NexPoint Residential Trust, Inc. (NXRT) to Issue Quarterly Dividend of $0.22 on September 29th
NexPoint Residential Trust, Inc. (NYSE:NXRT) announced a quarterly dividend on Tuesday, August 1st, Zacks reports. Shareholders of record on Friday, September 15th will be paid a dividend of 0.22 per share by the financial services provider on Friday, September 29th. This represents a $0.88 dividend on an annualized basis and a yield of 3.73%. The ex-dividend date is Thursday, September 14th. This is a boost from NexPoint Residential Trust’s previous quarterly dividend of $0.21.
NexPoint Residential Trust has a dividend payout ratio of 73.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect NexPoint Residential Trust to earn $1.64 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 53.7%.
Shares of NexPoint Residential Trust (NYSE NXRT) opened at 23.59 on Wednesday. The firm’s 50-day moving average price is $24.34 and its 200-day moving average price is $24.11. The firm has a market cap of $496.40 million, a PE ratio of 44.85 and a beta of 0.84. NexPoint Residential Trust has a one year low of $16.67 and a one year high of $24.42.
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Several research analysts have issued reports on the company. BidaskClub cut NexPoint Residential Trust from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Janney Montgomery Scott assumed coverage on NexPoint Residential Trust in a report on Friday, September 8th. They issued a “neutral” rating on the stock.
NexPoint Residential Trust Company Profile
NexPoint Residential Trust, Inc is an externally managed real estate investment trust (REIT). The Company’s investment objectives are to maximize the cash flow and value of properties owned, acquire properties with cash flow growth potential, provide quarterly cash distributions and achieve long-term capital appreciation for its stockholders through targeted management and a value-add program.
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