NexPoint Residential Trust, Inc. (NYSE:NXRT) Declares Dividend Increase - $0.46 Per Share

NexPoint Residential Trust, Inc. (NYSE:NXRT - Get Free Report) declared a quarterly dividend on Wednesday, May 1st, Wall Street Journal reports. Stockholders of record on Friday, June 14th will be given a dividend of 0.4624 per share by the financial services provider on Friday, June 28th. This represents a $1.85 annualized dividend and a dividend yield of 5.43%. The ex-dividend date is Friday, June 14th. This is a boost from NexPoint Residential Trust's previous quarterly dividend of $0.46.

NexPoint Residential Trust has raised its dividend by an average of 89.6% per year over the last three years and has increased its dividend annually for the last 2 consecutive years. NexPoint Residential Trust has a dividend payout ratio of -298.4% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect NexPoint Residential Trust to earn $2.59 per share next year, which means the company should continue to be able to cover its $1.85 annual dividend with an expected future payout ratio of 71.4%.

NexPoint Residential Trust Stock Down 0.5 %

Shares of NXRT traded down $0.17 during trading hours on Wednesday, hitting $34.07. The company had a trading volume of 153,607 shares, compared to its average volume of 154,613. The firm has a fifty day moving average price of $31.13 and a 200-day moving average price of $31.39. The company has a debt-to-equity ratio of 3.16, a quick ratio of 1.59 and a current ratio of 1.59. The stock has a market capitalization of $877.98 million, a price-to-earnings ratio of 20.28, a P/E/G ratio of 1.01 and a beta of 1.28. NexPoint Residential Trust has a 52-week low of $26.21 and a 52-week high of $49.87.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on NXRT shares. Truist Financial decreased their target price on NexPoint Residential Trust from $37.00 to $35.00 and set a "hold" rating for the company in a research report on Tuesday, April 9th. JMP Securities restated a "market outperform" rating and issued a $40.00 price target on shares of NexPoint Residential Trust in a research note on Wednesday, March 6th. Raymond James lowered NexPoint Residential Trust from a "market perform" rating to an "underperform" rating in a report on Monday, March 18th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on NexPoint Residential Trust in a research report on Tuesday, January 30th. They issued a "buy" rating and a $38.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $37.25.

NexPoint Residential Trust Company Profile

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.