NexPoint Residential Trust, Inc. to Issue Quarterly Dividend of $0.51 (NYSE:NXRT)

Key Points

• NexPoint Residential Trust, Inc. announced a quarterly dividend of $0.51, representing an annualized dividend of $2.04 with a yield of 6.18%. Shareholders will receive this dividend on September 30th, if they are on record by September 15th.
• The company currently has a payout ratio of -175.9%, indicating it cannot cover the dividend with earnings alone, but projections suggest a future payout ratio of 73.4% should allow it to sustain the dividend.
• NexPoint Residential Trust's share price was reported at $33.01, with a market capitalization of approximately $834.49 million and a price-to-earnings ratio of -25.79, alongside a 52-week price range between $30.98 and $48.37.

NexPoint Residential Trust, Inc. (NYSE:NXRT - Get Free Report) announced a quarterly dividend on Tuesday, July 29th, RTT News reports. Investors of record on Monday, September 15th will be paid a dividend of 0.51 per share by the financial services provider on Tuesday, September 30th. This represents a $2.04 dividend on an annualized basis and a yield of 6.17%. The ex-dividend date of this dividend is Monday, September 15th.

NexPoint Residential Trust has a dividend payout ratio of -175.9% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect NexPoint Residential Trust to earn $2.78 per share next year, which means the company should continue to be able to cover its $2.04 annual dividend with an expected future payout ratio of 73.4%.

NexPoint Residential Trust Price Performance

NYSE NXRT traded down $0.41 on Wednesday, reaching $33.04. 309,135 shares of the company's stock traded hands, compared to its average volume of 143,945. NexPoint Residential Trust has a 12 month low of $30.98 and a 12 month high of $48.37. The company has a debt-to-equity ratio of 4.22, a current ratio of 1.89 and a quick ratio of 2.65. The stock has a 50-day simple moving average of $33.85 and a 200 day simple moving average of $36.76. The stock has a market cap of $835.25 million, a PE ratio of -16.86, a P/E/G ratio of 1.98 and a beta of 1.06.

NexPoint Residential Trust (NYSE:NXRT - Get Free Report) last released its earnings results on Tuesday, July 29th. The financial services provider reported $0.80 EPS for the quarter, missing analysts' consensus estimates of $0.81 by ($0.01). The firm had revenue of $63.10 million during the quarter, compared to analysts' expectations of $63.32 million. NexPoint Residential Trust had a negative net margin of 19.55% and a negative return on equity of 12.54%. As a group, research analysts predict that NexPoint Residential Trust will post 2.86 earnings per share for the current year.

Insider Buying and Selling at NexPoint Residential Trust

In other NexPoint Residential Trust news, insider Paul Richards bought 5,000 shares of the firm's stock in a transaction dated Wednesday, June 25th. The stock was acquired at an average price of $32.92 per share, for a total transaction of $164,600.00. Following the completion of the purchase, the insider owned 24,689 shares of the company's stock, valued at approximately $812,761.88. This represents a 25.39% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 15.36% of the company's stock.

Institutional Investors Weigh In On NexPoint Residential Trust

Hedge funds have recently made changes to their positions in the business. Millennium Management LLC lifted its position in NexPoint Residential Trust by 15.6% in the first quarter. Millennium Management LLC now owns 328,683 shares of the financial services provider's stock valued at $12,993,000 after purchasing an additional 44,391 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in NexPoint Residential Trust by 5.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 132,034 shares of the financial services provider's stock valued at $5,219,000 after buying an additional 7,217 shares in the last quarter. Jane Street Group LLC purchased a new position in NexPoint Residential Trust in the first quarter valued at about $3,410,000. Royal Bank of Canada increased its holdings in NexPoint Residential Trust by 5.7% in the first quarter. Royal Bank of Canada now owns 54,612 shares of the financial services provider's stock valued at $2,159,000 after buying an additional 2,942 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in NexPoint Residential Trust by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,281 shares of the financial services provider's stock valued at $525,000 after buying an additional 573 shares in the last quarter. Institutional investors and hedge funds own 76.61% of the company's stock.

Analyst Ratings Changes

NXRT has been the topic of several research analyst reports. JMP Securities restated a "market perform" rating on shares of NexPoint Residential Trust in a research report on Monday, May 19th. Citizens Jmp cut NexPoint Residential Trust from an "outperform" rating to a "market perform" rating in a research note on Monday, May 19th. Compass Point restated a "neutral" rating and set a $42.50 target price (down previously from $50.00) on shares of NexPoint Residential Trust in a report on Tuesday, May 13th. Raymond James Financial lowered NexPoint Residential Trust from an "outperform" rating to a "market perform" rating in a research note on Thursday, May 15th. Finally, Truist Financial lowered their price objective on NexPoint Residential Trust from $42.00 to $38.00 and set a "hold" rating on the stock in a report on Thursday, May 29th. One research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company's stock. According to data from MarketBeat, NexPoint Residential Trust currently has an average rating of "Hold" and an average price target of $43.58.

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.