$37.01 Million in Sales Expected for NexPoint Residential Trust Inc (NXRT) This Quarter
Analysts forecast that NexPoint Residential Trust Inc (NASDAQ:NXRT) will announce sales of $37.01 million for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for NexPoint Residential Trust’s earnings, with the highest sales estimate coming in at $37.37 million and the lowest estimate coming in at $36.66 million. NexPoint Residential Trust posted sales of $33.10 million during the same quarter last year, which would indicate a positive year over year growth rate of 11.8%. The business is expected to announce its next quarterly earnings results on Thursday, November 9th.
On average, analysts expect that NexPoint Residential Trust will report full-year sales of $37.01 million for the current financial year, with estimates ranging from $143.22 million to $145.38 million. For the next year, analysts anticipate that the firm will report sales of $143.28 million per share, with estimates ranging from $141.63 million to $144.92 million. Zacks’ sales averages are a mean average based on a survey of analysts that cover NexPoint Residential Trust.
NexPoint Residential Trust (NASDAQ:NXRT) last released its quarterly earnings results on Tuesday, August 1st. The company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). The business had revenue of $35.23 million for the quarter, compared to analysts’ expectations of $35.95 million. NexPoint Residential Trust had a return on equity of 14.15% and a net margin of 28.18%. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.37 earnings per share.
NXRT has been the subject of a number of analyst reports. Zacks Investment Research raised NexPoint Residential Trust from a “hold” rating to a “buy” rating and set a $28.00 price target for the company in a report on Wednesday, July 5th. Janney Montgomery Scott started coverage on NexPoint Residential Trust in a research note on Friday, September 8th. They issued a “neutral” rating for the company. Ladenburg Thalmann Financial Services reiterated a “buy” rating on shares of NexPoint Residential Trust in a research note on Wednesday, August 2nd. Canaccord Genuity set a $28.00 target price on NexPoint Residential Trust and gave the company a “buy” rating in a research note on Tuesday, August 1st. Finally, BidaskClub upgraded NexPoint Residential Trust from a “sell” rating to a “hold” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $26.67.
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NexPoint Residential Trust (NASDAQ NXRT) opened at 23.45 on Thursday. The stock’s 50 day moving average price is $23.97 and its 200-day moving average price is $24.07. NexPoint Residential Trust has a 12-month low of $16.67 and a 12-month high of $24.42. The stock has a market capitalization of $493.46 million and a PE ratio of 44.58.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be paid a $0.22 dividend. The ex-dividend date is Thursday, September 14th. This represents a $0.88 annualized dividend and a yield of 3.72%.
In other NexPoint Residential Trust news, insider James D. Dondero bought 41,900 shares of the company’s stock in a transaction that occurred on Thursday, August 3rd. The stock was purchased at an average cost of $24.28 per share, for a total transaction of $1,017,332.00. Following the completion of the purchase, the insider now owns 5,202 shares of the company’s stock, valued at approximately $126,304.56. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider James D. Dondero bought 2,000 shares of the company’s stock in a transaction that occurred on Friday, August 11th. The stock was acquired at an average price of $23.30 per share, with a total value of $46,600.00. Following the completion of the purchase, the insider now directly owns 30,725 shares of the company’s stock, valued at approximately $715,892.50. The disclosure for this purchase can be found here. Insiders purchased 56,500 shares of company stock valued at $1,363,938 over the last quarter.
Institutional investors have recently added to or reduced their stakes in the stock. Chicago Equity Partners LLC acquired a new position in NexPoint Residential Trust in the second quarter valued at $209,000. OMERS ADMINISTRATION Corp acquired a new position in NexPoint Residential Trust in the first quarter valued at $215,000. Great West Life Assurance Co. Can increased its stake in NexPoint Residential Trust by 0.3% in the second quarter. Great West Life Assurance Co. Can now owns 10,225 shares of the company’s stock valued at $254,000 after purchasing an additional 29 shares during the last quarter. American International Group Inc. increased its stake in NexPoint Residential Trust by 7.1% in the first quarter. American International Group Inc. now owns 11,059 shares of the company’s stock valued at $267,000 after purchasing an additional 731 shares during the last quarter. Finally, Virginia Retirement Systems ET AL acquired a new position in NexPoint Residential Trust in the first quarter valued at $348,000.
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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