NexPoint Residential Trust, Inc. (NXRT) to Issue Quarterly Dividend of $0.46 on September 30th

NexPoint Residential Trust, Inc. (NYSE:NXRT) announced a quarterly dividend on Tuesday, July 30th, Zacks reports. Stockholders of record on Friday, September 13th will be paid 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 dividend yield of 4.23%. The ex-dividend date of this dividend is Friday, September 13th.

NexPoint Residential Trust has raised its dividend payment 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 Trading Down 0.1 %

NYSE:NXRT opened at $43.69 on Thursday. The company has a market cap of $1.12 billion, a PE ratio of 15.44, a price-to-earnings-growth ratio of 1.30 and a beta of 1.35. The company has a current ratio of 2.00, a quick ratio of 2.66 and a debt-to-equity ratio of 2.96. The company has a 50 day simple moving average of $38.95 and a two-hundred day simple moving average of $34.38. NexPoint Residential Trust has a 12 month low of $26.21 and a 12 month high of $44.67.

NexPoint Residential Trust (NYSE:NXRT) last released its quarterly earnings results on Tuesday, July 30th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.29). NexPoint Residential Trust had a net margin of 32.93% and a return on equity of 17.69%. The firm had revenue of $64.24 million for the quarter, compared to the consensus estimate of $64.99 million. During the same quarter in the prior year, the firm earned $0.88 earnings per share. Research analysts forecast that NexPoint Residential Trust will post 2.86 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Brian Mitts sold 2,000 shares of the business’s stock in a transaction that occurred 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 in the company, valued at $2,588,422.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 12.96% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Truist Financial lifted 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. Compass Point increased their price objective on shares of NexPoint Residential Trust from $45.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $38.00 target price on shares of NexPoint Residential Trust in a report on Tuesday, June 11th. Finally, Raymond James raised shares of NexPoint Residential Trust from an “underperform” rating to a “market perform” rating in a research note on Friday, May 24th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, NexPoint Residential Trust currently has a consensus rating of “Hold” and a consensus price target of $41.20.

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.