NexPoint Residential Trust (NYSE:NXRT) Issues Quarterly Earnings Results

Key Points

• NexPoint Residential Trust missed quarterly expectations: It reported a loss of $0.45 per share versus the expected $0.41 loss, while revenue of $64.47 million was slightly below the $64.72 million estimate.
• Shares declined sharply: NXRT fell $1.47 to $16.57, near its 12-month low of $16.23. The stock has a consensus “Reduce” rating and a $20.50 analyst price target.
• The company maintained a high-yield dividend: NexPoint declared a quarterly dividend of $0.53 per share, or $2.12 annually, representing a 12.8% yield despite its negative payout ratio.

NexPoint Residential Trust (NYSE:NXRT - Get Free Report) posted its quarterly earnings data on Tuesday. The financial services provider reported ($0.45) EPS for the quarter, missing analysts' consensus estimates 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 business had revenue of $64.47 million for the quarter, compared to analyst estimates of $64.72 million.

NexPoint Residential Trust Price Performance

NexPoint Residential Trust stock traded down $1.47 during trading hours on Tuesday, reaching $16.57. 552,148 shares of the stock were exchanged, compared to its average volume of 330,420. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 6.41. NexPoint Residential Trust has a twelve month low of $16.23 and a twelve month high of $32.36. The company has a market cap of $423.49 million, a P/E ratio of -12.47, a price-to-earnings-growth ratio of 0.31 and a beta of 1.18. The stock has a 50 day moving average of $20.65 and a two-hundred day moving average of $25.87.

NexPoint Residential Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Tuesday, December 15th will be paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 12.8%. The ex-dividend date is Tuesday, December 15th. NexPoint Residential Trust's dividend payout ratio is presently -159.40%.

Insider Activity at NexPoint Residential Trust

In other news, insider Matt Mcgraner purchased 5,500 shares of the business's stock in a transaction dated Monday, October 5th. The stock was bought at an average price of $18.42 per share, with a total value of $101,310.00. Following the acquisition, the insider owned 361,605 shares in the company, valued at approximately $6,660,764.10. The trade was a 1.54% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 16.63% of the company's stock.

Wall Street Analyst Weigh In

NXRT has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft set a $23.00 target price on NexPoint Residential Trust in a research report on Wednesday, September 9th. Zacks Research cut NexPoint Residential Trust from a "hold" rating to a "strong sell" rating in a research report on Tuesday, October 13th. Citizens Jmp reissued a "market perform" rating on shares of NexPoint Residential Trust in a research report on Thursday, August 20th. Citigroup restated a "market perform" rating on shares of NexPoint Residential Trust in a research note on Thursday, August 20th. Finally, Weiss Ratings raised NexPoint Residential Trust from a "sell (d)" rating to a "sell (d+)" rating in a research report on Tuesday, October 27th. Three investment analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat, NexPoint Residential Trust has a consensus rating of "Reduce" and a consensus target price of $20.50.

About NexPoint Residential Trust

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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