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

NexPoint Residential Trust, Inc. (NYSE:NXRT - Get Free Report) announced a quarterly dividend on Tuesday, October 29th, RTT News reports. Stockholders of record on Friday, December 13th will be paid 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 4.74%. This is a boost from NexPoint Residential Trust's previous quarterly dividend of $0.46.

NexPoint Residential Trust has increased its dividend 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. 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 Price Performance

Shares of NXRT remained flat at $43.00 during midday trading on Tuesday. 151,312 shares of the stock were exchanged, compared to its average volume of 140,968. NexPoint Residential Trust has a fifty-two week low of $26.21 and a fifty-two week high of $48.37. The business has a fifty day moving average price of $44.68 and a two-hundred day moving average price of $40.46. The firm has a market capitalization of $1.09 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 - Get Free Report) last announced 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 firm had revenue of $64.24 million during the quarter, compared to analyst estimates of $64.99 million. NexPoint Residential Trust had a net margin of 32.93% and a return on equity of 17.69%. During the same quarter in the previous year, the business posted $0.88 earnings per share. On average, sell-side analysts forecast that NexPoint Residential Trust will post 2.82 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. JMP Securities increased their target price on shares of 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. Truist Financial increased their target price 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. Deutsche Bank Aktiengesellschaft increased their target price on shares of NexPoint Residential Trust from $38.00 to $44.00 and gave the company a "hold" rating in a research report on Tuesday, September 10th. Raymond James raised shares of NexPoint Residential Trust from a "market perform" rating to an "outperform" rating and set a $50.00 price objective on the stock in a research report on Monday, October 21st. Finally, Compass Point raised their price objective on shares of NexPoint Residential Trust from $45.00 to $55.00 and gave the stock a "buy" rating in a research 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 company. Based on data from MarketBeat.com, NexPoint Residential Trust currently has an average rating of "Hold" and an average price target of $46.83.

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.