CFA Society Chicago Events

Event Detail

February Special Situations Research Forum (Members Only, Limited Space) (Ended)


Topic: NexPoint Residential Trust (NXRT)

Date, Time, and Location:
Monday, February 22, 2016 (add this event to your Outlook Calendar)
5:30 pm - 7:00 pm
190 S. LaSalle Street, 10th Floor, Chicago, IL  60603   (Driving Directions)

Program Description:
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.

Facilitator:
Vishal Mishra; Mishra Capital Partners LLC
Nick Redmond; Oculus Asset Management

Fee:
Members - Free

Attire: Business Casual

Registration: Limited to 15 members
Online Only
A dial-in option will be available. Phone number and passcode will be distributed the day prior to discussion.

Agenda:
5:30pm - 7:00pm - Discussion

Content shared during CFA Society Chicago programs is not, and nothing in it should be construed as, an offer, invitation or recommendation of any specific financial services company or professional, or an offer, invitation or recommendation to sell, or a solicitation of an offer to buy, any securities in any jurisdiction. By registering for and attending this event, you acknowledge that any photographs that may be taken are the property of CFA Society Chicago and give your consent to their use in CFA Society Chicago's online and print business communications and marketing.