NexPoint Residential Trust (NYSE:NXRT) PT Raised to $37.00

NexPoint Residential Trust (NYSE:NXRT) had its target price upped by Truist Financial from $34.00 to $37.00 in a research report report published on Monday, Benzinga reports. They currently have a hold rating on the financial services provider’s stock.

A number of other brokerages have also issued reports on NXRT. Raymond James upgraded NexPoint Residential Trust from an underperform rating to a market perform rating in a research report on Friday, May 24th. Deutsche Bank Aktiengesellschaft reaffirmed a hold rating and issued a $38.00 price objective on shares of NexPoint Residential Trust in a report on Tuesday, June 11th. Finally, JMP Securities reissued a market outperform rating and set a $40.00 target price on shares of NexPoint Residential Trust in a research note on Wednesday, March 6th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of Hold and an average price target of $37.75.

NexPoint Residential Trust Stock Performance

NXRT opened at $38.01 on Monday. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 2.90. The business’s 50 day moving average is $35.94 and its 200-day moving average is $33.23. The stock has a market cap of $975.72 million, a PE ratio of 13.43, a price-to-earnings-growth ratio of 1.13 and a beta of 1.33. NexPoint Residential Trust has a twelve month low of $26.21 and a twelve month high of $49.87.

NexPoint Residential Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a $0.4624 dividend. The ex-dividend date is Friday, June 14th. This is a boost from NexPoint Residential Trust’s previous quarterly dividend of $0.46. This represents a $1.85 annualized dividend and a yield of 4.87%. NexPoint Residential Trust’s payout ratio is 65.37%.

Insider Activity

In related news, insider Brian Mitts sold 5,000 shares of the stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $34.25, for a total transaction of $171,250.00. Following the completion of the sale, the insider now directly owns 66,947 shares of the company’s stock, valued at $2,292,934.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 12.96% of the company’s stock.

Institutional Investors Weigh In On NexPoint Residential Trust

Hedge funds have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. increased its stake in NexPoint Residential Trust by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 302,269 shares of the financial services provider’s stock worth $10,407,000 after purchasing an additional 8,959 shares in the last quarter. State of New Jersey Common Pension Fund D boosted its stake in NexPoint Residential Trust by 5.3% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 290,822 shares of the financial services provider’s stock worth $10,013,000 after purchasing an additional 14,659 shares during the period. BOKF NA grew its position in NexPoint Residential Trust by 3.1% during the 1st quarter. BOKF NA now owns 176,579 shares of the financial services provider’s stock worth $5,575,000 after purchasing an additional 5,248 shares in the last quarter. AQR Capital Management LLC raised its stake in NexPoint Residential Trust by 175.9% during the 3rd quarter. AQR Capital Management LLC now owns 163,547 shares of the financial services provider’s stock valued at $5,263,000 after purchasing an additional 104,270 shares during the period. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of NexPoint Residential Trust by 41.7% in the third quarter. Envestnet Asset Management Inc. now owns 145,379 shares of the financial services provider’s stock valued at $4,678,000 after purchasing an additional 42,789 shares in the last quarter. 76.61% of the stock is owned by hedge funds and other institutional investors.

About NexPoint Residential Trust

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.