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

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

Wall Street Analyst Weigh In

A number of research firms have issued reports on NXRT. Compass Point upped their price target on shares of NexPoint Residential Trust from $45.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Raymond James upgraded shares of NexPoint Residential Trust from a “market perform” rating to an “outperform” rating and set a $50.00 price objective for the company in a research note on Monday, October 21st. JMP Securities increased their price objective on shares of NexPoint Residential Trust from $40.00 to $50.00 and gave the company a “market outperform” rating in a research note on Friday, August 2nd. Deutsche Bank Aktiengesellschaft increased their price objective on shares of NexPoint Residential Trust from $38.00 to $44.00 and gave the company a “hold” rating in a research note on Tuesday, September 10th. Finally, Truist Financial increased 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 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’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $46.83.

NexPoint Residential Trust Trading Down 0.6 %

NexPoint Residential Trust stock traded down $0.25 during midday trading on Friday, hitting $41.40. 24,550 shares of the stock were exchanged, compared to its average volume of 140,581. The company has a fifty day simple moving average of $44.56 and a two-hundred day simple moving average of $40.56. NexPoint Residential Trust has a 52 week low of $27.52 and a 52 week high of $48.37. The stock has a market capitalization of $1.05 billion, a PE ratio of 23.80, a P/E/G ratio of 1.28 and a beta of 1.37. The company has a quick ratio of 2.00, a current ratio of 1.79 and a debt-to-equity ratio of 3.25.

NexPoint Residential Trust (NYSE:NXRT) last posted its quarterly earnings data on Tuesday, July 30th. The financial services provider reported $0.40 earnings per share (EPS) 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 net margin of 17.54% and a return on equity of 9.54%. During the same quarter last year, the business earned $0.88 earnings per share. Equities research analysts anticipate that NexPoint Residential Trust will post 2.82 EPS for the current fiscal year.

NexPoint Residential Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors 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 yield of 4.93%. This is an increase from NexPoint Residential Trust’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Friday, December 13th. NexPoint Residential Trust’s payout ratio is presently 116.57%.

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.