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 paid a dividend of 0.4624 per share by the financial services provider on Friday, June 28th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 5.43%. The ex-dividend date is Friday, June 14th. This is a boost from NexPoint Residential Trust’s previous quarterly dividend of $0.46.

NexPoint Residential Trust has raised its dividend by an average of 89.6% per year over the last three years and has raised 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 Trading Down 0.5 %

Shares of NYSE:NXRT opened at $34.07 on Thursday. The company has a 50 day moving average of $31.13 and a 200-day moving average of $31.39. The firm has a market cap of $877.98 million, a P/E ratio of 12.04, a P/E/G ratio of 1.04 and a beta of 1.25. NexPoint Residential Trust has a twelve month low of $26.21 and a twelve month high of $49.87. The company has a current ratio of 2.66, a quick ratio of 1.59 and a debt-to-equity ratio of 2.90.

Wall Street Analyst Weigh In

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

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.