6%

55.9%

53.9%

Market-Level Lease Trade-outs: Q2 2026

Market

New Leases

% Change

$ Change

Renewals

% Change

$ Change

Dallas/Fort Worth

229

-7.7%

-$89

198

2.1%

$26

Charlotte

-8.0%

-$119

0.6%

Nashville

171

-4.0%

-$48

174

1.8%

$22

Atlanta

182

-5.2%

-$68

258

1.1%

$16

Orlando

128

-8.2%

-$119

130

-0.2%

-$2

Tampa

-4.4%

-$57

0.6%

South Florida

182

-3.2%

-$72

281

1.2%

$25

Phoenix

170

-4.5%

-$64

258

1.0%

$13

Las Vegas

143

-2.4%

-$37

181

7.5%

$105

Raleigh

0.8%

2.7%

$39

TOTAL

1,360

-5.0%

-$70

1,684

1.9%

$28

Market-Level Lease Trade-outs: July 2026

Market

New Leases

% Change

$ Change

Renewals

% Change

$ Change

Dallas/Fort Worth

-1.3%

-$18

2.8%

$34

Charlotte

-1.2%

-$16

1.7%

$24

Nashville

-2.2%

-$30

1.0%

$13

Atlanta

-2.0%

-$26

0.4%

Orlando

-5.9%

-$89

1.3%

$21

Tampa

3.2%

$43

1.3%

$16

South Florida

-3.1%

-$70

0.9%

$20

Phoenix

-4.1%

-$68

1.7%

$26

Las Vegas

3.0%

$42

8.7%

$124

Raleigh

-2.9%

-$47

3.4%

$48

TOTAL

333

-2.3%

-$37

485

2.2%

$31

Leasing Data Indicators

Metric

Q2'25

Q3'25

Q4'25

Q1'26

Q2'26

Jul'26

Leads

31,888

29,317

26,565

31,882

24,703

5,473

Tours

4,757

5,027

3,597

4,270

3,817

826

Self-Guided Tours

902

950

706

798

999

302

NXRT.NEXPOINT.COM

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NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

FORECASTED SUBMARKET DELIVERIES (1)

Market

Submarket (RealPage)

Property

NXRT Unit Exposure

2026 Q2 Inventory

2025 Deliveries

2026 Deliveries

2027 Deliveries

2028 Deliveries

3-year Deliveries

3-year % Growth

ATL

Southeast Marietta

Rockledge

708

13,567

0.0%

ATL

Southeast Marietta

The Preserve at Terrell Mill

752

13,567

0.0%

ATL

Sandy Springs

The Adair

232

20,363

286

1,023

1,095

5.4%

CHA

Huntersville/Cornelius

The Verandas at Lake Norman

264

10,229

1,062

1,359

881

238

2,478

24.2%

CHA

Matthews/Southeast Charlotte

Creekside at Matthews

240

13,325

484

226

986

1,267

9.5%

DFW

East Fort Worth

The Venue at 8651

333

13,202

398

3.0%

DFW

Far North Dallas

Versailles

388

30,136

0.0%

DFW

Far North Dallas

Versailles II

242

30,136

0.0%

DFW

Hurst/Euless/Bedford

Arbors on Forest Ridge

210

33,963

526

326

1.0%

DFW

Hurst/Euless/Bedford

Summers Landing

196

33,963

526

326

1.0%

DFW

Oak Lawn/Park Cities

Atera

380

21,575

601

530

295

126

951

4.4%

DFW

Richardson

Cutters Point

196

20,540

223

483

733

168

1,384

6.7%

LSV

Northwest Las Vegas

Bella Solara

320

22,679

516

266

387

1.7%

LSV

Northwest Las Vegas

Bloom

528

22,679

516

266

387

1.7%

LSV

Southwest Las Vegas

Torreyana

316

22,838

1,157

1,316

1,148

236

2,700

11.8%

LSV

North Las Vegas

Sedona at Lone Mountain

321

12,672

492

770

281

1,051

8.3%

NASH

East Nashville

Residences at Glenview Reserve

360

15,561

852

368

141

509

3.3%

NASH

South Nashville

Arbors of Brentwood

346

18,215

264

133

193

1.1%

NASH

South Nashville

Brandywine

632

18,215

264

133

193

1.1%

ORL

East Orlando

The Cornerstone

430

22,926

337

297

507

199

1,003

4.4%

ORL

Northwest Orlando

Residences at West Place

342

17,698

465

328

1.9%

ORL

South Orange County

Sabal Palm at Lake Buena Vista

400

36,833

1,858

1,122

1,792

369

3,283

8.9%

PHX

Chandler

Fairways at San Marcos

352

27,337

815

687

328

537

1,552

5.7%

PHX

North Central Phoenix

Heritage

204

27,303

182

380

416

1.5%

PHX

North Central Phoenix

The Venue on Camelback

415

27,303

182

380

416

1.5%

PHX

Northeast Phoenix

Bella Vista

248

22,762

112

167

664

530

1,361

6.0%

PHX

South Tempe

Enclave

204

17,055

229

1.3%

PHX

Southwest Mesa

Madera Point

256

18,300

129

211

161

372

2.0%

PHX

West Phoenix

Estates on Maryland

330

15,625

0.4%

RDU

Far North Raleigh

Six Forks Station

323

13,707

625

688

1,389

10.1%

RDU

North Cary/Morrisville

High House at Cary

302

23,978

500

871

366

656

1,893

7.9%

SFL

Pembroke Pines/Miramar

Avant at Pembroke Pines

1,520

25,713

332

0.0%

SFL

West Palm Beach

Parc500

217

34,101

343

1,517

181

1,698

5.0%

SFL

West Palm Beach

Seasons 704

222

34,101

343

1,517

181

1,698

5.0%

TPA

Egypt Lake/Lowry Park

Courtney Cove

324

13,926

245

0.2%

TPA

Temple Terrace

The Summit at Sabal Park

252

16,617

202

264

390

654

3.9%

Totals/Averages

Total

13,305

602,746

12,046

11,828

11,235

3,939

27,002

4.5%

(1)

Source: 2026 Realpage, Inc.; Data as of July 2026.

NXRT.NEXPOINT.COM

Page 6

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

Financial Summary

Q2 2026

Q2 2025

YTD 2026

YTD 2025

(in thousands, except for per share and unit data)

Company Profile

Market Capitalization (as of the last day of the period)

713,000

845,000

Share Price (as of the last day of the period)

27.92

33.32

Weighted average common shares outstanding - basic

25,517

25,384

25,458

25,416

Weighted average common shares outstanding - diluted

25,517

25,384

25,458

25,416

Earnings Profile

Total revenues

64,609

63,149

128,153

126,365

Net loss attributable to common stockholders

(8,611

)

(7,033

)

(15,365

)

(13,930

)

NOI (1)

37,894

38,036

75,531

75,796

Same Store NOI (2)

36,930

38,036

73,633

75,773

Same Store NOI Growth (%) (2)

-2.9

-2.8

Earnings Metrics Per Common Share (diluted basis)

Earnings

(0.34

)

(0.28

)

(0.60

)

(0.55

)

FFO (1)

0.60

0.67

1.28

1.34

Core FFO (1)

0.66

0.71

1.34

1.45

AFFO (1)

0.77

0.80

1.54

1.64

Dividends declared per common share

0.53

0.51

1.06

1.02

Net Income (Loss) Coverage (3)

-0.64x

-0.55x

-0.57x

-0.54x

FFO Coverage (3)

1.12x

1.31x

1.21x

1.31x

Core FFO Coverage (3)

1.25x

1.39x

1.26x

1.42x

AFFO Coverage (3)

1.45x

1.57x

1.45x

1.61x

Portfolio

Total Properties

Total Units (4)

13,305

12,984

Occupancy

93.5

93.3

Average Effective Monthly Rent per Unit

1,490

1,500

Same Store Portfolio Metrics (2)

Total Same Store Properties

Total Same Store Units

12,984

12,946

12,984

12,946

Occupancy

93.6

93.3

93.6

93.3

Average Effective Monthly Rent per Unit

1,487

1,500

1,487

1,500

Value-Add Program

Completed Rehab Units

459

555

775

765

Cumulative Completed Rehab Units (5)

10,474

Average Increase to Effective Monthly Rent

per Unit (Post-Rehab)

152

ROI on Post-Rehab Units

20.7

Outstanding Debt Summary

Total Mortgage Debt

1,543,529

1,503,242

Total Debt Outstanding

1,622,674

1,503,242

Leverage Ratio (Total Debt to Market Capitalization plus Total Debt)

Leverage Ratio (Net Debt to Enterprise Value) (6)

(1)

For more information and reconciliations of NOI, FFO, Core FFO and AFFO, see the “FFO, Core FFO and AFFO,” “NOI and Same Store NOI” and “Definitions and Reconciliations of Non-GAAP Measures” sections of this release.

(2)

We define “Same Store” properties as properties that were in our Portfolio for the entirety of the periods being compared. For additional information regarding our Q2 and YTD Same Store properties, see the “Q2 Same Store Results” and “YTD Same Store Results” section of this release.

(3)

Indicates coverage ratio of net loss/FFO/Core FFO/AFFO per common share (diluted) over dividends declared per common share during the period. The Company uses actual diluted weighted average common shares outstanding when in a dilutive position for FFO, Core FFO and AFFO. For periods in which potential common shares are anti‑dilutive, diluted weighted‑average shares outstanding are equal to basic weighted‑average shares outstanding.

(4)

Total units owned is 13,305, however 1 unit is currently down.

