NexPoint Residential Trust, Inc. to Issue 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 annualized dividend and a yield of 4.22%. The ex-dividend date is Friday, September 13th.

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 -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. 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

Shares of NYSE NXRT opened at $43.78 on Wednesday. The stock’s 50-day simple moving average is $38.80 and its 200-day simple moving average is $34.31. The firm has a market capitalization 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. NexPoint Residential Trust has a fifty-two week low of $26.21 and a fifty-two week high of $43.98. The company has a debt-to-equity ratio of 2.90, a quick ratio of 2.66 and a current ratio of 2.66.

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 for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.29). NexPoint Residential Trust had a net margin of 27.02% and a return on equity of 14.82%. The company had revenue of $64.24 million during the quarter, compared to analysts’ expectations of $64.99 million. During the same period last year, the firm earned $0.88 earnings per share. As a group, equities research analysts forecast that NexPoint Residential Trust will post 2.86 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

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

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.