NexPoint Residential Trust, Inc. (NYSE:NXRT) Raises Dividend to $0.51 Per Share

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 given a dividend of 0.51 per share by the financial services provider on Tuesday, December 31st. This represents a $2.04 annualized dividend and a yield of 4.79%. The ex-dividend date 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 payment by an average of 89.6% per year over the last three years. NexPoint Residential Trust has a dividend 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 Trading Down 1.0 %

Shares of NexPoint Residential Trust stock traded down $0.42 on Wednesday, reaching $42.58. 2,840 shares of the company’s stock were exchanged, compared to its average volume of 140,310. The firm’s 50-day moving average is $44.65 and its two-hundred day moving average is $40.53. NexPoint Residential Trust has a 52 week low of $26.21 and a 52 week high of $48.37. The company has a market capitalization of $1.08 billion, a P/E ratio of 12.72, a price-to-earnings-growth ratio of 1.30 and a beta of 1.37. 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 (NYSE:NXRT) last posted its 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). The business had revenue of $64.24 million during 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 quarter in the prior year, the company earned $0.88 EPS. Sell-side analysts predict that NexPoint Residential Trust will post 2.82 EPS for the current fiscal year.

Analyst Ratings Changes

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