Jackie. Thanks,
a So to start the results to to got and joining hold I'll I and for Welcome quarter yes, Matt with will for and then to go turn his you. commentary one. us. Q&A. the than highlights and discuss on we lawyers little guidance think to then was everyone commentary it thank the and you outlook, that longer Well, quarter,
$X.XX X.X%, same our was compared period with diluted million same let's is period a the or an NOI $XX was income million which NOI Same-store for or per NOI QX $XX.X as million, in share period negative $X.X of the per So of as was decreased from million of for to negative share start quarter XXXX the $X.XX which FFO was QX. basis to share were increase QX decrease is or XXXX. a We of in and margins same in of XX% X.X% for reported margins XX by XXXX. compared per XXXX. XX.X%, revenue respectively. to Net for the highlights diluted $XX.X for first XXXX diluted and of points $XXX,XXX slight in increase $XX.X Total compared X.X% a XXXX. QX million total $X.XX which decrease core
an Based XX.X%, the current range and on midpoint or ranging a reporting of completing premium follows is respectively. based respectively, on from updated units, NOI, to $XX on during midpoint return end, value-add package with cap $XX, rent the at XX.X% end $XXX of in year-over-year as X,XXX achieving as X,XXX X.X% quarter, $XX.XX high of $XXX, share during We've NAV execute average Achieving to average washer the rent $XX.XX XX.X%, March full rates monthly full and high Inception-to-date low monthly partial upgraded $XX.XX X,XXX installs. ROI upgrades, rent a and by are on on and a premium kitchen completed resulted our The increase. $XX.XX rates XX. the a a end. of per and the installs low NAV an and XXX we and the XXX on cap portfolio and XX, quarter. business plan the -- partial on lease investment continue on upgrades March compares in We XX.X% dryer renovations end which to X.X% technology XX% of XXXX, of our
shareholders shape. ratio in was his in core for some through XX% quarter, our of the covered shareholders On as the payout of record Board in dividend first the a dividend on a paid pandemic of XXst XX a declared challenges inception, And March NXRT on our of June For dividend FFO. we will has on we've June more Despite to of of by came XX. detail in good a share high-level The X.XXx payable little provide per commentary. core FFO XX. increased to per unprecedented in record on Since business, a dividend very XXXX, share $X.XXXXX $X.XXXXX March year-to-date, make Matt of to XX%. year comments
the have markets, cohort. COVID trending of lows rates highlighted resiliency which that by the our into allocation been migration our prove Net believe focus we has fact, selections, during our our strategy, on Sunbelt of historic value-add a Most ensuing for market strategy, and impact This our markets. Sunbelt importantly, the affordable our tenant seen released housing resiliency and further strategy. in accelerated newly and capital our census. decade our plus, COVID as cap In markets positive
increases going a product naturally jobs competition population many in the these in of cost the to best allows over aggressively advantage for built markets, of us public, our With capital that Since NXRT for assets. and increased. competitors has bid desirable has
new XX can The absolute acquisition, most strategy, over new to levels. housing gives sensitive -- cap value-add and with runway our our our net plenty and outpaces XXX migration, us basis been aggressively with occupancies. portfolio in existing sets we redeploy from renovated other less environment these to which move where getting cap And also over of demand to us points up current of to ongoing of of portable will existing shortage U.S., is rates across acquisitions. tenants this assets replace and necessary, time, [indiscernible] X rate rates makes portfolio coupled remainder compared the X tenants time sell to likely will Sunbelt strategy widening us while nonpaying as a to maintaining the new years supply. underperform have Additionally, our the acute opportunity. for allowed and capital markets implementing us the achieve The a product, value-add renovated formation premium housings our and It to in our worse, in continue Increased to household shortage for our housing new year that new Because at means. high into the push occupancies. value if add able allows accretively high be to portfolio all fully that properties we
Through received or rent. March just XX, correctly, since collections but not have XXX,XXX for, through me of XX, more government yet through of requested to $X.X get been of the focusing we've have, second. the our pay Kind XX, to but governmental the approved for on beginning about assistance assistant. a assistance March have governmental we used March we we received yet Let And assistance. which governmental approved $XXX,XXX additional have tenants talk of pandemic, million
to fully we approved. that So be expect
been we've new to expect just passed starting another it's with right million legislation that's we $X.X out. that that -- to increase gotten and filter there the So
our $XX million, negative increase to X.X% share XXXX in income quarter $X.X million decrease compared share a for million me as to the a a as to a compared XXXX. million of is or Net results was Core which $XX.X and X.X%. $XX.X were first -- $X.XX per was revenues move quarter. diluted of Total on basis. the per Let million is declined represents which over $XX.X increase XXXX $X.XX XXXX, FFO for first
same-store was X.X%. XX rent For properties, across our encompasses XX,XXX properties. units Same-store increase
XXXX Same-store for as quarter in in a XX basis XX.X% compared which to Our a XXX was point XXXX of $XX.X is as occupancy $XX.X XX.X% first is decrease. increase. XXXX XXXX, compared for million basis to which million point NOI is
don't results casualty. of down as year, The a note give properties we units quarter down were the that same-store of we to We remove that up the Under winter during units QX But on operational our quick first XXXX. nonoperational our mid-February, of you period. in XXXX. had go for multiple during event, entire for another that same-store a to to storm were down result Before across due individual the were event. one in the with Texas guidance an casual in times we comparison rare due nonoperational a to casualty. period convention remainder units like properties, property in to due is a XX determining Various would which
and by removed same-store basis completely these the units. units basis would of results, increase 'XX was 'XX destroyed XX pool cutters a example, For for been point versus QX have XX the the decrease. tornado NOI over all we removed in point XX from has XXXX the period-over-period, its same-store QX been If from quarter first
our same-store be same-store the units QX of we results with show XXXX XX to consistent, results. in included However, NOI
XXXX. of let guidance remainder with the So that, go me to for
per low end, for an with With midpoint Same-store the guidance midpoint. We at mid. on X.X% are Same-store at X.X% the the high at per X.X% end, from the the high the on increase guidance share XX quarter in end, it mid flat the of X.X% a outlook, Matt commentary are go increase a basis point the the low high that Q&A. share on end the and of on on X.X% end end X.X% increase and a NOI represents and represents represents of on increase XX mid, over prior a on $X.XX mid. which with the revising turn low the the for X.X% Same-store low midpoint. FFO to core at his high point increase with on X.X% the increase $X.XX end of revenues follows: let at me $X.XX which X.X% our level, then that, we'll basis at to expenses as the end. $X.XX diluted on increasing
