Wall Street analysts forecast that NexPoint Residential Trust Inc (NYSE:NXRT) will post sales of $51.27 million for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for NexPoint Residential Trust's earnings. The lowest sales estimate is $48.40 million and the highest is $52.80 million. NexPoint Residential Trust posted sales of $46.83 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 9.5%. The company is scheduled to report its next quarterly earnings report on Tuesday, November 3rd.
On average, analysts expect that NexPoint Residential Trust will report full-year sales of $205.27 million for the current financial year, with estimates ranging from $199.10 million to $209.20 million. For the next fiscal year, analysts anticipate that the business will report sales of $210.68 million, with estimates ranging from $199.60 million to $218.90 million. Zacks Investment Research's sales averages are a mean average based on a survey of analysts that cover NexPoint Residential Trust.
NexPoint Residential Trust (NYSE:NXRT) last announced its quarterly earnings results on Tuesday, August 4th. The financial services provider reported ($0.38) earnings per share for the quarter, missing the Thomson Reuters' consensus estimate of $0.50 by ($0.88). NexPoint Residential Trust had a net margin of 62.17% and a return on equity of 31.19%.
Several equities research analysts recently issued reports on the stock. Truist raised their target price on shares of NexPoint Residential Trust from $34.00 to $44.00 in a report on Wednesday, August 26th. Zacks Investment Research upgraded shares of NexPoint Residential Trust from a "strong sell" rating to a "hold" rating in a report on Wednesday, July 22nd. Finally, Raymond James raised their target price on shares of NexPoint Residential Trust from $37.00 to $49.00 and gave the stock a "strong-buy" rating in a report on Thursday, August 13th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company's stock. NexPoint Residential Trust currently has an average rating of "Buy" and an average price target of $40.80.
In other NexPoint Residential Trust news, Director Catherine D. Wood purchased 2,400 shares of the company's stock in a transaction dated Monday, September 21st. The shares were acquired at an average price of $41.14 per share, for a total transaction of $98,736.00. Following the purchase, the director now directly owns 2,400 shares of the company's stock, valued at approximately $98,736. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 11.60% of the company's stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ninety One SA PTY Ltd lifted its stake in shares of NexPoint Residential Trust by 8.9% during the 2nd quarter. Ninety One SA PTY Ltd now owns 30,843 shares of the financial services provider's stock valued at $1,388,000 after buying an additional 2,523 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of NexPoint Residential Trust by 42.1% during the 2nd quarter. PNC Financial Services Group Inc. now owns 881 shares of the financial services provider's stock valued at $31,000 after buying an additional 261 shares in the last quarter. Neuberger Berman Group LLC purchased a new position in shares of NexPoint Residential Trust during the 2nd quarter valued at $233,000. Nuveen Asset Management LLC lifted its stake in shares of NexPoint Residential Trust by 2.2% during the 2nd quarter. Nuveen Asset Management LLC now owns 250,187 shares of the financial services provider's stock valued at $8,844,000 after buying an additional 5,310 shares in the last quarter. Finally, Stephens Inc. AR lifted its stake in shares of NexPoint Residential Trust by 20.6% during the 2nd quarter. Stephens Inc. AR now owns 25,974 shares of the financial services provider's stock valued at $918,000 after buying an additional 4,442 shares in the last quarter. Institutional investors own 78.23% of the company's stock.
Shares of NXRT stock opened at $42.60 on Friday. NexPoint Residential Trust has a 12-month low of $21.06 and a 12-month high of $52.87. The company has a current ratio of 2.94, a quick ratio of 2.94 and a debt-to-equity ratio of 3.87. The firm's 50 day moving average is $41.49 and its 200 day moving average is $34.89. The stock has a market capitalization of $1.04 billion, a P/E ratio of 8.50 and a beta of 1.04.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be paid a dividend of $0.313 per share. This represents a $1.25 annualized dividend and a dividend yield of 2.94%. The ex-dividend date of this dividend is Monday, September 14th. This is a boost from NexPoint Residential Trust's previous quarterly dividend of $0.31. NexPoint Residential Trust's dividend payout ratio (DPR) is currently 56.82%.
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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