February Special Situations Research Forum (Members Only, Limited Space) (Ended)
Topic: NexPoint Residential Trust (NXRT)
Special situations are corporate actions which could reveal an undervalued security and hence an investment opportunity. Some examples of Special Situations are spinoffs, liquidations, tender offers, restructurings, bankruptcy exits etc. In the Special Situations Research Forum we will discuss an investment situation decided 3 weeks in advance. Every participant in the Forum is expected to research the topic before attending the meeting.
NexPoint Residential Trust (NXRT):
NexPoint Residential Trust (NXRT) is a small Class B apartment REIT that was spun-off of NexPoint Credit Strategies (NHF, a closed end fund) in 2015. It is externally managed by an affiliate of Highland Capital which has acquired (not granted) more than 13% of the shares outstanding. The shares trade for a significant discount (~50%) to larger multi-family peers on an P/FFO basis and the recent Landmark Apartment Trust transaction purchased by Starwood Capital Group. The external management agreement features no termination fee and management has been forthcoming that if the shares don't trade in-line with peers over time they will look to sell the company.
This meeting is a collaborative effort so please be sure to research the topic before the meeting and be prepared to contribute to the discussion.
Attendance will be limited to 15 members - first-come, first-served.
Vishal Mishra; Mishra Capital Partners LLC
Nick Redmond; Oculus Asset Management
Members - Free
Attire: Business Casual
Registration: Limited to 15 members
A dial-in option will be available. Phone number and passcode will be distributed the day prior to discussion.
5:30pm - 7:00pm - Discussion
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