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

NexPoint Residential Trust (NYSE:NXRT) issued an update on its FY 2024 earnings guidance on Tuesday morning. 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 2.4 %

Shares of NexPoint Residential Trust stock traded down $1.04 on Thursday, hitting $41.65. The stock had a trading volume of 162,938 shares, compared to its average volume of 141,131. The stock has a 50 day moving average of $44.61 and a 200 day moving average of $40.55. NexPoint Residential Trust has a twelve month low of $26.21 and a twelve month high of $48.37. The company has a debt-to-equity ratio of 2.96, a quick ratio of 2.00 and a current ratio of 2.00. The firm has a market capitalization of $1.06 billion, a P/E ratio of 12.64, a PEG ratio of 1.30 and a beta of 1.37.

NexPoint Residential Trust (NYSE:NXRT) last announced its earnings results on Tuesday, July 30th. The financial services provider reported $0.40 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.29). NexPoint Residential Trust had a net margin of 32.93% and a return on equity of 17.69%. The company had revenue of $64.24 million during the quarter, compared to the consensus estimate of $64.99 million. During the same quarter in the previous year, the company earned $0.88 earnings per share. Sell-side analysts expect that NexPoint Residential Trust will post 2.82 earnings per share for the current fiscal year.

NexPoint Residential Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 4.90%. This is a boost 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 presently 54.73%.

Analyst Upgrades and Downgrades

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

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.