NexPoint Residential Trust, Inc. (NYSE:NXRT) Announces Quarterly Dividend of $0.46

NexPoint Residential Trust, Inc. (NYSE:NXRT) announced a quarterly dividend on Tuesday, April 30th, Wall Street Journal reports. Stockholders of record on Friday, June 14th will be given a dividend of 0.4624 per share by the financial services provider on Friday, June 28th. This represents a $1.85 annualized dividend and a dividend yield of 5.43%. The ex-dividend date is Friday, June 14th. This is an increase from NexPoint Residential Trust’s previous quarterly dividend of $0.46.

NexPoint Residential Trust has increased its dividend by an average of 89.6% annually over the last three years and has increased its dividend every year for the last 2 years. NexPoint Residential Trust has a payout ratio of -298.4% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect NexPoint Residential Trust to earn $2.59 per share next year, which means the company should continue to be able to cover its $1.85 annual dividend with an expected future payout ratio of 71.4%.

NexPoint Residential Trust Price Performance

NXRT opened at $34.07 on Thursday. NexPoint Residential Trust has a one year low of $26.21 and a one year high of $49.87. The company has a debt-to-equity ratio of 2.90, a current ratio of 2.66 and a quick ratio of 1.59. The company’s 50 day simple moving average is $31.13 and its 200-day simple moving average is $31.39. The stock has a market capitalization of $877.98 million, a P/E ratio of 12.04, a price-to-earnings-growth ratio of 1.04 and a beta of 1.25.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Truist Financial cut their price objective on shares of NexPoint Residential Trust from $37.00 to $35.00 and set a “hold” rating on the stock in a report on Tuesday, April 9th. JMP Securities reiterated a “market outperform” rating and issued a $40.00 target price on shares of NexPoint Residential Trust in a report on Wednesday, March 6th. Raymond James downgraded shares of NexPoint Residential Trust from a “market perform” rating to an “underperform” rating in a research report on Monday, March 18th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of NexPoint Residential Trust in a research report on Tuesday, January 30th. They set a “buy” rating and a $38.00 price objective for the company. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $37.25.

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.