NexPoint Residential Trust (NYSE:NXRT) Upgraded at StockNews.com

StockNews.com upgraded shares of NexPoint Residential Trust (NYSE:NXRT) from a sell rating to a hold rating in a research note published on Tuesday.

NXRT has been the topic of a number of other research reports. Deutsche Bank Aktiengesellschaft boosted their price target on NexPoint Residential Trust from $38.00 to $44.00 and gave the stock a “hold” rating in a research note on Tuesday, September 10th. Compass Point upped their price target on shares of NexPoint Residential Trust from $45.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Raymond James upgraded shares of NexPoint Residential Trust from a “market perform” rating to an “outperform” rating and set a $50.00 price objective for the company in a research note on Monday, October 21st. Truist Financial upped their target price on NexPoint Residential Trust from $37.00 to $46.00 and gave the company a “hold” rating in a research report on Tuesday, August 27th. Finally, JMP Securities raised their target price on NexPoint Residential Trust from $40.00 to $50.00 and gave the stock a “market outperform” rating in a research note on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, NexPoint Residential Trust presently has an average rating of “Hold” and a consensus price target of $46.83.

NexPoint Residential Trust Price Performance

Shares of NXRT opened at $46.17 on Tuesday. The company has a 50 day moving average of $44.13 and a two-hundred day moving average of $41.76. The company has a market cap of $1.17 billion, a price-to-earnings ratio of 26.38, a price-to-earnings-growth ratio of 1.53 and a beta of 1.37. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 3.25. NexPoint Residential Trust has a twelve month low of $28.20 and a twelve month high of $48.37.

NexPoint Residential Trust (NYSE:NXRT) last posted its quarterly earnings data on Tuesday, October 29th. The financial services provider reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($1.01). NexPoint Residential Trust had a return on equity of 9.54% and a net margin of 17.54%. The business had revenue of $64.10 million during the quarter, compared to analyst estimates of $64.69 million. During the same period in the previous year, the business earned $0.76 EPS. As a group, analysts predict that NexPoint Residential Trust will post 2.78 earnings per share for the current fiscal year.

NexPoint Residential Trust Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 4.42%. The ex-dividend date of this dividend is Friday, December 13th. This is a boost from NexPoint Residential Trust’s previous quarterly dividend of $0.46. NexPoint Residential Trust’s dividend payout ratio (DPR) is 116.57%.

Hedge Funds Weigh In On NexPoint Residential Trust

Institutional investors and hedge funds have recently modified their holdings of the stock. Valley Wealth Managers Inc. acquired a new stake in NexPoint Residential Trust during the third quarter worth about $27,000. Point72 DIFC Ltd acquired a new stake in shares of NexPoint Residential Trust during the 2nd quarter worth approximately $32,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of NexPoint Residential Trust by 34.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 900 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 232 shares in the last quarter. Signaturefd LLC lifted its stake in shares of NexPoint Residential Trust by 238.4% in the 2nd quarter. Signaturefd LLC now owns 1,039 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 732 shares during the period. Finally, Meeder Asset Management Inc. acquired a new position in shares of NexPoint Residential Trust in the 3rd quarter valued at $42,000. Institutional investors and hedge funds own 76.61% of the company’s stock.

NexPoint Residential Trust Company Profile

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.