Shares of multifamily assets management firm NexPoint Residential Trust, Inc. (NXRT) fell 1.1% to close at $60.40 on Tuesday after the company reported mixed financial results for the second quarter of 2021.
NexPoint is engaged in buying, owning and operating middle-income multifamily properties primarily in the Southwestern and Southeastern U.S.
Net loss totaled $0.14 per share, compared to a loss of $0.38 per share in the year-ago period. The Street had expected the company to report a loss of $0.27 per share. (See NexPoint stock chart on TipRanks)
Total revenues amounted to $52.6 million, up from $50.7 million reported in the second quarter of 2020, but missed analysts’ expectations of $53.44 million.
NexPoint has updated its guidance for 2021 and expects earnings per share (EPS) to range from $0.07 to $0.17. Furthermore, same store total revenue is likely to grow 4.3% to 5%.
On July 19, Raymond James analyst Buck Horne maintained a Buy rating on the stock with a price target of $67 (11% upside potential). The analyst expects the company to record a loss of $0.27 per share in the third quarter.
Overall, the stock has a Strong Buy consensus based on 3 Buys and 1 Hold. The average NexPoint Residential Trust price target of $61.75 implies 2.2% upside potential. The company’s shares have gained 65.4% over the past year.
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