NexPoint Residential Trust (NYSE:NXRT) Updates FY 2024 Earnings Guidance

NexPoint Residential Trust (NYSE:NXRT) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 2.720-2.720 for the period, compared to the consensus earnings per share estimate of 2.690. The company issued revenue guidance of -.

Wall Street Analyst Weigh In

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

NexPoint Residential Trust Stock Up 1.5 %

NXRT stock traded up $0.67 during midday trading on Friday, reaching $45.02. 9,674 shares of the company were exchanged, compared to its average volume of 148,331. The company has a debt-to-equity ratio of 2.96, a quick ratio of 2.66 and a current ratio of 2.00. NexPoint Residential Trust has a 1-year low of $26.21 and a 1-year high of $45.31. The stock’s 50-day simple moving average is $39.12 and its 200 day simple moving average is $34.45. The company has a market cap of $1.16 billion, a price-to-earnings ratio of 15.69, a price-to-earnings-growth ratio of 1.29 and a beta of 1.35.

NexPoint Residential Trust (NYSE:NXRT) last released its quarterly earnings data 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). The company had revenue of $64.24 million for the quarter, compared to analyst estimates of $64.99 million. NexPoint Residential Trust had a return on equity of 17.69% and a net margin of 32.93%. During the same period in the previous year, the business posted $0.88 EPS. On average, equities analysts forecast that NexPoint Residential Trust will post 2.86 earnings per share for the current year.

NexPoint Residential Trust Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be paid a dividend of $0.462 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 4.10%. The ex-dividend date is Friday, September 13th. NexPoint Residential Trust’s dividend payout ratio is currently 65.37%.

Insider Activity at NexPoint Residential Trust

In other NexPoint Residential Trust news, insider Brian Mitts sold 2,000 shares of NexPoint Residential Trust stock in a transaction on Friday, June 28th. The shares were sold at an average price of $39.40, for a total value of $78,800.00. Following the completion of the transaction, 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 accessible through the SEC website. 12.96% of the stock is currently owned by 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.