$36.12 Million in Sales Expected for NexPoint Residential Trust Inc (NXRT) This Quarter

Wall Street brokerages expect that NexPoint Residential Trust Inc (NYSE:NXRT) will post sales of $36.12 million for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for NexPoint Residential Trust’s earnings, with the highest sales estimate coming in at $36.89 million and the lowest estimate coming in at $35.34 million. NexPoint Residential Trust reported sales of $36.99 million during the same quarter last year, which indicates a negative year over year growth rate of 2.4%. The business is expected to issue its next quarterly earnings results on Tuesday, May 1st.

According to Zacks, analysts expect that NexPoint Residential Trust will report full year sales of $36.12 million for the current year, with estimates ranging from $144.00 million to $147.91 million. For the next fiscal year, analysts anticipate that the business will report sales of $152.44 million per share, with estimates ranging from $151.12 million to $153.77 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover NexPoint Residential Trust.

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NexPoint Residential Trust (NYSE:NXRT) last issued its earnings results on Tuesday, February 13th. The financial services provider reported $0.40 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.02. The firm had revenue of $34.90 million for the quarter, compared to analysts’ expectations of $36.28 million. NexPoint Residential Trust had a net margin of 37.00% and a return on equity of 23.02%. The firm’s revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.39 earnings per share.

Several analysts recently weighed in on NXRT shares. ValuEngine cut shares of NexPoint Residential Trust from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Zacks Investment Research cut shares of NexPoint Residential Trust from a “buy” rating to a “hold” rating in a report on Saturday, February 17th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $27.50.

Shares of NexPoint Residential Trust (NXRT) traded up $0.61 during trading hours on Wednesday, reaching $25.29. 59,017 shares of the company traded hands, compared to its average volume of 82,858. The firm has a market capitalization of $545.75 and a PE ratio of 10.20. NexPoint Residential Trust has a 52-week low of $22.28 and a 52-week high of $29.40. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 3.28.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Shareholders of record on Tuesday, March 20th will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, March 19th. This represents a $1.00 dividend on an annualized basis and a yield of 3.95%. NexPoint Residential Trust’s payout ratio is currently 40.32%.

In related news, insider James D. Dondero acquired 24,788 shares of the business’s stock in a transaction on Monday, January 22nd. The shares were bought at an average price of $27.23 per share, with a total value of $674,977.24. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider James D. Dondero acquired 10,000 shares of the business’s stock in a transaction on Monday, December 18th. The shares were bought at an average cost of $28.50 per share, for a total transaction of $285,000.00. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 86,553 shares of company stock worth $2,360,392. 19.00% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in NXRT. Highland Capital Management LP raised its holdings in NexPoint Residential Trust by 27.6% during the fourth quarter. Highland Capital Management LP now owns 2,215,475 shares of the financial services provider’s stock worth $57,174,000 after purchasing an additional 478,850 shares in the last quarter. Millennium Management LLC raised its holdings in NexPoint Residential Trust by 404.7% during the fourth quarter. Millennium Management LLC now owns 477,383 shares of the financial services provider’s stock worth $13,338,000 after purchasing an additional 382,804 shares in the last quarter. Boston Partners raised its holdings in NexPoint Residential Trust by 89.0% during the third quarter. Boston Partners now owns 275,200 shares of the financial services provider’s stock worth $6,530,000 after purchasing an additional 129,600 shares in the last quarter. Renaissance Technologies LLC raised its holdings in NexPoint Residential Trust by 13.7% during the fourth quarter. Renaissance Technologies LLC now owns 961,300 shares of the financial services provider’s stock worth $26,859,000 after purchasing an additional 115,600 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in NexPoint Residential Trust by 109.3% during the third quarter. Russell Investments Group Ltd. now owns 220,919 shares of the financial services provider’s stock worth $5,242,000 after purchasing an additional 115,368 shares in the last quarter. 59.13% of the stock is currently owned by institutional investors.

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NexPoint Residential Trust Company Profile

NexPoint Residential Trust, Inc is an externally managed real estate investment trust (REIT). The Company’s investment objectives are to maximize the cash flow and value of properties owned, acquire properties with cash flow growth potential, provide quarterly cash distributions and achieve long-term capital appreciation for its stockholders through targeted management and a value-add program.

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Earnings History and Estimates for NexPoint Residential Trust (NYSE:NXRT)

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