$36.40 Million in Sales Expected for NexPoint Residential Trust, Inc. (NXRT) This Quarter
Brokerages forecast that NexPoint Residential Trust, Inc. (NYSE:NXRT) will announce $36.40 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for NexPoint Residential Trust’s earnings. The highest sales estimate is $37.17 million and the lowest is $35.78 million. NexPoint Residential Trust reported sales of $32.60 million during the same quarter last year, which indicates a positive year-over-year growth rate of 11.7%. The business is scheduled to issue its next earnings report on Tuesday, March 13th.
On average, analysts expect that NexPoint Residential Trust will report full-year sales of $36.40 million for the current fiscal year, with estimates ranging from $145.38 million to $146.49 million. For the next financial year, analysts expect that the company will report sales of $149.49 million per share, with estimates ranging from $141.63 million to $156.54 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow NexPoint Residential Trust.
Several equities research analysts recently weighed in on NXRT shares. B. Riley reaffirmed a “buy” rating and set a $28.00 price target (up from $27.00) on shares of NexPoint Residential Trust in a report on Thursday, November 2nd. FBR & Co reaffirmed a “buy” rating and set a $27.00 price target on shares of NexPoint Residential Trust in a report on Thursday, October 26th. Janney Montgomery Scott started coverage on NexPoint Residential Trust in a report on Friday, September 8th. They set a “neutral” rating for the company. Zacks Investment Research downgraded NexPoint Residential Trust from a “hold” rating to a “sell” rating in a report on Friday, November 3rd. Finally, Ladenburg Thalmann Financial Services reaffirmed a “buy” rating on shares of NexPoint Residential Trust in a report on Thursday, November 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $27.75.
Shares of NexPoint Residential Trust (NYSE:NXRT) opened at $28.75 on Friday. The firm has a market capitalization of $605.45, a P/E ratio of 18.20, a PEG ratio of 4.96 and a beta of 0.81. NexPoint Residential Trust has a fifty-two week low of $19.17 and a fifty-two week high of $29.21. The company has a quick ratio of 1.72, a current ratio of 1.72 and a debt-to-equity ratio of 3.09.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be issued a dividend of $0.25 per share. The ex-dividend date is Thursday, December 14th. This is an increase from NexPoint Residential Trust’s previous quarterly dividend of $0.22. This represents a $1.00 annualized dividend and a dividend yield of 3.48%. NexPoint Residential Trust’s dividend payout ratio (DPR) is currently 32.71%.
In related news, insider James D. Dondero purchased 1,100 shares of the firm’s stock in a transaction that occurred on Tuesday, October 10th. The stock was purchased at an average cost of $23.37 per share, with a total value of $25,707.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 16.60% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in NXRT. Numeric Investors LLC lifted its holdings in NexPoint Residential Trust by 61.0% in the second quarter. Numeric Investors LLC now owns 547,597 shares of the financial services provider’s stock valued at $13,630,000 after acquiring an additional 207,460 shares during the period. Vanguard Group Inc. lifted its holdings in NexPoint Residential Trust by 7.1% in the first quarter. Vanguard Group Inc. now owns 2,015,961 shares of the financial services provider’s stock valued at $48,706,000 after acquiring an additional 134,077 shares during the period. Boston Partners lifted its holdings in NexPoint Residential Trust by 89.0% in the third quarter. Boston Partners now owns 275,200 shares of the financial services provider’s stock valued at $6,530,000 after acquiring an additional 129,600 shares during the period. Renaissance Technologies LLC lifted its holdings in NexPoint Residential Trust by 19.8% in the second quarter. Renaissance Technologies LLC now owns 780,100 shares of the financial services provider’s stock valued at $19,417,000 after acquiring an additional 129,000 shares during the period. Finally, Russell Investments Group Ltd. lifted its holdings in NexPoint Residential Trust by 109.3% in the third quarter. Russell Investments Group Ltd. now owns 220,919 shares of the financial services provider’s stock valued at $5,242,000 after acquiring an additional 115,368 shares during the period. 58.07% of the stock is owned by institutional investors.
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About NexPoint Residential Trust
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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