$0.37 Earnings Per Share Expected for NexPoint Residential Trust Inc (NXRT) This Quarter
Brokerages expect NexPoint Residential Trust Inc (NASDAQ:NXRT) to post $0.37 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for NexPoint Residential Trust’s earnings. The lowest EPS estimate is $0.36 and the highest is $0.37. NexPoint Residential Trust posted earnings per share of $0.33 during the same quarter last year, which would suggest a positive year over year growth rate of 12.1%. The business is expected to announce its next quarterly earnings report on Thursday, November 9th.
According to Zacks, analysts expect that NexPoint Residential Trust will report full-year earnings of $1.19 per share for the current year, with EPS estimates ranging from $1.18 to $1.21. For the next year, analysts forecast that the business will post earnings of $1.64 per share, with EPS estimates ranging from $1.57 to $1.73. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that cover NexPoint Residential Trust.
NexPoint Residential Trust (NASDAQ:NXRT) last announced its quarterly earnings data on Tuesday, August 1st. The company reported $0.34 EPS for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.02). NexPoint Residential Trust had a net margin of 28.18% and a return on equity of 14.15%. The firm had revenue of $35.23 million during the quarter, compared to analyst estimates of $35.95 million. During the same period last year, the business posted $0.37 EPS. The company’s revenue was up 4.7% on a year-over-year basis.
A number of research firms have weighed in on NXRT. Zacks Investment Research upgraded NexPoint Residential Trust from a “hold” rating to a “buy” rating and set a $28.00 target price on the stock in a report on Wednesday, July 5th. Canaccord Genuity set a $28.00 target price on NexPoint Residential Trust and gave the stock a “buy” rating in a report on Tuesday, August 1st. Ladenburg Thalmann Financial Services reiterated a “buy” rating on shares of NexPoint Residential Trust in a report on Wednesday, August 2nd. BidaskClub upgraded NexPoint Residential Trust from a “sell” rating to a “hold” rating in a report on Tuesday, September 12th. Finally, Janney Montgomery Scott began coverage on NexPoint Residential Trust in a report on Friday, September 8th. They set a “neutral” rating on the stock. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $28.00.
In other news, insider James D. Dondero bought 12,600 shares of NexPoint Residential Trust stock in a transaction on Monday, August 7th. The shares were purchased at an average price of $23.81 per share, for a total transaction of $300,006.00. Following the acquisition, the insider now owns 5,202 shares of the company’s stock, valued at $123,859.62. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider James D. Dondero bought 41,900 shares of NexPoint Residential Trust stock in a transaction on Thursday, August 3rd. The shares were purchased at an average price of $24.28 per share, for a total transaction of $1,017,332.00. Following the acquisition, the insider now directly owns 5,202 shares in the company, valued at approximately $126,304.56. The disclosure for this purchase can be found here. Insiders have acquired a total of 57,500 shares of company stock worth $1,387,418 in the last quarter.
Several hedge funds have recently bought and sold shares of the business. Great West Life Assurance Co. Can grew its holdings in shares of NexPoint Residential Trust by 0.3% during the 2nd quarter. Great West Life Assurance Co. Can now owns 10,225 shares of the company’s stock worth $254,000 after acquiring an additional 29 shares during the period. The Manufacturers Life Insurance Company grew its holdings in shares of NexPoint Residential Trust by 2.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 14,817 shares of the company’s stock worth $369,000 after acquiring an additional 385 shares during the period. American International Group Inc. grew its holdings in shares of NexPoint Residential Trust by 7.1% during the 1st quarter. American International Group Inc. now owns 11,059 shares of the company’s stock worth $267,000 after acquiring an additional 731 shares during the period. AQR Capital Management LLC grew its holdings in shares of NexPoint Residential Trust by 1.3% during the 1st quarter. AQR Capital Management LLC now owns 69,543 shares of the company’s stock worth $1,680,000 after acquiring an additional 904 shares during the period. Finally, Teachers Advisors LLC grew its stake in shares of NexPoint Residential Trust by 1.5% in the 2nd quarter. Teachers Advisors LLC now owns 64,973 shares of the company’s stock worth $1,617,000 after buying an additional 969 shares during the last quarter.
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Shares of NexPoint Residential Trust (NXRT) opened at 23.73 on Friday. The firm has a 50-day moving average price of $23.69 and a 200-day moving average price of $23.69. NexPoint Residential Trust has a 52 week low of $16.67 and a 52 week high of $24.42. The firm has a market cap of $499.35 million and a PE ratio of 45.11.
The company also recently announced a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.71%.
NexPoint Residential Trust Company Profile
NexPoint Residential Trust, Inc is an externally managed real estate investment trust (REIT). The Company’s investment objectives are to maximize the cash flow and value of properties owned, acquire properties with cash flow growth potential, provide quarterly cash distributions and achieve long-term capital appreciation for its stockholders through targeted management and a value-add program.
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