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. Shareholders of record on Friday, December 13th will be paid 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 4.72%. This is a boost from NexPoint Residential Trust’s previous quarterly dividend of $0.46.

NexPoint Residential Trust has raised its dividend by an average of 89.6% per year over the last three years. NexPoint Residential Trust has a payout ratio of -198.9% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities 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 Price Performance

Shares of NexPoint Residential Trust stock opened at $43.24 on Tuesday. The company has a debt-to-equity ratio of 2.96, a quick ratio of 2.00 and a current ratio of 2.00. NexPoint Residential Trust has a 52-week low of $26.21 and a 52-week high of $48.37. The company has a fifty day moving average of $44.72 and a 200-day moving average of $40.38. The stock has a market capitalization of $1.10 billion, a price-to-earnings ratio of 12.72, a price-to-earnings-growth ratio of 1.30 and a beta of 1.37.

NexPoint Residential Trust (NYSE:NXRT) last posted 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 for the quarter, compared to analysts’ expectations 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 quarter in the previous year, the company earned $0.88 earnings per share. Equities research analysts expect that NexPoint Residential Trust will post 2.82 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on NXRT shares. JMP Securities increased their target price on NexPoint Residential Trust from $40.00 to $50.00 and gave the company a “market outperform” rating in a report on Friday, August 2nd. Compass Point raised their target price on shares of NexPoint Residential Trust from $45.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft lifted their target price on shares of NexPoint Residential Trust from $38.00 to $44.00 and gave the stock a “hold” rating in a research note on Tuesday, September 10th. 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 research report on Monday, October 21st. Finally, Truist Financial boosted their price objective on shares of NexPoint Residential Trust from $37.00 to $46.00 and gave the company a “hold” rating in a research report on Tuesday, August 27th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, NexPoint Residential Trust has a consensus rating of “Hold” and a consensus price target of $46.83.

About NexPoint Residential Trust

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.