Analysts expect NexPoint Residential Trust Inc (NYSE:NXRT) to post sales of $50.76 million for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for NexPoint Residential Trust’s earnings, with estimates ranging from $50.30 million to $51.70 million. NexPoint Residential Trust reported sales of $43.07 million in the same quarter last year, which indicates a positive year-over-year growth rate of 17.9%. The company is scheduled to report its next quarterly earnings report on Tuesday, August 4th.
According to Zacks, analysts expect that NexPoint Residential Trust will report full-year sales of $204.16 million for the current year, with estimates ranging from $199.10 million to $212.00 million. For the next year, analysts expect that the business will post sales of $212.10 million, with estimates ranging from $199.60 million to $228.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover NexPoint Residential Trust.
NexPoint Residential Trust (NYSE:NXRT) last issued its earnings results on Thursday, May 7th. The financial services provider reported $1.08 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.49. NexPoint Residential Trust had a return on equity of 34.85% and a net margin of 68.44%. The business had revenue of $52.60 million for the quarter, compared to analysts’ expectations of $52.97 million.
A number of analysts have issued reports on NXRT shares. Raymond James raised NexPoint Residential Trust from an “outperform” rating to a “strong-buy” rating and set a $37.00 target price on the stock in a research report on Monday, May 18th. Zacks Investment Research lowered NexPoint Residential Trust from a “hold” rating to a “sell” rating in a research report on Friday, May 29th. SunTrust Banks cut their price objective on NexPoint Residential Trust from $39.00 to $30.00 and set a “hold” rating on the stock in a research report on Thursday, April 2nd. Finally, ValuEngine lowered NexPoint Residential Trust from a “hold” rating to a “sell” rating in a research report on Thursday, April 30th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $40.75.
In other news, President James D. Dondero bought 94,500 shares of the stock in a transaction that occurred on Friday, April 3rd. The stock was purchased at an average price of $21.81 per share, for a total transaction of $2,061,045.00. Following the completion of the purchase, the president now owns 149,453 shares in the company, valued at approximately $3,259,569.93. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 11.60% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Arbitrage SA boosted its stake in NexPoint Residential Trust by 159.5% in the first quarter. BNP Paribas Arbitrage SA now owns 7,680 shares of the financial services provider’s stock valued at $194,000 after acquiring an additional 4,720 shares in the last quarter. Parametric Portfolio Associates LLC boosted its stake in NexPoint Residential Trust by 25.4% in the first quarter. Parametric Portfolio Associates LLC now owns 88,053 shares of the financial services provider’s stock valued at $2,220,000 after acquiring an additional 17,815 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in NexPoint Residential Trust by 25.6% in the first quarter. JPMorgan Chase & Co. now owns 84,476 shares of the financial services provider’s stock valued at $2,130,000 after acquiring an additional 17,198 shares in the last quarter. Alliancebernstein L.P. boosted its stake in NexPoint Residential Trust by 45.5% in the first quarter. Alliancebernstein L.P. now owns 97,443 shares of the financial services provider’s stock valued at $2,457,000 after acquiring an additional 30,483 shares in the last quarter. Finally, Voloridge Investment Management LLC acquired a new position in NexPoint Residential Trust in the first quarter valued at $1,221,000. Institutional investors own 80.12% of the company’s stock.
NXRT traded up $0.99 during trading hours on Friday, reaching $35.35. The company’s stock had a trading volume of 275,523 shares, compared to its average volume of 304,820. The stock has a market cap of $840.78 million, a PE ratio of 6.52 and a beta of 1.05. The company has a debt-to-equity ratio of 3.49, a current ratio of 4.61 and a quick ratio of 4.61. NexPoint Residential Trust has a fifty-two week low of $21.06 and a fifty-two week high of $52.87. The business’s 50-day moving average is $33.28 and its 200-day moving average is $38.30.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be paid a dividend of $0.3125 per share. The ex-dividend date of this dividend is Friday, June 12th. This represents a $1.25 dividend on an annualized basis and a dividend yield of 3.54%. NexPoint Residential Trust’s payout ratio is currently 56.82%.
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.
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