(5)

Inclusive of all full and partial interior upgrades completed through June 30, 2026. Cumulative results exclude rehabs completed for properties sold through June 30, 2026.

(6)

For more information and a reconciliation of debt to net debt, see the “Definitions and Reconciliations of Non-GAAP Measures” section of this release.

NXRT.NEXPOINT.COM

Page 7

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

2026 Full Year Guidance Summary

NXRT is revising guidance ranges and mid-points for earnings (loss) per diluted share, Core FFO per diluted share, Same Store rental income, Same Store total revenue, Same Store total expenses, and Same Store NOI and reaffirming guidance mid-points for Acquisitions and Dispositions (dollars in millions, except per share amounts):

Guidance Range (1)

Low-End

Mid-Point

High-End

Prior Mid-Point

Earnings (loss) per diluted share (1)

(1.63

)

(1.54

)

(1.45

)

(1.40

)

Core FFO per diluted share (1) (2)

2.35

2.45

2.54

2.57

Same Store Growth: (3)

Rental Income

-1.0

-0.3

0.3

0.9

Total Revenue

-0.4

0.2

0.8

1.1

Total Expenses

2.8

2.1

1.4

3.5

Same Store NOI (2)

-2.5

-1.0

0.5

-0.5

Other Considerations: (4)

Acquisitions

—

100.0

200.0

Affirmed

Dispositions

—

100.0

200.0

Affirmed

(1)

Weighted average diluted share count estimate for full year 2026 is approximately 25.6 million.

(2)

Same Store NOI and Core FFO are non-GAAP measures. For reconciliations of Full Year 2026 Same Store NOI and Core FFO guidance to net income (loss) guidance, and a discussion of why we consider these non-GAAP measures useful, see the “Definitions and Reconciliations of Non-GAAP Measures” section of this release.

(3)

Year-over-year growth for the Full Year 2026 Same Store pool (35 properties).

(4)

We continue to evaluate our Portfolio for capital recycling opportunities. Transaction volumes presented are incorporated into the loss per share and Core FFO guidance above. Actual acquisitions and dispositions could vary significantly from our projections. We undertake no duty to update these assumptions, except as required by law.

Additional information on 2026 financial and earnings guidance is included in the following sections of this release.

NXRT.NEXPOINT.COM

Page 8

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

Components of Net Asset Value

(dollar and share amounts in thousands, except per share and per unit data)

REAL ESTATE VALUE BY MARKET

Property

NOI

Cap Rate Range (1)

Value Range (2)

Market

Contribution

Min

Max

Min

Max

Texas

Dallas/Fort Worth

10.3

5.25

5.75

271,994

306,997

North Carolina

Raleigh

4.4

5.25

5.75

116,192

131,145

Charlotte

3.9

5.25

5.75

103,498

116,818

Georgia

Atlanta

12.2

5.25

5.75

322,739

364,272

Tennessee

Nashville

8.6

5.25

5.75

225,964

255,043

Florida

Orlando

9.0

5.25

5.75

236,554

266,996

Tampa

3.5

5.25

5.75

91,252

102,996

South Florida

21.0

5.25

5.75

554,830

626,231

Nevada

Las Vegas

11.4

5.25

5.75

301,192

339,952

Arizona

Phoenix

15.8

5.25

5.75

415,813

469,324

Total / Ave

100.0

5.25

5.75

2,640,028

2,979,774

NOI ESTIMATE

Q1 2026 NOI Actual

37,636

Q2 2026 NOI Actual

37,894

Low

High

Estimated Q3 2026 NOI Guidance (3)

37,904

39,783

2026 NOI Guidance (3)

151,802

156,438

NAV SUMMARY

Component

Min

Max

Tangible Assets

Real Estate (2)

2,640,028

2,979,774

Cash

14,626

Restricted Cash - Renovation Reserves (4)

6,564

Renovation Expenditures (4)

(6,564

)

Cash Adjustments

Fair Market Value of Interest Rate Swaps

5,231

Other Assets

67,514

Value of Assets

2,727,399

3,067,145

Tangible Liabilities

Credit Facility (5)

79,145

Mortgage Debt

1,543,529

Total Outstanding Debt

1,622,674

Forward 12-month Principal Payments

Total Outstanding Debt (FY 2026 Est.)

1,622,674

Other Tangible Liabilities (at Book)

36,225

Value of Liabilities

1,658,899

Net Leverage (mid-point)

Net Asset Value

1,068,500

1,408,246

Shares outstanding - diluted (FY 2026 Est.)

26,530

Est. NAV / Share

40.28

53.08

NAV / Share (mid-point)

46.68

IMPLIED VALUATION METRICS

Min

Max

Implied Real Estate Value

2,640,028

2,979,774

No. of Units (June 30, 2026) (2)

13,305

Implied Value/Apartment Unit

198.4

224.0

Implied Value/Apartment Unit (mid-point)

211.2

(1)

Management estimates based on independent third-party review of our properties.

(2)

Estimated value ranges are presented for the existing portfolio (36 properties at June 30, 2026).

(3)

The Company anticipates net loss will be in the range between approximately $41.8 million and $37.2 million for the full year 2026 and between $12.0 million and $10.1 million for the third quarter of 2026. FY 2026 NOI Guidance considers a commensurate volume of capital recycling.

(4)

Includes approximately $6.6 million that is held for value-add upgrades; reduced by $6.6 million for estimated 2026 rehab expenditures.

(5)

Includes outstanding balance as of June 30, 2026.

NXRT.NEXPOINT.COM

Page 9

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

NEXPOINT RESIDENTIAL TRUST, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(in thousands, except share and per share amounts)

June 30, 2026

December 31, 2025

(Unaudited)

ASSETS

Operating Real Estate Investments

Land

371,656

Buildings and improvements

1,820,655

1,812,311

Intangible lease assets

—

1,052

Construction in progress

7,205

8,535

Furniture, fixtures, and equipment

236,354

224,661

Total Gross Operating Real Estate Investments

2,435,870

2,418,215

Accumulated depreciation and amortization

(651,454

)

(604,321

)

Total Net Operating Real Estate Investments

1,784,416

1,813,894

Cash and cash equivalents

14,626

13,704

Restricted cash

37,971

31,476

Accounts receivable, net (1)

9,353

9,059

Prepaid and other assets (2)

26,754

4,852

Fair market value of interest rate swaps

5,231

13,434

TOTAL ASSETS

1,878,351

1,886,419

LIABILITIES AND STOCKHOLDERS' EQUITY

Liabilities:

Mortgages payable, net

1,511,869

1,469,410

Credit facility, net

77,627

88,102

Accounts payable and other accrued liabilities

13,159

11,554

Accrued real estate taxes payable

12,688

5,251

Accrued interest payable

6,501

7,053

Security deposit liability

2,819

2,980

Prepaid rents

1,058

1,170

Fair market value of interest rate swaps

—

475

Total Liabilities

1,625,721

1,585,995

Redeemable noncontrolling interests in the OP

4,769

4,928

Stockholders' Equity:

Preferred stock, $0.01 par value: 100,000,000 shares authorized; 0 shares issued

—

Common stock, $0.01 par value: 500,000,000 shares authorized; 25,549,813 and 25,364,470 shares issued and outstanding, respectively

256

254

Additional paid-in capital

409,951

406,628

Accumulated earnings less dividends

(166,672

)

(123,409

)

Accumulated other comprehensive income

4,326

12,023

Total Stockholders' Equity

247,861

295,496

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY

1,878,351

1,886,419

(1)

Includes $0.2 million and $0.0 million from a related party as of June 30, 2026 and December 31, 2025, respectively.

(2)

Includes $22.1 million and $0.0 million note receivable from a related party as of June 30, 2026 and December 31, 2025, respectively.

NXRT.NEXPOINT.COM

Page 10

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

NEXPOINT RESIDENTIAL TRUST, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS

AND COMPREHENSIVE LOSS

(in thousands, except per share amounts)

(Unaudited)

For the Three Months Ended June 30,

For the Six Months Ended June 30,

2026

2025

2026

2025

Revenues

Rental income

61,802

61,230

122,858

122,670

Other income (1)

2,807

1,919

5,295

3,695

Total revenues

64,609

63,149

128,153

126,365

Expenses

Property operating expenses

14,603

12,529

26,946

24,997

Real estate taxes and insurance

8,203

8,485

16,282

17,487

Property management fees (2)

1,828

1,806

3,642

3,626

Advisory and administrative fees (3)

1,798

1,725

3,569

3,421

Corporate general and administrative expenses

4,711

4,499

9,184

8,956

Property general and administrative expenses

2,518

2,143

4,772

4,143

Depreciation and amortization

23,893

24,059

48,184

48,409

Total expenses

57,554

55,246

112,579

111,039

Operating income

7,055

7,903

15,574

15,326

Interest expense

(15,829

)

(15,162

)

(31,271

)

(29,543

)

Casualty loss

—

)

—

(168

)

Equity in earnings of affiliate

105

173

114

Miscellaneous income

144

286

Net loss

(8,645

)

(7,061

)

(15,426

)

(13,985

)

Net loss attributable to redeemable noncontrolling interests in the OP

(34

)

(28

)

(61

)

(55

)

Net loss attributable to common stockholders

(8,611

)

(7,033

)

(15,365

)

(13,930

)

Other comprehensive loss

Unrealized losses on interest rate derivatives

(3,991

)

(6,442

)

(7,728

)

(16,614

)

Total comprehensive loss

(12,636

)

(13,503

)

(23,154

)

(30,599

)

Comprehensive loss attributable to redeemable noncontrolling interests in the OP

(50

)

(53

)

(92

)

(120

)

Comprehensive loss attributable to common stockholders

(12,586

)

(13,450

)

(23,062

)

(30,479

)

Weighted average common shares outstanding - basic

25,517

25,384

25,458

25,416

Weighted average common shares outstanding - diluted

25,517

25,384

25,458

25,416

Loss per share - basic

(0.34

)

(0.28

)

(0.60

)

(0.55

)

Loss per share - diluted

(0.34

)

(0.28

)

(0.60

)

(0.55

)

(1)

Includes $0.2 million from a related party for the three and six months ended June 30, 2026, and $0.0 million for the three and six months ended June 30, 2025.

