NexPoint Residential Trust, Inc. (NYSE:NXRT) Announces Quarterly Dividend of $0.51

NexPoint Residential Trust, Inc. (NYSE:NXRT) declared a quarterly dividend on Tuesday, February 25th, RTT News reports. Investors of record on Friday, March 14th will be given a dividend of 0.51 per share by the financial services provider on Monday, March 31st. This represents a $2.04 dividend on an annualized basis and a dividend yield of 5.00%.

NexPoint Residential Trust has a payout ratio of -196.2% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect NexPoint Residential Trust to earn $2.78 per share next year, which means the company should continue to be able to cover its $2.04 annual dividend with an expected future payout ratio of 73.4%.

NexPoint Residential Trust Stock Up 0.9 %

Shares of NYSE NXRT traded up $0.35 during trading on Wednesday, hitting $40.77. 16,248 shares of the company traded hands, compared to its average volume of 103,929. The firm has a market capitalization of $1.04 billion, a price-to-earnings ratio of 23.30, a P/E/G ratio of 2.34 and a beta of 1.42. The business’s fifty day moving average is $39.98 and its 200 day moving average is $43.18. The company has a debt-to-equity ratio of 3.25, a quick ratio of 1.79 and a current ratio of 1.79. NexPoint Residential Trust has a fifty-two week low of $28.20 and a fifty-two week high of $48.37.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded NexPoint Residential Trust from a “sell” rating to a “hold” rating in a report on Friday, February 21st. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $49.00.

About NexPoint Residential Trust

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.