Wall Street analysts forecast that NexPoint Residential Trust Inc (NYSE:NXRT) will post $43.78 million in sales for the current quarter, according to Zacks. Four analysts have provided estimates for NexPoint Residential Trust’s earnings, with the lowest sales estimate coming in at $42.80 million and the highest estimate coming in at $44.54 million. NexPoint Residential Trust reported sales of $36.50 million in the same quarter last year, which would suggest a positive year over year growth rate of 19.9%. The business is expected to report its next earnings report on Tuesday, October 29th.
According to Zacks, analysts expect that NexPoint Residential Trust will report full-year sales of $172.06 million for the current financial year, with estimates ranging from $171.10 million to $173.03 million. For the next financial year, analysts expect that the business will post sales of $182.51 million, with estimates ranging from $176.09 million to $187.24 million. Zacks’ sales averages are an average based on a survey of analysts that follow NexPoint Residential Trust.
NexPoint Residential Trust (NYSE:NXRT) last issued its quarterly earnings data on Tuesday, July 30th. The financial services provider reported ($0.08) EPS for the quarter, missing the Zacks’ consensus estimate of $0.46 by ($0.54). NexPoint Residential Trust had a negative net margin of 10.21% and a negative return on equity of 6.07%. The business had revenue of $43.07 million during the quarter, compared to analyst estimates of $43.05 million.
Several equities analysts have recently issued reports on the stock. Raymond James boosted their price target on shares of NexPoint Residential Trust to $51.00 and gave the company a “strong-buy” rating in a report on Monday, August 19th. LADENBURG THALM/SH SH boosted their price target on shares of NexPoint Residential Trust from $41.50 to $44.00 and gave the company a “buy” rating in a report on Friday, May 31st. Compass Point raised shares of NexPoint Residential Trust from a “neutral” rating to a “buy” rating and set a $46.50 price objective for the company in a report on Wednesday, July 31st. Finally, Zacks Investment Research downgraded shares of NexPoint Residential Trust from a “buy” rating to a “hold” rating in a report on Friday, August 23rd. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $44.92.
In related news, insider James D. Dondero acquired 500,000 shares of NexPoint Residential Trust stock in a transaction that occurred on Tuesday, July 23rd. The stock was acquired at an average price of $41.19 per share, with a total value of $20,595,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 21.49% of the company’s stock.
A number of hedge funds have recently bought and sold shares of NXRT. Vanguard Group Inc. raised its position in NexPoint Residential Trust by 8.4% in the second quarter. Vanguard Group Inc. now owns 2,128,887 shares of the financial services provider’s stock worth $88,136,000 after acquiring an additional 164,252 shares in the last quarter. BlackRock Inc. raised its position in NexPoint Residential Trust by 3.6% in the second quarter. BlackRock Inc. now owns 1,530,978 shares of the financial services provider’s stock worth $63,382,000 after acquiring an additional 53,306 shares in the last quarter. Rothschild & Co. Asset Management US Inc. raised its position in NexPoint Residential Trust by 148.0% in the second quarter. Rothschild & Co. Asset Management US Inc. now owns 315,211 shares of the financial services provider’s stock worth $13,050,000 after acquiring an additional 188,121 shares in the last quarter. Penn Capital Management Co. Inc. bought a new stake in NexPoint Residential Trust in the second quarter worth about $10,862,000. Finally, Northern Trust Corp raised its position in NexPoint Residential Trust by 4.0% in the second quarter. Northern Trust Corp now owns 258,753 shares of the financial services provider’s stock worth $10,712,000 after acquiring an additional 9,871 shares in the last quarter. 66.22% of the stock is owned by institutional investors and hedge funds.
Shares of NXRT opened at $45.96 on Tuesday. NexPoint Residential Trust has a 1 year low of $31.40 and a 1 year high of $47.42. The company has a market cap of $1.13 billion, a price-to-earnings ratio of 24.45, a price-to-earnings-growth ratio of 2.46 and a beta of 0.39. The company has a debt-to-equity ratio of 3.60, a quick ratio of 2.12 and a current ratio of 2.12. The firm has a fifty day moving average of $44.49 and a 200-day moving average of $40.25.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be issued a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 2.39%. The ex-dividend date is Thursday, September 12th. NexPoint Residential Trust’s payout ratio is currently 58.51%.
NexPoint Residential Trust Company Profile
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.
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