(2)

Fees incurred to an affiliate of a noncontrolling limited partner of NexPoint Residential Trust Operating Partnership, L.P. (the "OP").

(3)

Fees incurred to the Company's adviser.

NXRT.NEXPOINT.COM

Page 11

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

NOI and Same Store NOI

The following table, which has not been adjusted for the effects of noncontrolling interests, reconciles NOI and our Same Store NOI for the three and six months ended June 30, 2026 and 2025 to net loss, the most directly comparable GAAP financial measure (in thousands):

For the Three Months Ended June 30,

For the Six Months Ended June 30,

2026

2025

2026

2025

Net loss

(8,645

)

(7,061

)

(15,426

)

(13,985

)

Adjustments to reconcile net loss to NOI:

Advisory and administrative fees

1,798

1,725

3,569

3,421

Corporate general and administrative expenses

4,711

4,499

9,184

8,956

Corporate income

(765

)

(370

)

(1,355

)

(812

)

Casualty-related expenses/(recoveries)

(1)

(792

)

(1,662

)

(1,448

)

Casualty loss

—

168

Property general and administrative expenses

(2)

1,088

868

1,939

1,658

Depreciation and amortization

23,893

24,059

48,184

48,409

Interest expense

15,829

15,162

31,271

29,543

Equity in earnings of affiliate

(105

)

(59

)

(173

)

(114

)

NOI

37,894

38,036

75,531

75,796

Less Non-Same Store

Revenues

(1,443

)

—

(3,000

)

Operating expenses

479

—

1,102

(19

)

Same Store NOI

36,930

38,036

73,633

75,773

(1)

Adjustment to net loss to exclude certain property operating expenses that are casualty-related expenses/(recoveries).

(2)

Adjustment to net loss to exclude certain property general and administrative expenses that are not reflective of the continuing operations of the properties or are incurred on our behalf at the property for expenses such as legal, professional, centralized leasing service and franchise tax fees.

NXRT.NEXPOINT.COM

Page 12

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

Q2 Same Store Results of Operations for the Three Months Ended June 30, 2026 and 2025

There are 35 properties encompassing 12,984 units of apartment space, or approximately 98% of our Portfolio, in our same store pool for the three months ended June 30, 2026 and 2025 (our “Q2 Same Store” properties). Our Q2 Same Store properties exclude the following property in our Portfolio as of June 30, 2026: Sedona at Lone Mountain.

As of June 30, 2026, our Q2 Same Store properties were approximately 93.6% leased with a weighted average monthly effective rent per occupied apartment unit of $1,487, year-over-year increase of 30 bps and a decrease of $13, respectively.

The following table reflects the revenues, property operating expenses and NOI for the three months ended June 30, 2026 and 2025 for our Q2 Same Store and Non-Same Store properties (dollars in thousands):

For the Three Months Ended June 30,

2026

2025

$ Change

% Change

Revenues

Same Store

Rental income

60,400

61,230

(830

)

-1.4

Other income

2,001

1,549

452

29.2

Same Store revenues

62,401

62,779

(378

)

-0.6

Non-Same Store

Rental income

1,402

—

1,402

0.0

Other income

—

0.0

Non-Same Store revenues

1,443

—

1,443

0.0

Total revenues

63,844

62,779

1,065

1.7

Operating expenses

Same Store

Property operating expenses (1)

14,238

13,321

917

6.9

Real estate taxes and insurance

8,081

8,485

(404

)

-4.8

Property management fees (2)

1,786

1,806

(20

)

-1.1

Property general and administrative expenses (3)

1,390

1,275

115

9.0

Same Store operating expenses

25,495

24,887

608

2.4

Non-Same Store

Property operating expenses

275

—

275

0.0

Real estate taxes and insurance

122

—

122

0.0

Property management fees (2)

—

0.0

Property general and administrative expenses (4)

—

0.0

Non-Same Store operating expenses

479

—

479

0.0

Total operating expenses

25,974

24,887

1,087

4.4

Operating income

Same Store

Miscellaneous income

144

(120

)

N/M

Total operating income

144

(120

)

N/M

NOI

Same Store

36,930

38,036

(1,106

)

-2.9

Non-Same Store

964

—

964

0.0

Total NOI (5)

37,894

38,036

(142

)

-0.4

(1)

For the three months ended June 30, 2026 and 2025, excludes approximately $77,000 and $(792,000), respectively, of casualty-related expenses/(recoveries).

(2)

Fees incurred to an unaffiliated third party that is an affiliate of a noncontrolling limited partner of the OP.

NXRT.NEXPOINT.COM

Page 13

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

(3)

For the three months ended June 30, 2026 and 2025, excludes approximately $1,062,000 and $835,000, respectively, of expenses that are not reflective of the continuing operations of the properties or are incurred on our behalf at the property for expenses such as legal, professional, centralized leasing service and franchise tax fees.

(4)

For the three months ended June 30, 2026 and 2025, excludes approximately $26,000 and $33,000, respectively, of expenses that are not reflective of the continuing operations of the properties or are incurred on our behalf at the property for expenses such as legal, professional, centralized leasing service and franchise tax fees.

(5)

For additional information regarding NOI, see the “Definitions and Reconciliations of Non-GAAP Measures” and “NOI and Same Store NOI” sections of this release.

The following table contains additional information about our Q2 Same Store properties rent and occupancy metrics, revenues, operating expenses and NOI for the three months ended June 30, 2026 and 2025 (dollars in thousands, except for per unit data):

Q2 2026

Q2 2025

% Change

Same Store Total Units

12,984

12,946

Same Store Occupied Units

12,146

12,075

Same Store Ending Occupancy

93.6

93.3

0.3

Same Store Average Rent per Unit

1,487

1,500

-0.9

Same Store Revenues

Same Store Rental Income

60,400

61,230

-1.4

Same Store Other Income

2,001

1,549

29.2

Total Same Store Revenues

62,401

62,779

-0.6

Same Store Operating Expenses

Payroll

4,757

4,805

-1.0

Repairs & Maintenance

6,456

5,666

13.9

Utilities

3,025

2,850

6.1

Real Estate Taxes

6,942

7,195

-3.5

Insurance

1,139

1,290

-11.7

Property Management Fees

1,786

1,806

-1.1

Office Operations

934

945

-1.2

Marketing

456

330

38.2

Total Same Store Operating Expenses

25,495

24,887

2.4

Same Store Operating Income

Miscellaneous Income

144

N/M

Total Same Store Operating Income

144

N/M

Q2 Same Store NOI

36,930

38,036

-2.9

NXRT.NEXPOINT.COM

Page 14

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

Q2 Same Store Properties Operating Metrics

(dollars in thousands, except for per unit data)

Properties by Market (1)

Unit Count

Average Effective Rent

Occupancy

Total Rental Income

Total

Q2 2026

Q2 2025

% Change

Q2 2026

Q2 2025

bps ∆

Q2 2026

Q2 2025

% Change

Texas

Dallas

1,945

1,207

1,235

-2.3%

92.2

92.6

-40

7,486

7,848

-4.6%

Average/Total

1,945

1,207

1,235

-2.3%

92.2

92.6

-40

7,486

7,848

-4.6%

North Carolina

Charlotte

504

1,405

1,390

1.1%

94.8

95.2

-40

2,304

2,283

0.9%

Raleigh/Durham

625

1,441

1,397

3.1%

94.2

93.9

2,769

2,724

1.7%

Average/Total

1,129

1,425

1,394

2.2%

94.5

5,073

5,007

1.3%

Georgia

Atlanta

1,692

1,450

1,467

-1.2%

95.0

93.7

130

7,581

7,615

-0.4%

Average/Total

1,692

1,450

1,467

-1.2%

95.0

93.7

130

7,581

7,615

-0.4%

Tennessee

Nashville

1,338

1,252

1,265

-1.0%

93.8

94.4

-60

5,283

5,496

-3.9%

Average/Total

1,338

1,252

1,265

-1.0%

93.8

94.4

-60

5,283

5,496

-3.9%

Florida

Orlando

1,172

1,526

1,568

-2.7%

94.3

93.4

5,417

5,584

-3.0%

Tampa

576

1,343

1,324

1.4%

93.9

92.9

100

2,369

2,432

-2.6%

South Florida

1,959

2,145

2,154

-0.4%

94.7

94.6

13,231

13,116

0.9%

Average/Total

3,707

1,825

1,840

-0.8%

94.5

94.0

21,017

21,132

-0.5%

Arizona

Phoenix

2,009

1,395

1,442

-3.3%

91.9

91.2

8,958

9,141

-2.0%

Average/Total

2,009

1,395

1,442

-3.3%

91.9

91.2

8,958

9,141

-2.0%

Nevada

Las Vegas

1,164

1,402

1,356

3.4%

92.4

92.5

-10

5,002

4,991

0.2%

Average/Total

1,164

1,402

1,356

3.4%

92.4

92.5

-10

5,002

4,991

0.2%

Average/Total

12,984

1,487

1,500

-0.9%

93.6

93.3

60,400

61,230

-1.4%

(1)

This table includes the 35 properties in our Q2 Same Store pool.

