Brokerages Set NexPoint Residential Trust, Inc. (NYSE:NXRT) PT at $37.75

Shares of NexPoint Residential Trust, Inc. (NYSE:NXRT) have been assigned an average recommendation of “Hold” from the five research firms that are covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1-year price target among analysts that have covered the stock in the last year is $37.75.

A number of brokerages have recently commented on NXRT. Raymond James raised shares of NexPoint Residential Trust from an “underperform” rating to a “market perform” rating in a research report on Friday, May 24th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $38.00 price objective on shares of NexPoint Residential Trust in a report on Tuesday, June 11th. Finally, Truist Financial upped their target price on NexPoint Residential Trust from $34.00 to $37.00 and gave the stock a “hold” rating in a report on Monday, June 24th.

Insiders Place Their Bets

In other news, insider Brian Mitts sold 2,000 shares of the business’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $39.40, for a total value of $78,800.00. Following the completion of the transaction, the insider now directly owns 65,696 shares of the company’s stock, valued at approximately $2,588,422.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 12.96% of the stock is owned by company insiders.

Institutional Trading of NexPoint Residential Trust

A number of institutional investors have recently modified their holdings of NXRT. SRS Capital Advisors Inc. lifted its position in NexPoint Residential Trust by 176.1% during the fourth quarter. SRS Capital Advisors Inc. now owns 903 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 576 shares during the last quarter. Van ECK Associates Corp lifted its holdings in shares of NexPoint Residential Trust by 19.7% during the 4th quarter. Van ECK Associates Corp now owns 3,163 shares of the financial services provider’s stock valued at $109,000 after purchasing an additional 520 shares during the last quarter. Quest Partners LLC purchased a new stake in shares of NexPoint Residential Trust during the 4th quarter valued at $140,000. Price T Rowe Associates Inc. MD acquired a new stake in shares of NexPoint Residential Trust in the 1st quarter worth $212,000. Finally, Daiwa Securities Group Inc. grew its stake in NexPoint Residential Trust by 8.9% during the 1st quarter. Daiwa Securities Group Inc. now owns 7,436 shares of the financial services provider’s stock worth $239,000 after buying an additional 610 shares during the last quarter. 76.61% of the stock is currently owned by institutional investors.

NexPoint Residential Trust Trading Up 1.7 %

NXRT stock opened at $43.31 on Friday. NexPoint Residential Trust has a 12 month low of $26.21 and a 12 month high of $43.72. The firm’s 50-day moving average is $38.51 and its 200 day moving average is $34.15. The company has a market capitalization of $1.11 billion, a PE ratio of 15.30, a P/E/G ratio of 1.26 and a beta of 1.35. The company has a debt-to-equity ratio of 2.90, a current ratio of 2.66 and a quick ratio of 2.66.

NexPoint Residential Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were paid a $0.4624 dividend. This is an increase from NexPoint Residential Trust’s previous quarterly dividend of $0.46. The ex-dividend date was Friday, June 14th. This represents a $1.85 dividend on an annualized basis and a yield of 4.27%. NexPoint Residential Trust’s payout ratio is 65.37%.

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.