NexPoint Residential Trust Inc (NYSE:NXRT) announced a quarterly dividend on Wednesday, February 20th, Wall Street Journal reports. Shareholders of record on Friday, March 15th will be given a dividend of 0.275 per share by the financial services provider on Friday, March 29th. This represents a $1.10 annualized dividend and a yield of 3.08%. The ex-dividend date of this dividend is Thursday, March 14th.
NexPoint Residential Trust has raised its dividend payment by an average of 18.4% per year over the last three years and has increased its dividend annually for the last 3 consecutive years. NexPoint Residential Trust has a payout ratio of 64.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect NexPoint Residential Trust to earn $2.08 per share next year, which means the company should continue to be able to cover its $1.10 annual dividend with an expected future payout ratio of 52.9%.
NexPoint Residential Trust stock opened at $35.72 on Wednesday. The company has a debt-to-equity ratio of 2.83, a quick ratio of 0.98 and a current ratio of 2.19. The company has a market capitalization of $897.54 million, a price-to-earnings ratio of 19.00, a P/E/G ratio of 1.79 and a beta of 0.59. NexPoint Residential Trust has a 12 month low of $23.75 and a 12 month high of $38.70.
Several brokerages have recently weighed in on NXRT. Boenning Scattergood reaffirmed a “hold” rating on shares of NexPoint Residential Trust in a research note on Wednesday, February 20th. B. Riley upped their target price on NexPoint Residential Trust from $37.00 to $41.00 and gave the stock a “buy” rating in a research note on Wednesday, February 20th. Zacks Investment Research raised NexPoint Residential Trust from a “hold” rating to a “buy” rating and set a $42.00 target price for the company in a research note on Friday, February 8th. Finally, Raymond James began coverage on NexPoint Residential Trust in a research note on Wednesday, February 6th. They set an “outperform” rating and a $41.00 target price for the company. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $38.20.
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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.
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