NXRT.NEXPOINT.COM

Page 15

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

QoQ Same Store Properties Operating Metrics

(dollars in thousands, except for per unit data)

Properties by Market (1)

Unit Count

Average Effective Rent

Occupancy

Total Rental Income

Total

Q2 2026

Q1 2026

% Change

Q2 2026

Q1 2026

bps ∆

Q2 2026

Q1 2026

% Change

Texas

Dallas

1,945

1,207

0.0%

92.2

92.0

7,486

7,552

-0.9%

Average/Total

1,945

1,207

0.0%

92.2

92.0

7,486

7,552

-0.9%

North Carolina

Charlotte

504

1,405

1,396

0.6%

94.8

93.7

110

2,304

2,224

3.6%

Raleigh/Durham

625

1,441

1,431

0.7%

94.2

94.1

2,769

2,710

2.2%

Average/Total

1,129

1,425

1,415

0.7%

94.5

93.9

5,073

4,934

2.8%

Georgia

Atlanta

1,692

1,450

0.0%

95.0

92.6

240

7,581

7,436

1.9%

Average/Total

1,692

1,450

0.0%

95.0

92.6

240

7,581

7,436

1.9%

Tennessee

Nashville

1,338

1,252

1,244

0.6%

93.8

92.6

120

5,283

5,257

0.5%

Average/Total

1,338

1,252

1,244

0.6%

93.8

92.6

120

5,283

5,257

0.5%

Florida

Orlando

1,172

1,526

1,535

-0.6%

94.3

92.8

150

5,417

5,309

2.0%

Tampa

576

1,343

1,337

0.4%

93.9

92.9

100

2,369

2,345

1.0%

South Florida

1,959

2,145

2,127

0.8%

94.7

95.2

-50

13,231

12,794

3.4%

Average/Total

3,707

1,825

1,817

0.4%

94.5

94.1

21,017

20,448

2.8%

Arizona

Phoenix

2,009

1,395

0.0%

91.9

95.1

-320

8,958

8,900

0.7%

Average/Total

2,009

1,395

0.0%

91.9

95.1

-320

8,958

8,900

0.7%

Nevada

Las Vegas

1,164

1,402

1,378

1.7%

92.4

94.5

-210

5,002

5,013

-0.2%

Average/Total

1,164

1,402

1,378

1.7%

92.4

94.5

-210

5,002

5,013

-0.2%

Average/Total

12,984

1,487

1,482

0.3%

93.6

0.0%

60,400

59,540

1.4%

(1)

This table includes the 35 properties in our Q2 Same Store pool.

YTD Same Store Results of Operations for the Six Months Ended June 30, 2026 and 2025

There are 35 properties encompassing 12,984 units of apartment space, or approximately 98% of our Portfolio, in our same store pool for the six months ended June 30, 2026 and 2025 (our “YTD Same Store” properties).

As of June 30, 2026, our YTD Same Store properties were approximately 93.6% leased with a weighted average monthly effective rent per occupied apartment unit of $1,487, year-over-year increase of 30 bps and a decrease of $13, respectively.

NXRT.NEXPOINT.COM

Page 16

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

The following table reflects the revenues, property operating expenses and NOI for the six months ended June 30, 2026 and 2025 for our YTD Same Store and Non-Same Store properties (dollars in thousands):

For the Six Months Ended June 30,

2026

2025

$ Change

% Change

Revenues

Same Store

Rental income

119,943

122,666

(2,723

)

-2.2

Other income

3,855

2,883

972

33.7

Same Store revenues

123,798

125,549

(1,751

)

-1.4

Non-Same Store

Rental income

2,915

2,911

N/M

Other income

—

0.0

Non-Same Store revenues

3,000

2,996

N/M

Total revenues

126,798

125,553

1,245

1.0

Operating expenses

Same Store

Property operating expenses (1)

28,049

26,443

1,606

6.1

Real estate taxes and insurance

15,891

17,510

(1,619

)

-9.2

Property management fees (2)

3,559

3,626

(67

)

-1.8

Property general and administrative expenses (3)

2,764

2,483

281

11.3

Same Store operating expenses

50,263

50,062

201

0.4

Non-Same Store

Property operating expenses (4)

559

557

N/M

Real estate taxes and insurance

391

(23

)

414

N/M

Property management fees (2)

—

0.0

Property general and administrative expenses (5)

N/M

Non-Same Store operating expenses

1,102

(19

)

1,121

N/M

Total operating expenses

51,365

50,043

1,322

2.6

Operating income

Same Store

Miscellaneous income

286

(188

)

N/M

Non-Same Store

Miscellaneous income

—

0.0

Total operating income

286

(188

)

-65.7

NOI

Same Store

73,633

75,773

(2,140

)

-2.8

Non-Same Store

1,898

1,875

N/M

Total NOI (6)

75,531

75,796

(265

)

-0.3

(1)

For the six months ended June 30, 2026 and 2025, excludes approximately $172,000 and $(1,449,000), respectively, of casualty-related expenses/(recoveries).

(2)

Fees incurred to an unaffiliated third party that is an affiliate of a noncontrolling limited partner of the OP.

(3)

For the six months ended June 30, 2026 and 2025, excludes approximately $1,869,000 and $1,626,000, respectively, of expenses that are not reflective of the continuing operations of the properties or are incurred on our behalf at the property for expenses such as legal, professional, centralized leasing service and franchise tax fees.

(4)

For the six months ended June 30, 2026 and 2025, excludes approximately $2,000 and $1,000, respectively, of casualty-related expenses.

(5)

For the six months ended June 30, 2026 and 2025, excludes approximately $70,000 and $32,000, respectively, of expenses that are not reflective of the continuing operations of the properties or are incurred on our behalf at the property for expenses such as legal, professional, centralized leasing service and franchise tax fees.

(6)

For additional information regarding NOI, see the “Definitions and Reconciliations of Non-GAAP Measures” and “NOI and Same Store NOI” sections of this release.

NXRT.NEXPOINT.COM

Page 17

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

The following table contains additional information about our YTD Same Store properties rent and occupancy metrics, revenues, operating expenses and NOI for the six months ended June 30, 2026 and 2025 (dollars in thousands, except for per unit data):

YTD 2026

YTD 2025

% Change

Same Store Total Units

12,984

12,946

Same Store Occupied Units

12,146

12,075

Same Store Ending Occupancy

93.6

93.3

0.3

Same Store Average Rent per Unit

1,487

1,500

-0.9

Same Store Revenues

Same Store Rental Income

119,943

122,666

-2.2

Same Store Other Income

3,855

2,883

33.7

Total Same Store Revenues

123,798

125,549

-1.4

Same Store Operating Expenses

Payroll

9,499

9,756

-2.6

Repairs & Maintenance

12,484

10,904

14.5

Utilities

6,066

5,783

4.9

Real Estate Taxes

13,452

14,523

-7.4

Insurance

2,439

2,987

-18.3

Property Management Fees

3,559

3,626

-1.8

Office Operations

1,849

0.0

Marketing

915

634

44.3

Total Same Store Operating Expenses

50,263

50,062

0.4

Same Store Operating Income

Miscellaneous Income

286

-65.7

Total Same Store Operating Income

286

-65.7

YTD Same Store NOI

73,633

75,773

-2.8

NXRT.NEXPOINT.COM

Page 18

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

FFO, Core FFO and AFFO

The following table reconciles our calculations of FFO, Core FFO and AFFO to net loss, the most directly comparable GAAP financial measure, for the three and six months ended June 30, 2026 and 2025 (in thousands, except per share amounts):

For the Three Months Ended June 30,

For the Six Months Ended June 30,

2026

2025

2026

2025

% Change

Net loss

(8,645

)

(7,061

)

(15,426

)

(13,985

)

-10.3

Depreciation and amortization

23,893

24,059

48,184

48,409

-0.5

Adjustment for noncontrolling interests

(60

)

(67

)

(129

)

(136

)

5.1

FFO attributable to common stockholders

15,188

16,931

32,629

34,288

-4.8

FFO per share - basic

0.60

0.67

1.28

1.35

-5.2

FFO per share - diluted

0.60

0.67

1.28

1.34

-4.5

Casualty-related expenses/(recoveries)

(792

)

(1,662

)

(1,448

)

-14.8

Casualty loss

—

168

N/M

Amortization of deferred financing costs

1,684

1,628

3,367

3,272

2.9

Mark-to-market adjustments of interest rate caps

(29

)

187

(127

)

778

N/M

Adjustment for noncontrolling interests

)

(11

)

45.5

Core FFO attributable to common stockholders

16,926

17,955

34,201

37,047

-7.7

Core FFO per share - basic

0.66

0.71

1.34

1.46

-8.2

Core FFO per share - diluted

0.66

0.71

1.34

1.45

-7.6

Equity-based compensation expense

2,736

2,335

5,098

4,810

6.0

Adjustment for noncontrolling interests

(11

)

(20

)

(19

)

-5.3

AFFO attributable to common stockholders

19,651

20,281

39,279

41,838

-6.1

AFFO per share - basic

0.77

0.80

1.54

1.65

-6.7

AFFO per share - diluted

0.77

0.80

1.54

1.64

-6.1

Weighted average common shares outstanding - basic

25,517

25,384

25,458

25,416

0.2

Weighted average common shares outstanding - diluted

(1)

25,517

25,404

25,491

25,540

-0.2

Dividends declared per common share

0.53

0.51

1.06

1.02

3.9

Net loss Coverage - diluted

(2)

-0.64x

-0.55x

-0.57x

-0.54x

5.0

FFO Coverage - diluted

(2)

1.12x

1.31x

1.21x

1.31x

-8.1

Core FFO Coverage - diluted

(2)

1.25x

1.39x

1.26x

1.42x

-11.1

AFFO Coverage - diluted

(2)

1.45x

1.57x

1.45x

1.61x

-9.6

(1)

The Company uses diluted weighted average common shares outstanding when in a dilutive position for FFO, Core FFO and AFFO. For periods in which potential common shares are anti‑dilutive, diluted weighted‑average shares outstanding are equal to basic weighted‑average shares outstanding.

