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

NexPoint Residential Trust, Inc. (NYSE:NXRT) declared a quarterly dividend on Tuesday, October 29th,RTT News reports. Stockholders 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 dividend on an annualized basis and a dividend yield of 4.46%. The ex-dividend date of this dividend is Friday, December 13th. This is a boost 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 payout ratio of -217.0% 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 $2.85 per share next year, which means the company should continue to be able to cover its $2.04 annual dividend with an expected future payout ratio of 71.6%.

NexPoint Residential Trust Stock Performance

Shares of NexPoint Residential Trust stock opened at $45.70 on Wednesday. The firm has a market capitalization of $1.16 billion, a P/E ratio of 26.11, a P/E/G ratio of 2.77 and a beta of 1.40. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 3.25. NexPoint Residential Trust has a 52 week low of $28.20 and a 52 week high of $48.37. The firm’s 50 day moving average is $44.61 and its two-hundred day moving average is $42.87.

NexPoint Residential Trust (NYSE:NXRT) last announced its quarterly earnings results on Tuesday, October 29th. The financial services provider reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($1.01). The company had revenue of $64.10 million during the quarter, compared to analysts’ expectations of $64.69 million. NexPoint Residential Trust had a net margin of 17.54% and a return on equity of 9.54%. During the same period last year, the firm earned $0.76 earnings per share. Research analysts forecast that NexPoint Residential Trust will post 2.78 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently commented on NXRT. Raymond James upgraded shares of NexPoint Residential Trust from a “market perform” rating to an “outperform” rating and set a $50.00 price target for the company in a research report on Monday, October 21st. StockNews.com cut NexPoint Residential Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft upped their price target on NexPoint Residential Trust from $38.00 to $44.00 and gave the stock a “hold” rating in a research note on Tuesday, September 10th. Finally, Truist Financial lifted their price objective on shares of NexPoint Residential Trust from $37.00 to $46.00 and gave the company a “hold” rating in a research report on Tuesday, August 27th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, NexPoint Residential Trust currently has an average rating of “Hold” and a consensus 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.