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

NexPoint Residential Trust, Inc. (NYSE:NXRT) declared a quarterly dividend on Tuesday, April 29th, RTT News reports. Shareholders of record on Monday, June 16th will be given a dividend of 0.51 per share by the financial services provider on Monday, June 30th. This represents a $2.04 dividend on an annualized basis and a yield of 5.45%.

NexPoint Residential Trust has a payout ratio of -180.5% 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 Performance

NXRT opened at $37.43 on Wednesday. NexPoint Residential Trust has a 12-month low of $30.98 and a 12-month high of $48.37. 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 firm has a market capitalization of $955.74 million, a PE ratio of 21.39, a P/E/G ratio of 2.34 and a beta of 1.18. The firm has a 50 day moving average of $38.04 and a two-hundred day moving average of $40.97.

Insider Buying and Selling

In related news, insider Paul Richards purchased 5,814 shares of the business’s stock in a transaction that occurred on Monday, April 7th. The stock was bought at an average price of $33.24 per share, with a total value of $193,257.36. Following the acquisition, the insider now owns 18,493 shares in the company, valued at $614,707.32. The trade was a 45.86 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 15.36% of the stock is owned by insiders.

Wall Street Analyst Weigh In

NXRT has been the subject of a number of recent research reports. Truist Financial raised their price target on shares of NexPoint Residential Trust from $41.00 to $42.00 and gave the stock a “hold” rating in a research report on Monday, March 10th. Jefferies Financial Group raised their price target on shares of NexPoint Residential Trust from $41.00 to $43.00 and gave the stock a “hold” rating in a research report on Monday, March 10th. StockNews.com lowered shares of NexPoint Residential Trust from a “hold” rating to a “sell” rating in a report on Saturday, March 1st. Finally, Raymond James cut their target price on shares of NexPoint Residential Trust from $50.00 to $44.00 and set an “outperform” rating for the company in a report on Thursday, March 20th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $46.33.

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.