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

NexPoint Residential Trust (NYSE:NXRT - Get Free Report) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 2.780-2.780 for the period, compared to the consensus earnings per share estimate of 2.660. The company issued revenue guidance of -.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. JMP Securities upped their price target on shares of NexPoint Residential Trust from $40.00 to $50.00 and gave the stock a "market outperform" rating in a research report on Friday, August 2nd. Raymond James raised NexPoint Residential Trust from a "market perform" rating to an "outperform" rating and set a $50.00 target price for the company in a report on Monday, October 21st. Deutsche Bank Aktiengesellschaft lifted 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. Compass Point increased their price objective on NexPoint Residential Trust from $45.00 to $55.00 and gave the company a "buy" rating in a research note on Wednesday, July 31st. Finally, Truist Financial lifted their target price 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. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $46.83.

NexPoint Residential Trust Stock Performance

NYSE NXRT remained flat at $43.00 on Tuesday. The company's stock had a trading volume of 151,317 shares, compared to its average volume of 140,968. The company has a debt-to-equity ratio of 2.96, a current ratio of 2.00 and a quick ratio of 2.00. The firm has a fifty day simple moving average of $44.68 and a two-hundred day simple moving average of $40.46. The company has a market cap of $1.09 billion, a PE ratio of 12.70, a P/E/G ratio of 1.30 and a beta of 1.37. NexPoint Residential Trust has a one year low of $26.21 and a one year high of $48.37.

NexPoint Residential Trust (NYSE:NXRT - Get Free Report) last announced its quarterly earnings results on Tuesday, July 30th. The financial services provider reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.69 by ($0.29). NexPoint Residential Trust had a net margin of 32.93% and a return on equity of 17.69%. The firm had revenue of $64.24 million for the quarter, compared to analyst estimates of $64.99 million. During the same period in the previous year, the firm posted $0.88 EPS. Equities research analysts forecast that NexPoint Residential Trust will post 2.82 earnings per share for the current year.

NexPoint Residential Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 4.74%. This is an increase from NexPoint Residential Trust's previous quarterly dividend of $0.46. NexPoint Residential Trust's dividend payout ratio (DPR) is currently 54.73%.

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.