NexPoint Residential Trust, Inc. (NXRT) to Issue Quarterly Dividend of $0.46 on June 28th

NexPoint Residential Trust, Inc. (NYSE:NXRT) declared a quarterly dividend on Tuesday, April 30th, Wall Street Journal reports. Shareholders of record on Friday, June 14th will be paid 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 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 payment by an average of 89.6% per year over the last three years and has increased its dividend every year for the last 2 years. NexPoint Residential Trust has a 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. Equities 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 Price Performance

NYSE NXRT opened at $34.07 on Thursday. The company has a 50-day moving average price of $31.13 and a 200-day moving average price of $31.39. NexPoint Residential Trust has a 52 week low of $26.21 and a 52 week high of $49.87. The company has a quick ratio of 1.59, a current ratio of 2.66 and a debt-to-equity ratio of 2.90. The firm has a market capitalization of $877.98 million, a P/E ratio of 12.04, a PEG ratio of 1.04 and a beta of 1.25.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. JMP Securities restated a “market outperform” rating and set a $40.00 target price on shares of NexPoint Residential Trust in a research report on Wednesday, March 6th. Truist Financial cut their price objective on shares of 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. Deutsche Bank Aktiengesellschaft initiated coverage on NexPoint Residential Trust in a report on Tuesday, January 30th. They issued a “buy” rating and a $38.00 target price on the stock. Finally, Raymond James cut shares of NexPoint Residential Trust from a “market perform” rating to an “underperform” rating in a research report on Monday, March 18th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, NexPoint Residential Trust currently has an average rating of “Hold” and a consensus target price 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.