NexPoint Residential Trust (NYSE:NXRT) Posts Quarterly Earnings Results, Misses Estimates By $0.29 EPS

NexPoint Residential Trust (NYSE:NXRT) announced its quarterly earnings data on Tuesday. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.29), Zacks reports. NexPoint Residential Trust had a return on equity of 14.82% and a net margin of 27.02%. The firm had revenue of $64.24 million for the quarter, compared to the consensus estimate of $64.99 million. During the same quarter last year, the business earned $0.88 earnings per share. NexPoint Residential Trust updated its FY 2024 guidance to 2.720-2.720 EPS.

NexPoint Residential Trust Trading Down 0.1 %

NYSE NXRT traded down $0.06 on Wednesday, hitting $43.69. 171,490 shares of the stock were exchanged, compared to its average volume of 149,484. The company’s 50-day moving average price is $38.80 and its two-hundred day moving average price is $34.31. The company has a debt-to-equity ratio of 2.90, a current ratio of 2.66 and a quick ratio of 2.66. NexPoint Residential Trust has a 52-week low of $26.21 and a 52-week high of $44.67. The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of 15.44, a P/E/G ratio of 1.29 and a beta of 1.35.

NexPoint Residential Trust Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be given a $0.462 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.85 annualized dividend and a dividend yield of 4.23%. NexPoint Residential Trust’s dividend payout ratio (DPR) is presently 65.37%.

Insider Activity

In related news, insider Brian Mitts sold 2,000 shares of the stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $39.40, for a total value of $78,800.00. Following the completion of the sale, the insider now directly owns 65,696 shares of the company’s stock, valued at approximately $2,588,422.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 12.96% of the company’s stock.

Wall Street Analyst Weigh In

NXRT has been the topic of a number of recent research reports. Truist Financial raised their price target on shares of NexPoint Residential Trust from $34.00 to $37.00 and gave the stock a “hold” rating in a research report on Monday, June 24th. Compass Point upped their target price on NexPoint Residential Trust from $45.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday. Raymond James upgraded NexPoint Residential Trust from an “underperform” rating to a “market perform” rating in a research report on Friday, May 24th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $38.00 target price on shares of NexPoint Residential Trust in a research report on Tuesday, June 11th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $41.20.

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.