NexPoint Residential Trust (NYSE:NXRT) Releases FY 2024 Earnings Guidance

NexPoint Residential Trust (NYSE:NXRT) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 2.780-2.780 for the period, compared to the consensus estimate of 2.660. The company issued revenue guidance of -.

NexPoint Residential Trust Price Performance

Shares of NXRT traded up $0.57 during midday trading on Tuesday, hitting $43.57. 25,777 shares of the company traded hands, compared to its average volume of 140,367. The firm has a 50 day moving average of $44.68 and a 200-day moving average of $40.46. NexPoint Residential Trust has a 52 week low of $26.21 and a 52 week high of $48.37. The stock has a market cap of $1.11 billion, a price-to-earnings ratio of 12.88, a PEG ratio of 1.30 and a beta of 1.37. The company has a debt-to-equity ratio of 2.96, a quick ratio of 2.00 and a current ratio of 2.00.

NexPoint Residential Trust (NYSE:NXRT) last released its quarterly earnings data on Tuesday, July 30th. The financial services provider reported $0.40 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.29). NexPoint Residential Trust had a net margin of 32.93% and a return on equity of 17.69%. The company had revenue of $64.24 million for the quarter, compared to the consensus estimate of $64.99 million. During the same period last year, the company earned $0.88 EPS. On average, analysts forecast that NexPoint Residential Trust will post 2.82 EPS for the current fiscal year.

NexPoint Residential Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be issued a $0.51 dividend. This is an increase from NexPoint Residential Trust’s previous quarterly dividend of $0.46. This represents a $2.04 dividend on an annualized basis and a dividend yield of 4.68%. NexPoint Residential Trust’s dividend payout ratio (DPR) is presently 54.73%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on NXRT shares. JMP Securities increased their price objective on shares of NexPoint Residential Trust from $40.00 to $50.00 and gave the stock a “market outperform” rating in a research report on Friday, August 2nd. Compass Point increased their price objective on shares of NexPoint Residential Trust from $45.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Truist Financial increased their price objective on shares of NexPoint Residential Trust from $37.00 to $46.00 and gave the stock a “hold” rating in a research report on Tuesday, August 27th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of NexPoint Residential Trust from $38.00 to $44.00 and gave the stock a “hold” rating in a research report on Tuesday, September 10th. Finally, Raymond James raised shares of NexPoint Residential Trust from a “market perform” rating to an “outperform” rating and set a $50.00 price objective on the stock in a research report on Monday, October 21st. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $46.83.

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.