(2)

Indicates coverage ratio of net loss/FFO/Core FFO/AFFO per common share (diluted) over dividends declared per common share during the period.

NXRT.NEXPOINT.COM

Page 19

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

Historical Capital Expenditures

Q2 2026

Q2 2025

Change

YTD 2026

YTD 2025

Change

($ in thousands)

Capitalized Rehab Expenditures

Interior

1,626

1,329

22.3

2,855

1,980

44.2

Exterior and common area

878

865.4

1,274

149

755.1

Capitalized Maintenance Expenditures

Recurring

4,624

3,247

42.4

8,014

6,044

32.6

Non-Recurring

4,233

4,532

-6.6

6,132

6,818

-10.1

Total Capital Expenditures

11,361

9,199

23.5

18,275

14,991

21.9

NXRT.NEXPOINT.COM

Page 20

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

Value-Add Program Details: Interiors (Full & Partials)

Property Name (1)

Units

Rehab Units

Completed (2)

Average Rent

Pre-Rehab

Average Rent

Post-Rehab

Avg. Rehab

Cost

Per Unit (3)

Post-Rehab

Rent

Change %

ROI (3)

Value-Add Programs In Progress

Arbors of Brentwood

346

210

1,200

1,392

9,228

16.0

25.0

Arbors on Forest Ridge

210

212

784

874

4,012

11.4

26.8

Atera Apartments

380

295

1,167

1,295

3,095

11.0

49.9

Avant at Pembroke Pines

1,520

919

1,823

2,053

15,761

12.6

17.5

Bella Solara

320

164

1,230

1,360

9,120

10.6

17.2

Bella Vista

248

221

1,456

1,592

10,084

9.3

16.2

Bloom

528

196

1,232

1,367

11,591

10.9

14.0

Brandywine I & II

632

679

1,007

1,186

10,272

17.7

20.8

Courtney Cove

324

369

958

1,052

4,331

9.8

26.0

Creekside at Matthews

240

124

1,332

1,503

8,727

12.9

23.6

Cutter's Point

196

203

940

1,042

5,502

10.9

22.3

Estates on Maryland

330

158

1,237

1,385

10,291

12.0

17.3

Fairways of San Marcos

352

210

1,435

1,574

9,916

9.7

16.9

High House at Cary

302

176

1,327

1,536

10,615

15.8

23.6

Madera Point

256

297

906

1,009

4,225

11.4

29.3

Parc500

217

289

1,353

1,507

11,824

11.4

15.6

Residences at Glenview Reserve

360

346

1,074

1,294

12,742

20.5

20.7

Residences at West Place

342

221

1,501

1,686

11,351

12.3

19.6

Rockledge Apartments

708

635

1,249

1,406

8,557

12.5

22.0

Sabal Palm at Lake Buena Vista

400

205

1,419

1,547

7,657

9.1

20.1

Sedona at Lone Mountain

321

1,047

1,061

1,889

1.4

9.0

Seasons 704 Apartments

222

276

1,242

1,363

7,003

9.8

20.8

Six Forks Station

323

169

1,116

1,376

11,394

23.4

27.5

Summers Landing

196

1,021

1,185

8,284

16.0

23.6

Summit at Sabal Park

252

270

1,012

1,105

5,339

9.2

20.9

The Adair

232

181

1,727

1,995

11,239

15.5

28.6

The Cornerstone

430

588

1,047

1,140

4,627

8.9

24.1

The Enclave

204

198

1,442

1,606

9,290

11.4

21.2

The Heritage

204

199

1,363

1,486

8,816

9.0

16.7

The Preserve at Terrell Mill

752

904

881

1,042

10,027

18.2

19.2

The Verandas at Lake Norman

264

118

1,228

1,376

9,266

12.1

19.2

The Venue on Camelback

415

326

769

1,004

9,693

30.6

29.1

Torreyana Apartments

316

1,370

1,474

10,594

7.6

11.8

Venue at 8651

333

352

860

958

6,174

11.4

19.0

Versailles

388

441

813

892

4,799

9.7

19.7

Versailles II

242

147

835

910

3,499

8.9

25.5

Total/Weighted Average

13,305

10,474

1,165

1,317

8,807

13.1

20.7

(1)

We do not plan to upgrade 100% of the units at each of our properties.

(2)

Inclusive of all full and partial interior upgrades completed through June 30, 2026.

(3)

Inclusive of all full and partial interior upgrades completed and leased through June 30, 2026.

NXRT.NEXPOINT.COM

Page 21

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

Value-Add Program Details: Kitchen & Laundry Appliances

Property Name (1)

Units

Rehab Units

Completed (2)

Avg. Rehab

Cost

Per Unit (3)

Post-Rehab

Rent

Change $

ROI (3)

Value-Add Programs In Progress

Arbors of Brentwood

346

320

874

68.6

Arbors on Forest Ridge

210

136

787

71.4

Atera Apartments

380

369

813

59.7

Avant at Pembroke Pines

1,520

623

1,281

48.7

Brandywine I & II

632

236

1,112

78.3

Creekside at Matthews

240

183

1,103

60.4

Cutter's Point

196

156

806

69.4

Estates on Maryland

330

1,067

42.3

Madera Point

256

158

893

41.3

Residences at Glenview Reserve

360

112

1,261

52.3

Rockledge Apartments

708

630

826

58.1

Sabal Palm at Lake Buena Vista

400

634

599

171.8

Six Forks Station

323

199

1,088

60.7

Summers Landing

196

113

897

77.7

Summit at Sabal Park

252

249

994

48.3

The Adair

232

1,083

92.8

The Cornerstone

430

809

74.2

The Verandas at Lake Norman

264

222

1,085

51.5

Venue at 8651

333

273

780

72.4

Versailles

388

324

887

66.5

Versailles II

242

144

898

39.8

Total/Weighted Average

8,238

5,130

962

63.4

(1)

We do not plan to upgrade 100% of the units at each of our properties.

(2)

Inclusive of all kitchen and laundry appliance upgrades completed through June 30, 2026.

(3)

Inclusive of all kitchen and laundry appliance upgrades completed and leased through June 30, 2026.

NXRT.NEXPOINT.COM

Page 22

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

Value-Add Program Details: Smart Home Technology Packages

Property Name (1)

Units

Rehab Units

Completed (2)

Avg. Rehab

Cost

Per Unit (3)

Post-Rehab

Rent

Change $

ROI (3)

Value-Add Programs In Progress

Arbors of Brentwood

346

1,419

30.9

Arbors on Forest Ridge

210

1,416

30.9

Atera Apartments

380

1,339

37.0

Avant at Pembroke Pines

1,520

1,350

32.4

Bella Solara

320

820

39.5

Bella Vista

248

970

39.3

Bloom

528

901

42.3

Brandywine I & II

632

1,234

35.5

Courtney Cove

324

1,238

26.2

Creekside at Matthews

240

913

72.9

Cutter's Point

196

1,400

31.3

Estates on Maryland

330

1,074

14.2

Fairways of San Marcos

352

901

42.3

High House at Cary

302

899

74.1

Madera Point

256

1,283

34.1

Residences at Glenview Reserve

360

1,017

43.1

Rockledge Apartments

708

942

34.4

Sabal Palm at Lake Buena Vista

400

1,237

35.4

Six Forks Station

323

844

38.4

Summers Landing

196

1,449

30.2

The Adair

232

913

48.0

The Cornerstone

430

1,236

35.4

The Enclave

204

966

39.4

The Heritage

204

997

38.2

The Venue on Camelback Apartments

415

808

33.0

The Verandas at Lake Norman

264

954

69.8

Torreyana Apartments

316

900

36.0

Venue at 8651

333

1,229

35.6

Versailles

388

1,080

40.6

Versailles II

242

1,241

35.3

Total/Weighted Average

11,199

1,113

37.2

Planned Value-Add Programs

Rent Change & ROI

(Projections)

Residences at West Place

342

—

TBD

Seasons 704 Apartments

222

—

TBD

Sedona at Lone Mountain

321

—

TBD

Summit at Sabal Park

252

—

TBD

The Preserve at Terrell Mill

752

—

TBD

Total/Weighted Average Planned

1,889

—

TBD

(1)

We do not plan to upgrade 100% of the units at each of our properties.

(2)

Inclusive of all smart home technology package upgrades completed through June 30, 2026.

(3)

Inclusive of all smart home technology package upgrades completed and leased through June 30, 2026.

