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

NexPoint Residential Trust (NYSE:NXRT) updated its FY 2024 earnings guidance on Tuesday. 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 -.

Wall Street Analysts Forecast Growth

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

NexPoint Residential Trust Price Performance

Shares of NXRT stock traded down $1.04 on Thursday, hitting $41.65. 162,938 shares of the stock traded hands, compared to its average volume of 141,131. The firm has a market cap of $1.06 billion, a price-to-earnings ratio of 12.64, a PEG ratio of 1.30 and a beta of 1.37. NexPoint Residential Trust has a 52 week low of $26.21 and a 52 week high of $48.37. The firm has a 50 day simple moving average of $44.61 and a two-hundred day simple moving average of $40.55. The company has a debt-to-equity ratio of 2.96, a current ratio of 2.00 and a quick ratio of 2.00.

NexPoint Residential Trust (NYSE:NXRT) last announced its quarterly earnings results on Tuesday, July 30th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.29). The company had revenue of $64.24 million during the quarter, compared to the consensus estimate of $64.99 million. NexPoint Residential Trust had a net margin of 32.93% and a return on equity of 17.69%. During the same quarter in the prior year, the firm posted $0.88 earnings per share. As a group, equities research analysts predict that NexPoint Residential Trust will post 2.82 earnings per share for the current fiscal year.

NexPoint Residential Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders 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 yield of 4.90%. The ex-dividend date is Friday, December 13th. NexPoint Residential Trust’s payout ratio is currently 54.73%.

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.