NexPoint Residential Trust, Inc. (NXRT) To Go Ex-Dividend on June 16th

NexPoint Residential Trust, Inc. (NYSE:NXRT) announced a quarterly dividend on Tuesday, April 29th, RTT News reports. Shareholders of record on Monday, June 16th will be paid a dividend of 0.51 per share by the financial services provider on Monday, June 30th. This represents a $2.04 annualized dividend and a yield of 6.02%. The ex-dividend date of this dividend is Monday, June 16th.

NexPoint Residential Trust has a payout ratio of -175.9% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect NexPoint Residential Trust to earn $2.78 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 73.4%.

NexPoint Residential Trust Stock Performance

Shares of NXRT stock opened at $33.90 on Friday. The company has a debt-to-equity ratio of 3.25, a quick ratio of 1.79 and a current ratio of 1.79. NexPoint Residential Trust has a fifty-two week low of $30.98 and a fifty-two week high of $48.37. The stock has a 50 day moving average price of $35.56 and a two-hundred day moving average price of $38.94. The company has a market capitalization of $857.09 million, a P/E ratio of 19.37, a PEG ratio of 2.34 and a beta of 1.08.

NexPoint Residential Trust (NYSE:NXRT) last announced its quarterly earnings data on Tuesday, April 29th. The financial services provider reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.06. NexPoint Residential Trust had a return on equity of 9.54% and a net margin of 17.54%. The firm had revenue of $63.22 million during the quarter, compared to the consensus estimate of $63.29 million. Analysts expect that NexPoint Residential Trust will post 2.86 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on NXRT shares. Raymond James cut NexPoint Residential Trust from an “outperform” rating to a “market perform” rating in a research note on Thursday, May 15th. Truist Financial reduced their target price on NexPoint Residential Trust from $42.00 to $38.00 and set a “hold” rating on the stock in a research note on Thursday, May 29th. Jefferies Financial Group boosted their target price on NexPoint Residential Trust from $41.00 to $43.00 and gave the company a “hold” rating in a research note on Monday, March 10th. Wall Street Zen cut NexPoint Residential Trust from a “hold” rating to a “sell” rating in a research note on Saturday, March 1st. Finally, Citizens Jmp cut NexPoint Residential Trust from an “outperform” rating to a “market perform” rating in a research note on Monday, May 19th. One investment analyst has rated the stock with a sell rating and seven have given a hold rating to the company. Based on data from MarketBeat.com, NexPoint Residential Trust has an average rating of “Hold” and a consensus price target of $43.58.

Insider Buying and Selling

In other news, insider Paul Richards purchased 1,000 shares of NexPoint Residential Trust stock in a transaction that occurred on Friday, May 23rd. The shares were bought at an average cost of $33.18 per share, with a total value of $33,180.00. Following the completion of the purchase, the insider now directly owns 19,869 shares in the company, valued at approximately $659,253.42. This trade represents a 5.30% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 15.36% of the stock is owned by insiders.

Institutional Investors Weigh In On NexPoint Residential Trust

Several hedge funds have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of NexPoint Residential Trust by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,281 shares of the financial services provider’s stock valued at $525,000 after acquiring an additional 573 shares in the last quarter. Royal Bank of Canada increased its holdings in shares of NexPoint Residential Trust by 5.7% during the first quarter. Royal Bank of Canada now owns 54,612 shares of the financial services provider’s stock valued at $2,159,000 after acquiring an additional 2,942 shares in the last quarter. Strs Ohio bought a new position in shares of NexPoint Residential Trust during the first quarter valued at $158,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of NexPoint Residential Trust by 5.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 132,034 shares of the financial services provider’s stock valued at $5,219,000 after acquiring an additional 7,217 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. bought a new position in shares of NexPoint Residential Trust during the first quarter valued at $341,000. 76.61% of the stock is owned by institutional investors.

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.