NXRT.NEXPOINT.COM

Page 23

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

Outstanding Debt Details

Mortgage Debt

The following table contains summary information concerning the mortgage debt of the Company as of June 30, 2026 (dollars in thousands):

Operating Properties

Type

Term (months)

Outstanding

Principal

Interest Rate (1)

Maturity Date

Residences at West Place

Fixed

120

33,817

4.24%

10/1/2028

Arbors of Brentwood

Floating

39,977

4.72%

10/1/2031

Avant at Pembroke Pines

Floating

248,185

4.72%

10/1/2031

Bella Vista

Floating

37,400

4.72%

10/1/2031

Brandywine I & II

Floating

59,526

4.72%

10/1/2031

Cornerstone

Floating

45,815

4.72%

10/1/2031

Estates on Maryland

Floating

37,345

4.72%

10/1/2031

High House at Cary

Floating

32,478

4.72%

10/1/2031

Residences at Glenview Reserve

Floating

33,271

4.72%

10/1/2031

Sabal Palm at Lake Buena Vista

Floating

56,220

4.72%

10/1/2031

Six Forks Station

Floating

30,430

4.72%

10/1/2031

Summers Landing

Floating

14,135

4.72%

10/1/2031

The Adair

Floating

33,229

4.72%

10/1/2031

The Enclave

Floating

33,440

4.72%

10/1/2031

The Heritage

Floating

29,810

4.72%

10/1/2031

The Venue on Camelback

Floating

36,465

4.72%

10/1/2031

The Verandas at Lake Norman

Floating

30,113

4.72%

10/1/2031

Versailles II

Floating

15,706

4.72%

10/1/2031

Arbors on Forest Ridge

Floating

17,307

4.72%

12/1/2031

Atera Apartments

Floating

38,555

4.72%

12/1/2031

Bella Solara

Floating

37,772

4.72%

12/1/2031

Bloom

Floating

60,848

4.72%

12/1/2031

Courtney Cove

Floating

31,596

4.72%

12/1/2031

Creekside at Matthews

Floating

28,703

4.72%

12/1/2031

Cutter's Point

Floating

18,994

4.72%

12/1/2031

Fairways at San Marcos

Floating

55,056

4.72%

12/1/2031

Madera Point

Floating

29,676

4.72%

12/1/2031

Parc500

Floating

30,012

4.72%

12/1/2031

Rockledge Apartments

Floating

78,444

4.72%

12/1/2031

Seasons 704 Apartments

Floating

33,960

4.72%

12/1/2031

The Preserve at Terrell Mill

Floating

74,341

4.72%

12/1/2031

The Summit at Sabal Park

Floating

26,735

4.72%

12/1/2031

Torreyana Apartments

Floating

43,153

4.72%

12/1/2031

Venue at 8651

Floating

24,620

4.72%

12/1/2031

Versailles

Floating

26,108

4.72%

12/1/2031

Sedona at Lone Mountain

Floating

40,287

4.86%

2/1/2033

1,543,529

Fair market value adjustment

238

(2)

Deferred financing costs, net of accumulated amortization of $9,966

(31,898

)

1,511,869

(1)

Interest rate is based on a reference rate plus an applicable margin, except for fixed rate mortgage debt. The reference rate used in our Portfolio is 30-Day Average Secured Overnight Financing Rate ("SOFR"). As of June 30, 2026, SOFR was 3.63%.

(2)

The Company reflected a valuation adjustment on its fixed rate debt for Residences at West Place to adjust it to fair market value on its respective date of acquisition for the difference between the fair value and the assumed principal amount of debt. The difference is amortized into interest expense over the remaining term of the mortgage.

NXRT.NEXPOINT.COM

Page 24

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

Interest Rate Swap Agreements

As of June 30, 2026, the Company had the following outstanding interest rate swaps that were designated as cash flow hedges of interest rate risk (dollars in thousands):

Effective Date

Termination Date

Counterparty

Notional Amount

Fixed Rate (1)

September 1, 2019

September 1, 2026

KeyBank

100,000

1.462

September 1, 2019

September 1, 2026

KeyBank

125,000

1.302

January 3, 2020

September 1, 2026

KeyBank

92,500

1.609

June 1, 2021

September 1, 2026

KeyBank

200,000

0.845

June 1, 2021

September 1, 2026

KeyBank

200,000

0.953

April 3, 2025

April 1, 2030

JPM

100,000

3.489

817,500

1.427

(2)

(1)

The floating rate option for the interest rate swaps is SOFR plus 0.11448% (“Adjusted SOFR”) other than for the J.P. Morgan Chase Bank, N.A. ("JPM") swap which is based on SOFR. As of June 30, 2026, Adjusted SOFR and SOFR were 3.75% and 3.63%, respectively.

(2)

Represents the weighted average fixed rate of the interest rate swaps.

The following table contains summary information regarding our forward interest rate swap (dollars in thousands):

Effective Date

Termination Date

Counterparty

Notional Amount

Fixed Rate (1)

September 1, 2026

January 1, 2027

KeyBank

92,500

1.798

(1)

The floating rate option for the interest rate swap is Adjusted SOFR. As of June 30, 2026, Adjusted SOFR was 3.75%.

NXRT.NEXPOINT.COM

Page 25

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

Interest Rate Cap Agreements

As of June 30, 2026, the Company had the following interest rate caps outstanding that were not designated as cash flow hedges of interest rate risk (dollars in thousands):

Properties

Type

Maturity Date

Notional

Strike Rate

Avant at Pembroke Pines

Floating

10/1/2027

248,185

8.16%

Brandywine I & II

Floating

10/1/2027

59,526

8.16%

Sabal Palm at Lake Buena Vista

Floating

10/1/2027

56,220

8.41%

Cornerstone

Floating

10/1/2027

45,815

8.66%

Arbors of Brentwood

Floating

10/1/2027

39,977

8.16%

Bella Vista

Floating

10/1/2027

37,400

8.91%

Estates on Maryland

Floating

10/1/2027

37,345

8.91%

The Venue on Camelback

Floating

10/1/2027

36,465

8.16%

The Enclave

Floating

10/1/2027

33,440

8.66%

Residences at Glenview Reserve

Floating

10/1/2027

33,271

8.16%

The Adair

Floating

10/1/2027

33,229

8.16%

High House at Cary

Floating

10/1/2027

32,478

8.16%

Six Forks Station

Floating

10/1/2027

30,430

8.16%

The Verandas at Lake Norman

Floating

10/1/2027

30,113

8.16%

The Heritage

Floating

10/1/2027

29,810

8.91%

Versailles II

Floating

10/1/2027

15,706

8.16%

Summers Landing

Floating

10/1/2027

14,135

8.66%

Rockledge Apartments

Floating

12/1/2027

78,444

7.66%

The Preserve at Terrell Mill

Floating

12/1/2027

74,341

7.66%

Bloom

Floating

12/1/2027

60,848

7.66%

Fairways at San Marcos

Floating

12/1/2027

55,056

7.66%

Torreyana Apartments

Floating

12/1/2027

43,153

7.66%

Atera Apartments

Floating

12/1/2027

38,555

7.66%

Bella Solara

Floating

12/1/2027

37,772

7.66%

Seasons 704 Apartments

Floating

12/1/2027

33,960

7.66%

Courtney Cove

Floating

12/1/2027

31,596

7.66%

Parc500

Floating

12/1/2027

30,012

7.66%

Madera Point

Floating

12/1/2027

29,676

7.66%

Creekside at Matthews

Floating

12/1/2027

28,703

7.66%

The Summit at Sabal Park

Floating

12/1/2027

26,735

7.66%

Versailles

Floating

12/1/2027

26,108

7.66%

Venue at 8651

Floating

12/1/2027

24,620

7.66%

Cutter's Point

Floating

12/1/2027

18,994

7.66%

Arbors on Forest Ridge

Floating

12/1/2027

17,307

7.66%

Sedona at Lone Mountain

Floating

2/1/2029

40,287

7.17%

1,509,712

8.01%

NXRT.NEXPOINT.COM

Page 26

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

Debt Maturity Schedule

The following table summarizes our contractual obligations and commitments as of June 30, 2026 for the next five calendar years subsequent to June 30, 2026 and thereafter. We used the applicable reference rate as of June 30, 2026 to calculate interest expense due by period on our floating rate debt and net interest expense due by period on our interest rate swaps.

Payments Due by Period (in thousands)

Total

Remainder of 2026

2027

2028

2029

2030

Thereafter

Operating Properties Mortgage Debt

Principal payments

1,543,529

—

33,817

—

1,509,712

Interest expense

(1)

403,664

34,294

79,566

76,542

73,910

74,515

64,837

Total

1,947,193

34,294

79,566

110,359

73,910

74,515

1,574,549

Credit Facility

Principal payments

79,145

—

79,145

—

Interest expense

9,918

2,460

5,027

2,431

—

Total

89,063

2,460

5,027

81,576

—

Total contractual obligations and commitments

2,036,256

36,754

84,593

191,935

73,910

74,515

1,574,549

(1)

Interest expense obligations includes the impact of expected settlements on interest rate swaps which have been entered into in order to fix the interest rate on the hedged portion of our floating rate debt obligations. As of June 30, 2026, we had entered into 6 interest rate swap transactions with a combined notional amount of $0.8 billion and one forward rate swap agreement with a notional amount of approximately $0.1 billion. We have allocated the total impact of expected settlements on the $0.9 billion notional amount of interest rate swaps to ‘Operating Properties Mortgage Debt.’ We used the applicable reference rate as of June 30, 2026 to determine our expected settlements through the terms of the interest rate swaps.

(1)

As of June 30, 2026, we had total indebtedness of $1.6 billion at an adjusted weighted average interest rate of 3.58% of which $1.6 billion was debt with a floating interest rate. As of June 30, 2026, the interest rate swap agreements we have entered into effectively fix the interest rate on 54% of our $1.5 billion of floating rate mortgage debt outstanding. For purposes of calculating the adjusted weighted average interest rate of the total indebtedness, we have included the weighted average fixed rate of 1.43% for the floating interest rate on the $0.8 billion notional amount of interest rate swap agreements that we have entered into as of June 30, 2026, which effectively fix the interest rate on the combined $0.8 billion of our floating rate mortgage debt outstanding.

