NexPoint Residential Trust (NYSE:NXRT) Trading 5.4% Higher After Dividend Announcement

NexPoint Residential Trust, Inc. (NYSE:NXRT)’s stock price traded up 5.4% on Tuesday following a dividend announcement from the company. The company traded as high as $40.96 and last traded at $41.07. 57,487 shares traded hands during trading, a decline of 43% from the average session volume of 101,239 shares. The stock had previously closed at $38.96.

The newly announced dividend which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 4.96%. NexPoint Residential Trust’s dividend payout ratio (DPR) is 116.57%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised NexPoint Residential Trust from a “sell” rating to a “hold” rating in a research note on Friday. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, NexPoint Residential Trust currently has an average rating of “Moderate Buy” and a consensus price target of $49.00.

NexPoint Residential Trust Price Performance

The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 3.25. The business’s 50 day moving average price is $40.07 and its two-hundred day moving average price is $43.20. The stock has a market cap of $1.05 billion, a P/E ratio of 23.49, a price-to-earnings-growth ratio of 2.34 and a beta of 1.42.

NexPoint Residential Trust (NYSE:NXRT) last posted its quarterly earnings data on Tuesday, February 25th. The financial services provider reported $0.78 earnings per share for the quarter, missing the consensus estimate of $0.80 by ($0.02). NexPoint Residential Trust had a net margin of 17.54% and a return on equity of 9.54%. As a group, sell-side analysts expect that NexPoint Residential Trust, Inc. will post 2.86 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NexPoint Residential Trust

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NXRT. Valley Wealth Managers Inc. bought a new stake in shares of NexPoint Residential Trust during the 3rd quarter valued at $27,000. Smartleaf Asset Management LLC boosted its stake in NexPoint Residential Trust by 104.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 894 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 456 shares in the last quarter. Johnson Financial Group Inc. purchased a new stake in NexPoint Residential Trust in the fourth quarter worth about $35,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in NexPoint Residential Trust by 34.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 900 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 232 shares during the period. Finally, Meeder Asset Management Inc. bought a new position in NexPoint Residential Trust during the 3rd quarter valued at approximately $42,000. 76.61% of the stock is owned by hedge funds and other institutional investors.

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.