DALLAS, Oct. 16, 2019 /PRNewswire/ -- NexPoint Residential Trust, Inc. ("NXRT" or "the Company") (NXRT) released information regarding the voluntary Chapter 11 bankruptcy filing from Highland Capital Management, L.P. ("HCMLP").
HCMLP directly holds an immaterial amount of NXRT, totaling approximately 3.95% of market cap or less than one million shares. The other NXRT shares that are reported as owned by officers, directors and other affiliates are not subject to the HCMLP bankruptcy filing.
The Company does not expect any shares held by HCMLP to be sold for months to come, if at all, as a result of HCMLP's filing.
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.
Cautionary Notice Regarding Forward-Looking Statements
This press 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," "intend" and similar expressions, and variations or negatives of these words. These forward-looking statements include, but are not limited to, statements regarding expected sales of shares, if at all. Forward-looking statements 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. Readers should not place undue reliance on any forward-looking statements and are encouraged to review the Company's Annual Report on Form 10-K for the year ended December 31, 2018 and the Company's other filings with the Securities and Exchange Commission for a more complete discussion of the risks and other factors that could affect any forward-looking statement. Except as required by law, the Company does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, changing circumstances or any other reason after the date of this press release