NexPoint Residential Trust (NYSE:NXRT – Get Free Report) released its earnings results on Tuesday. The financial services provider reported ($0.45) EPS for the quarter, missing the consensus estimate of ($0.41) by ($0.04), FiscalAI reports. NexPoint Residential Trust had a negative return on equity of 11.75% and a negative net margin of 13.22%. The company had revenue of $64.47 million during the quarter, compared to analysts’ expectations of $64.72 million.
NexPoint Residential Trust Stock Down 8.4%
Shares of NXRT traded down $1.51 during midday trading on Tuesday, reaching $16.53. 652,634 shares of the stock were exchanged, compared to its average volume of 330,831. NexPoint Residential Trust has a 52 week low of $16.23 and a 52 week high of $32.36. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 6.41. The company’s 50 day moving average is $20.65 and its two-hundred day moving average is $25.87. The company has a market capitalization of $422.34 million, a P/E ratio of -12.36, a PEG ratio of 0.31 and a beta of 1.18.
NexPoint Residential Trust Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Tuesday, December 15th will be issued a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 12.8%. The ex-dividend date is Tuesday, December 15th. NexPoint Residential Trust’s dividend payout ratio is currently -159.40%.
Analyst Upgrades and Downgrades
A number of research analysts recently commented on the stock. Truist Financial lowered their price target on shares of NexPoint Residential Trust from $26.00 to $18.00 and set a “hold” rating for the company in a report on Tuesday, September 29th. Deutsche Bank Aktiengesellschaft set a $23.00 price objective on NexPoint Residential Trust in a research note on Wednesday, September 9th. Citigroup restated a “market perform” rating on shares of NexPoint Residential Trust in a research report on Thursday, August 20th. Weiss Ratings raised NexPoint Residential Trust from a “sell (d)” rating to a “sell (d+)” rating in a research note on Tuesday, October 27th. Finally, Citizens Jmp reiterated a “market perform” rating on shares of NexPoint Residential Trust in a report on Thursday, August 20th. Three equities research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $20.50.
Get Our Latest Stock Report on NexPoint Residential Trust
Insider Buying and Selling at NexPoint Residential Trust
In other NexPoint Residential Trust news, insider Matt Mcgraner acquired 5,500 shares of the stock in a transaction that occurred on Monday, October 5th. The stock was bought at an average cost of $18.42 per share, with a total value of $101,310.00. Following the completion of the purchase, the insider directly owned 361,605 shares in the company, valued at $6,660,764.10. The trade was a 1.54% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 16.63% of the stock is owned by insiders.
NexPoint Residential Trust Company Profile
NexPoint Residential Trust, Inc (NYSE: NXRT) is a publicly traded real estate investment trust focused on acquiring, owning, operating and selectively renovating multifamily apartment communities. The company generally targets value-add properties, seeking to improve their operating performance and resident appeal through renovations, property management initiatives and other capital improvements.
NexPoint Residential Trust’s portfolio is concentrated primarily in the Southeastern and Southwestern United States.
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