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

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

NexPoint Residential Trust Trading Down 0.7 %

NexPoint Residential Trust stock traded down $0.30 during mid-day trading on Wednesday, reaching $42.70. 51,036 shares of the company traded hands, compared to its average volume of 140,540. The company has a debt-to-equity ratio of 2.96, a current ratio of 2.00 and a quick ratio of 2.00. The firm’s 50 day moving average price is $44.65 and its 200 day moving average price is $40.53. The firm has a market capitalization of $1.08 billion, a price-to-earnings ratio of 12.72, a P/E/G ratio of 1.30 and a beta of 1.37. NexPoint Residential Trust has a 52-week low of $26.21 and a 52-week high of $48.37.

NexPoint Residential Trust (NYSE:NXRT) last issued 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 company had revenue of $64.24 million for the quarter, compared to analysts’ expectations of $64.99 million. NexPoint Residential Trust had a net margin of 32.93% and a return on equity of 17.69%. During the same period in the previous year, the firm posted $0.88 earnings per share. On average, analysts anticipate that NexPoint Residential Trust will post 2.82 earnings per share for the current fiscal year.

NexPoint Residential Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 4.78%. 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 dividend payout ratio is 54.73%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on NXRT. JMP Securities raised their price objective on shares of NexPoint Residential Trust from $40.00 to $50.00 and gave the stock a “market outperform” rating in a report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft raised their target price on shares of NexPoint Residential Trust from $38.00 to $44.00 and gave the stock a “hold” rating in a research note on Tuesday, September 10th. Truist Financial raised their target price on shares of NexPoint Residential Trust from $37.00 to $46.00 and gave the stock a “hold” rating in a research note on Tuesday, August 27th. Raymond James upgraded shares of NexPoint Residential Trust from a “market perform” rating to an “outperform” rating and set a $50.00 price objective on the stock in a research report on Monday, October 21st. Finally, Compass Point lifted their price objective on shares of NexPoint Residential Trust from $45.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $46.83.

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.