NexPoint Residential Trust, Inc. (NYSE:NXRT) Announces Quarterly Dividend of $0.51

NexPoint Residential Trust, Inc. (NYSE:NXRT) declared a quarterly dividend on Tuesday, October 29th, RTT News reports. Investors of record on Friday, December 13th will be given a dividend of 0.51 per share by the financial services provider on Tuesday, December 31st. This represents a $2.04 dividend on an annualized basis and a yield of 4.79%. The ex-dividend date of this dividend is Friday, December 13th. This is an increase from NexPoint Residential Trust’s previous quarterly dividend of $0.46.

NexPoint Residential Trust has raised its dividend by an average of 89.6% annually over the last three years. NexPoint Residential Trust has a dividend payout ratio of -198.9% indicating that 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 $2.85 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 64.9%.

NexPoint Residential Trust Stock Performance

NYSE:NXRT traded down $0.42 during mid-day trading on Wednesday, hitting $42.58. 2,840 shares of the company’s stock traded hands, compared to its average volume of 140,310. The firm has a market capitalization of $1.08 billion, a price-to-earnings ratio of 12.72, a price-to-earnings-growth ratio of 1.30 and a beta of 1.37. The firm has a 50 day moving average of $44.65 and a two-hundred day moving average of $40.53. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 2.96. NexPoint Residential Trust has a 12 month low of $26.21 and a 12 month high of $48.37.

NexPoint Residential Trust (NYSE:NXRT) last announced its quarterly earnings results on Tuesday, July 30th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.29). The business had revenue of $64.24 million during the quarter, compared to the consensus estimate of $64.99 million. NexPoint Residential Trust had a net margin of 32.93% and a return on equity of 17.69%. During the same period last year, the firm earned $0.88 EPS. On average, equities analysts forecast that NexPoint Residential Trust will post 2.82 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on NXRT. Truist Financial upped their price target on shares of NexPoint Residential Trust from $37.00 to $46.00 and gave the stock a “hold” rating in a research report on Tuesday, August 27th. Compass Point upped their target price on shares of NexPoint Residential Trust from $45.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Raymond James raised shares of NexPoint Residential Trust from a “market perform” rating to an “outperform” rating and set a $50.00 price target for the company in a report on Monday, October 21st. JMP Securities upped their price objective on NexPoint Residential Trust from $40.00 to $50.00 and gave the stock a “market outperform” rating in a report on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on NexPoint Residential Trust from $38.00 to $44.00 and gave the company a “hold” rating in a research note on Tuesday, September 10th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $46.83.

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.