NexPoint Residential Trust (NXRT) Releases Quarterly Earnings Results, Beats Estimates By $0.02 EPS

NexPoint Residential Trust (NYSE:NXRT) released its quarterly earnings data on Tuesday. The financial services provider reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.02, Morningstar.com reports. The company had revenue of $34.90 million for the quarter, compared to analyst estimates of $36.28 million. NexPoint Residential Trust had a net margin of 40.80% and a return on equity of 24.54%. NexPoint Residential Trust’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.39 EPS. NexPoint Residential Trust updated its FY18 guidance to $1.60-1.70 EPS.

Shares of NexPoint Residential Trust (NYSE:NXRT) traded up $0.19 during mid-day trading on Tuesday, hitting $24.65. 2,242 shares of the company traded hands, compared to its average volume of 73,706. The company has a market cap of $518.48, a P/E ratio of 9.09, a price-to-earnings-growth ratio of 2.93 and a beta of 0.72. The company has a quick ratio of 1.72, a current ratio of 1.72 and a debt-to-equity ratio of 3.09. NexPoint Residential Trust has a 1-year low of $22.28 and a 1-year high of $29.40.

In related news, insider James D. Dondero bought 18,000 shares of NexPoint Residential Trust stock in a transaction that occurred on Thursday, December 14th. The stock was acquired at an average price of $26.65 per share, with a total value of $479,700.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider James D. Dondero bought 10,000 shares of NexPoint Residential Trust stock in a transaction that occurred on Monday, December 18th. The shares were bought at an average cost of $28.50 per share, with a total value of $285,000.00. The disclosure for this purchase can be found here. Insiders have purchased a total of 86,553 shares of company stock valued at $2,360,392 in the last ninety days. 19.00% of the stock is currently owned by insiders.

Several hedge funds have recently made changes to their positions in NXRT. Tower Research Capital LLC TRC boosted its holdings in shares of NexPoint Residential Trust by 448.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 5,270 shares of the financial services provider’s stock worth $147,000 after buying an additional 4,309 shares during the period. Forsta AP Fonden bought a new stake in NexPoint Residential Trust in the 4th quarter valued at about $204,000. The Manufacturers Life Insurance Company boosted its holdings in NexPoint Residential Trust by 2.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 14,817 shares of the financial services provider’s stock valued at $369,000 after purchasing an additional 385 shares during the period. Boothbay Fund Management LLC bought a new stake in NexPoint Residential Trust in the 3rd quarter valued at about $415,000. Finally, Alliancebernstein L.P. boosted its holdings in NexPoint Residential Trust by 15.1% in the 2nd quarter. Alliancebernstein L.P. now owns 17,190 shares of the financial services provider’s stock valued at $428,000 after purchasing an additional 2,260 shares during the period. 55.65% of the stock is owned by institutional investors and hedge funds.

NXRT has been the topic of several recent analyst reports. B. Riley boosted their price objective on shares of NexPoint Residential Trust from $27.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, November 1st. Zacks Investment Research lowered shares of NexPoint Residential Trust from a “hold” rating to a “sell” rating in a research note on Friday, November 3rd. Ladenburg Thalmann Financial Services restated a “buy” rating on shares of NexPoint Residential Trust in a research note on Thursday, November 2nd. ValuEngine lowered shares of NexPoint Residential Trust from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Finally, FBR & Co initiated coverage on shares of NexPoint Residential Trust in a research note on Thursday, October 26th. They set a “buy” rating and a $27.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $28.50.

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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.

Earnings History for NexPoint Residential Trust (NYSE:NXRT)

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