(2)

Debt maturity schedule as of June 30, 2026.

NXRT.NEXPOINT.COM

Page 27

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

Historical Acquisition Details

(in thousands, except for unit and per unit amounts)

Property Name (1)

Location

Units

Transaction Date

Purchase Price

Rehab Budget (2)

Total Investment

Per Unit

Arbors on Forest Ridge

Bedford, TX

210

1/31/2014

12,805

1,880

14,685

69,929

Cutter's Point

Richardson, TX

196

1/31/2014

15,845

1,880

17,725

90,434

The Summit at Sabal Park

Tampa, FL

252

8/20/2014

19,050

1,867

20,917

83,004

Courtney Cove

Tampa, FL

324

8/20/2014

18,950

1,819

20,769

64,102

Sabal Palm at Lake Buena Vista

Orlando, FL

400

11/5/2014

49,500

11,347

60,847

152,118

Cornerstone

Orlando, FL

430

1/15/2015

31,550

2,802

34,352

79,888

The Preserve at Terrell Mill

Marietta, GA

752

2/6/2015

58,000

16,313

74,313

98,820

Versailles

Dallas, TX

388

2/26/2015

26,165

4,674

30,839

79,482

Seasons 704 Apartments

West Palm Beach, FL

222

4/15/2015

21,000

2,026

23,026

103,721

Madera Point

Mesa, AZ

256

8/5/2015

22,525

1,932

24,457

95,535

Venue at 8651

Fort Worth, TX

333

10/30/2015

19,250

4,592

23,842

71,598

Parc500

West Palm Beach, FL

217

7/27/2016

22,421

5,113

27,534

126,885

The Venue on Camelback

Phoenix, AZ

415

10/11/2016

44,600

6,202

50,802

122,414

Rockledge Apartments

Marietta, GA

708

6/30/2017

113,500

20,490

133,990

189,251

Atera Apartments

Dallas, TX

380

10/25/2017

59,200

3,737

62,937

165,624

Versailles II

Dallas, TX

242

9/26/2018

24,680

3,376

28,056

115,934

Brandywine I & II

Nashville, TN

632

9/26/2018

79,800

7,310

87,110

137,832

Bella Vista

Phoenix, AZ

248

1/28/2019

48,400

3,404

51,804

208,887

The Enclave

Tempe, AZ

204

1/28/2019

41,800

2,613

44,413

217,711

The Heritage

Phoenix, AZ

204

1/28/2019

41,900

2,660

44,560

218,431

Summers Landing

Fort Worth, TX

196

6/7/2019

19,396

2,997

22,393

114,250

Residences at Glenview Reserve

Nashville, TN

360

7/17/2019

45,000

6,079

51,079

141,886

Residences at West Place

Orlando, FL

342

7/17/2019

55,000

4,505

59,505

173,991

Avant at Pembroke Pines

Pembroke Pines, FL

1,520

8/30/2019

322,000

37,743

359,743

236,673

Arbors of Brentwood

Nashville, TN

346

9/10/2019

62,250

4,248

66,498

192,191

Torreyana Apartments

Las Vegas, NV

316

11/22/2019

68,000

2,771

70,771

223,959

Bloom

Las Vegas, NV

528

11/22/2019

106,500

4,786

111,286

210,769

Bella Solara

Las Vegas, NV

320

11/22/2019

66,500

3,642

70,142

219,194

Fairways at San Marcos

Chandler, AZ

352

11/2/2020

84,480

4,366

88,846

252,403

The Verandas at Lake Norman

Cornelius, NC

264

6/30/2021

63,500

4,812

68,312

258,758

Creekside at Matthews

Matthews, NC

240

6/30/2021

58,000

4,128

62,128

258,867

Six Forks Station

Raleigh, NC

323

9/10/2021

74,760

6,431

81,191

251,365

High House at Cary

Cary, NC

302

12/7/2021

93,250

5,247

98,497

326,149

The Adair

Sandy Springs, GA

232

4/1/2022

65,500

5,390

70,890

305,560

Estates on Maryland

Phoenix, AZ

330

4/1/2022

77,900

4,636

82,536

250,109

Sedona at Lone Mountain

Las Vegas, NV

321

12/11/2025

73,250

7,230

80,480

250,717

Total/Weighted Average

13,305

2,106,227

215,048

2,321,275

174,466

(1)

Only includes properties owned as of June 30, 2026.

(2)

Includes interior and exterior rehab.

NXRT.NEXPOINT.COM

Page 28

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

Historical Disposition Details

(in thousands, except unit and per unit amounts)

Property Name

Location

Units

Purchase

Price

Sale

Price

Sales Price Per Unit

Sale Date

Net Cash

Proceeds (1)

Gain on

Sale

Meridian

Austin, TX

200

12,300

17,250

86,250

5/10/2016

16,981

4,786

Park at Regency and Mandarin Reserve

Jacksonville, FL

679

34,500

47,000

69,219

6/6/2016

46,239

11,584

Park at Blanding and Colonial Forest

Jacksonville, FL

291

12,000

14,500

49,828

8/31/2016

14,259

2,007

Willowdale Crossings

Frederick, MD

432

41,000

45,200

104,630

9/15/2016

44,439

5,576

Jade Park

Dayton Beach, FL

144

7,800

10,000

69,444

9/30/2016

9,868

1,979

The Miramar Apartments

Dallas, TX

314

8,875

16,550

52,707

4/3/2017

16,326

6,368

Toscana

Dallas, TX

192

8,875

13,250

69,010

4/3/2017

13,040

4,283

The Grove at Alban

Frederick, MD

290

23,050

27,500

94,828

4/3/2017

27,021

4,514

Twelve 6 Ten at the Park

Dallas, TX

402

20,984

26,600

66,169

4/27/2017

26,349

4,731

Regatta Bay

Seabrook, TX

240

18,200

28,200

117,500

7/14/2017

27,670

10,423

NAVA Portfolio (2)

Atlanta, GA

1,100

66,200

116,000

105,455

9/27/2017

114,010

48,046

Timberglen

Dallas, TX

304

16,950

30,000

98,684

1/31/2018

29,553

13,742

Edgewater at Sandy Springs

Atlanta, GA

760

58,000

101,250

133,224

8/28/2019

100,219

47,329

Belmont at Duck Creek

Garland, TX

240

18,525

29,500

122,917

8/28/2019

29,148

11,985

The Ashlar

Dallas, TX

264

16,235

29,400

111,364

8/28/2019

29,050

13,205

Heatherstone

Dallas, TX

152

9,450

16,275

107,072

8/28/2019

16,054

6,368

The Pointe at the Foothills

Mesa, AZ

528

52,275

85,400

161,742

8/28/2019

84,663

37,925

Abbington Heights

Antioch, TN

274

17,900

28,050

102,372

8/30/2019

27,630

10,888

Southpoint Reserve at Stoney Creek

Fredericksburg, VA

156

17,000

23,500

150,641

3/20/2020

23,176

5,469

Willow Grove

Nashville, TN

244

13,750

31,300

128,279

3/26/2020

31,005

17,513

Woodbridge

Nashville, TN

220

16,000

31,700

144,091

3/26/2020

31,237

15,990

Eagle Crest

Irving, TX

447

27,325

55,500

124,161

9/30/2020

54,779

30,160

Beechwood Terrace

Antioch, TN

300

21,400

53,600

178,667

11/1/2021

53,003

33,960

Cedar Pointe

Antioch, TN

210

26,500

37,650

179,286

11/1/2021

37,231

12,252

Hollister Place

Houston, TX

260

24,500

36,750

141,346

12/29/2022

36,455

14,684

Silverbrook

Grand Prairie, TX

642

30,400

70,000

109,034

9/22/2023

69,431

43,107

Timber Creek

Charlotte, NC

352

22,750

49,000

139,205

12/13/2023

48,348

24,819

Old Farm

Houston, TX

734

84,721

103,000

140,327

3/1/2024

102,704

31,548

Radbourne Lake

Charlotte, NC

225

24,250

39,250

174,444

4/30/2024

38,904

18,847

Stone Creek at Old Farm

Houston, TX

190

23,332

24,500

128,947

10/1/2024

24,095

3,851

Total/Weighted Average

10,786

775,047

1,237,675

114,748

1,222,887

497,939

(1)

Represents sales price, net of closing costs.

(2)

The NAVA Portfolio consists of The Arbors, The Crossings, The Crossings at Holcomb Bridge and The Knolls.

NXRT.NEXPOINT.COM

Page 29

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

Definitions and Reconciliations of Non-GAAP Measures

Definitions

This presentation contains non-GAAP financial measures. A “non-GAAP financial measure” is defined as a numerical measure of a company’s financial performance that excludes or includes amounts so as to be different than the most directly comparable measure calculated and presented in accordance with GAAP in the statements of income (loss), balance sheets or statements of cash flows of the Company. The non-GAAP financial measures used within this presentation are net operating income (“NOI”), funds from operations attributable to common stockholders (“FFO”), FFO per diluted share, Core FFO, Core FFO per diluted share, adjusted FFO (“AFFO”), AFFO per diluted share and net debt.

