NexPoint Residential Trust (NYSE:NXRT) announced its earnings results on Tuesday. The financial services provider reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.69), MarketWatch Earnings reports. NexPoint Residential Trust had a return on equity of 23.89% and a net margin of 40.64%. The business had revenue of $36.50 million for the quarter, compared to analyst estimates of $36.04 million. NexPoint Residential Trust updated its FY 2018 guidance to $1.67 EPS.
Shares of NXRT stock traded down $0.80 on Wednesday, hitting $35.26. 4,363 shares of the stock traded hands, compared to its average volume of 91,740. The company has a current ratio of 2.77, a quick ratio of 2.77 and a debt-to-equity ratio of 3.24. The stock has a market cap of $716.61 million, a price-to-earnings ratio of 30.11, a PEG ratio of 1.89 and a beta of 0.81. NexPoint Residential Trust has a twelve month low of $23.03 and a twelve month high of $38.17.
Several brokerages have issued reports on NXRT. Boenning Scattergood cut shares of NexPoint Residential Trust to a “hold” rating in a research note on Tuesday. Zacks Investment Research raised shares of NexPoint Residential Trust from a “hold” rating to a “buy” rating and set a $34.00 target price on the stock in a research note on Thursday, August 2nd. B. Riley boosted their price target on shares of NexPoint Residential Trust from $30.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday, August 1st. Finally, ValuEngine raised shares of NexPoint Residential Trust from a “hold” rating to a “buy” rating in a research report on Tuesday, July 31st. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. NexPoint Residential Trust currently has a consensus rating of “Buy” and a consensus target price of $33.75.
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.
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