NexPoint Residential Trust, Inc. Announces Quarterly Dividend of $0.46 (NYSE:NXRT)

NexPoint Residential Trust, Inc. (NYSE:NXRT) declared a quarterly dividend on Tuesday, July 30th, Zacks reports. Shareholders of record on Friday, September 13th will be given a dividend of 0.462 per share by the financial services provider on Monday, September 30th. This represents a $1.85 dividend on an annualized basis and a yield of 4.22%. The ex-dividend date of this dividend is Friday, September 13th.

NexPoint Residential Trust has increased its dividend by an average of 89.6% per year over the last three years. NexPoint Residential Trust has a payout ratio of -165.2% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect NexPoint Residential Trust to earn $2.54 per share next year, which means the company should continue to be able to cover its $1.85 annual dividend with an expected future payout ratio of 72.8%.

NexPoint Residential Trust Price Performance

NXRT stock opened at $43.78 on Wednesday. The stock has a market cap of $1.12 billion, a PE ratio of 15.47, a price-to-earnings-growth ratio of 1.29 and a beta of 1.35. The stock has a 50-day moving average price of $38.80 and a two-hundred day moving average price of $34.31. NexPoint Residential Trust has a 1 year low of $26.21 and a 1 year high of $43.98. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 2.90.

NexPoint Residential Trust (NYSE:NXRT) last issued its quarterly earnings results on Tuesday, July 30th. The financial services provider reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.69 by ($0.29). The business had revenue of $64.24 million for the quarter, compared to the consensus estimate of $64.99 million. NexPoint Residential Trust had a return on equity of 14.82% and a net margin of 27.02%. During the same period in the prior year, the business earned $0.88 earnings per share. Equities analysts forecast that NexPoint Residential Trust will post 2.86 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on NXRT. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $38.00 price target on shares of NexPoint Residential Trust in a research report on Tuesday, June 11th. Compass Point increased their price target on shares of NexPoint Residential Trust from $45.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday. Raymond James upgraded shares of NexPoint Residential Trust from an “underperform” rating to a “market perform” rating in a research note on Friday, May 24th. Finally, Truist Financial raised their target price on shares of NexPoint Residential Trust from $34.00 to $37.00 and gave the company a “hold” rating in a research note on Monday, June 24th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, NexPoint Residential Trust has a consensus rating of “Hold” and an average target price of $41.20.

Insider Transactions at NexPoint Residential Trust

In other NexPoint Residential Trust news, insider Brian Mitts sold 2,000 shares of the stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $39.40, for a total value of $78,800.00. Following the transaction, the insider now directly owns 65,696 shares of the company’s stock, valued at approximately $2,588,422.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 12.96% of the stock is currently owned by corporate insiders.

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.