NOI is a non-GAAP financial measure of performance. NOI is used by investors and our management to evaluate and compare the performance of our properties to other comparable properties, to determine trends in earnings and to compute the fair value of our properties as NOI is calculated by adjusting net income (loss) to add back (1) interest expense, (2) advisory and administrative fees, (3) depreciation and amortization expenses, (4) corporate income and corporate general and administrative expenses that are not reflective of operations of the properties, (5) casualty-related expenses/(recoveries) and casualty loss, (6) property general and administrative expenses that are not reflective of the continuing operations of the properties or are incurred on behalf of the Company at the property for expenses such as legal, professional, centralized leasing service and franchise tax fees and (7) equity in earnings of affiliate. We define “Same Store NOI” as NOI for our properties that are comparable between periods. We view Same Store NOI as an important measure of the operating performance of our properties because it allows us to compare operating results of properties owned for the entirety of the current and comparable periods and therefore eliminates variations caused by acquisitions or dispositions during the periods.

FFO is defined by the National Association of Real Estate Investment Trusts (“NAREIT”), as net income (loss) computed in accordance with GAAP, excluding gains or losses from real estate dispositions, plus real estate depreciation and amortization. We compute FFO in accordance with NAREIT’s definition. Our presentation differs slightly in that we begin with net income (loss) before adjusting for amounts attributable to redeemable noncontrolling interests in the OP and we show the combined amounts attributable to such noncontrolling interests as an adjustment to arrive at FFO attributable to common stockholders.

Core FFO makes certain adjustments to FFO, which are not representative of the ongoing operating performance of our Portfolio. Core FFO adjusts FFO to remove items such as loss on extinguishment of debt and modification costs, casualty-related expenses/(recoveries) and loss (gain), the amortization of deferred financing costs, mark-to-market gains or losses related to interest rate cap agreements not designated as hedges for accounting purposes, and the noncontrolling interests (as described above) related to these items.

AFFO makes certain adjustments to Core FFO in order to arrive at a more refined measure of the operating performance of our portfolio. There is no industry standard definition of AFFO and practice is divergent across the industry. AFFO adjusts Core FFO to remove items such as equity-based compensation expense and the related noncontrolling interests (as described above) related to this item.

Net debt is calculated by subtracting cash and cash equivalents and restricted cash held for value-add upgrades and green improvements from total debt outstanding.

We believe that the use of NOI, FFO, Core FFO, AFFO and net debt, combined with the required GAAP presentations, improves the understanding of operating results and debt levels of REITs among investors and makes comparisons of operating results and debt levels among such companies more meaningful. While NOI, FFO, Core FFO, AFFO and net debt are relevant and widely used measures of operating performance and debt levels of REITs, they do not represent cash flows from operations, net income (loss) or total debt as defined by GAAP and should not be considered an alternative or substitute to those measures in evaluating our liquidity, operating performance and debt levels. NOI, FFO, Core FFO and AFFO do not purport to be indicative of cash available to fund our future cash requirements. We present net debt because we believe it provides our investors a better understanding of our leverage ratio. Net debt should not be considered an alternative or substitute to total debt, as we may not always be able to use our available cash to repay debt. Our computation of NOI, FFO, Core FFO, AFFO and net debt may not be comparable to NOI, FFO, Core FFO, AFFO and net debt reported by other REITs. For a more complete discussion of NOI, FFO, Core FFO and AFFO, see our most recent Annual Report on Form 10-K and our other filings with the SEC.

NXRT.NEXPOINT.COM

Page 30

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

Reconciliations

Reconciliation of Debt to Net Debt

(dollar amounts in thousands)

Q2 2026

Q2 2025

Total mortgage debt

1,543,529

1,503,242

Total credit facility

79,145

—

Total debt outstanding

1,622,674

1,503,242

Adjustments to arrive at net debt:

Cash and cash equivalents

(14,626

)

(13,623

)

Restricted cash held for value-add upgrades and green improvements

(6,564

)

(3,320

)

Net Debt

1,601,484

1,486,299

Enterprise Value (1)

2,314,484

2,331,299

Leverage Ratio (Total Debt to Market Capitalization plus Total Debt)

Leverage Ratio (Net Debt to Enterprise Value)

(1)

Enterprise Value is calculated as Market Capitalization plus net debt.

Guidance Reconciliations of NOI, Same Store NOI, FFO, Core FFO and AFFO

The following table, which has not been adjusted for the effects of noncontrolling interests, reconciles our 2026 NOI guidance to net loss (the most directly comparable GAAP financial measure) guidance for the periods presented below (in thousands):

For the Year Ended

December 31, 2026

For the Three Months Ended

September 30, 2026

Mid-Point (1)

Net loss

(39,517

)

(11,015

)

Adjustments to reconcile net loss to NOI:

Advisory and administrative fees

7,197

1,813

Corporate general and administrative expenses

19,039

4,928

Corporate income

(3,267

)

(978

)

Property general and administrative expenses

(2)

4,009

1,003

Depreciation and amortization

97,423

24,888

Interest expense

71,246

18,285

Casualty-related recoveries

(1,677

)

—

Equity in earnings of affiliate

(333

)

(80

)

NOI

154,120

38,844

Less Non-Same Store

Revenues

(3)

(6,229

)

Operating expenses

(3)

2,175

Same Store NOI

(3)

150,066

(1)

Mid-Point estimates shown for full year and third quarter 2026 guidance. Assumptions made for full year and third quarter 2026 NOI guidance include the Same Store operating growth projections included in the “2026 Full Year Guidance Summary” section of this release and the effect of the dispositions throughout the fiscal year.

(2)

(3)

Amounts are derived from the results of operations of our YTD Same Store properties and Non-Same Store properties. There are 35 properties in our YTD Same Store pool.

NXRT.NEXPOINT.COM

Page 31

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

The following table reconciles our FFO, Core FFO and AFFO guidance to our net loss (the most directly comparable GAAP financial measure) guidance for the year ended December 31, 2026 (in thousands, except per share data):

For the Year Ended

December 31, 2026

Mid-Point

Net loss

(39,517

)

Depreciation and amortization

97,423

Adjustment for noncontrolling interests

(229

)

FFO attributable to common stockholders

57,677

FFO per share - diluted (1)

2.25

Casualty-related recoveries

(1,677

)

Amortization of deferred financing costs

6,585

Mark-to-market adjustments of interest rate caps

Adjustment for noncontrolling interests

(19

)

Core FFO attributable to common stockholders

62,589

Core FFO per share - diluted (1)

2.45

Equity-based compensation expense

10,722

Adjustment for noncontrolling interests

(42

)

AFFO attributable to common stockholders

73,269

AFFO per share - diluted (1)

2.86

Weighted average common shares outstanding - diluted

25,593

(1)

For purposes of calculating per share data, we assume a weighted average diluted share count of approximately 25.6 million for the full year 2026.

NOI

The following table, which has not been adjusted for the effects of noncontrolling interests, reconciles NOI for the three months ended March 31, 2026 and the year ended December 31, 2025 to net loss, the most directly comparable GAAP financial measure (in thousands):

For the Three Months Ended

March 31, 2026

For the Year Ended

December 31, 2025

Net loss

(6,781

)

(32,154

)

Adjustments to reconcile net loss to NOI:

Advisory and administrative fees

1,771

6,941

Corporate general and administrative expenses

4,473

17,945

Corporate income

(590

)

(1,666

)

Casualty-related expenses

(1)

(1,753

)

264

Casualty loss

—

167

Property general and administrative expenses

(2)

851

4,010

Depreciation and amortization

24,291

95,752

Interest expense

15,442

60,735

Equity in earnings of affiliate

(68

)

(257

)

NOI

37,636

151,737

(1)

Adjustment to net loss to exclude certain property operating expenses that are casualty-related expenses.

(2)

NXRT.NEXPOINT.COM

Page 32

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

The following table, reconciles FFO, Core FFO and AFFO for the three months ended March 31, 2026 and the year ended December 31, 2025 to net loss, the most directly comparable GAAP financial measure (in thousands):

For the Three Months Ended

March 31, 2026

For the Year Ended

December 31, 2025

Net loss

(6,781

)

(32,154

)

Depreciation and amortization

24,291

95,752

Adjustment for noncontrolling interests

(69

)

(251

)

FFO attributable to common stockholders

17,441

63,347

FFO per share - basic

0.69

2.49

FFO per share - diluted

0.69

2.48

Casualty-related expenses (recoveries)

(1,753

)

264

Casualty losses

—

167

Amortization of deferred financing costs

1,683

6,585

Mark-to-market adjustments of interest rate caps

(98

)

961

Adjustment for noncontrolling interests

(31

)

Core FFO attributable to common stockholders

17,274

71,293

Core FFO per share - basic

0.68

2.81

Core FFO per share - diluted

0.68

2.79

Equity-based compensation expense

2,362

9,883

Adjustment for noncontrolling interests

)

(39

)

AFFO attributable to common stockholders

19,627

81,137

AFFO per share - basic

0.77

3.20

AFFO per share - diluted

0.77

3.18

Weighted average common shares outstanding - basic

25,398

25,390

Weighted average common shares outstanding - diluted

(1)

25,398

25,554

Dividends declared per common share

0.53

2.06

Net income (loss) Coverage - diluted

(2)

-0.51x

-0.61x

FFO Coverage - diluted

(2)

1.30x

1.20x

Core FFO Coverage - diluted

(2)

1.28x

1.35x

AFFO Coverage - diluted

(2)

1.46x

1.54x

(1)

(2)

Indicates coverage ratio of net loss/FFO/Core FFO/AFFO per common share (diluted) over dividends declared per common share during the period.

NXRT.NEXPOINT.COM

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