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

Shares of NexPoint Residential Trust, Inc. (NYSE:NXRT) have been given an average rating of “Hold” by the five research firms that are covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $37.75.

Several equities research analysts recently weighed in on NXRT shares. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $38.00 price objective on shares of NexPoint Residential Trust in a report on Tuesday, June 11th. Truist Financial boosted their price target on shares of NexPoint Residential Trust from $34.00 to $37.00 and gave the company a “hold” rating in a research report on Monday, June 24th. Finally, Raymond James raised shares of NexPoint Residential Trust from an “underperform” rating to a “market perform” rating in a report on Friday, May 24th.

NexPoint Residential Trust Stock Performance

NYSE:NXRT opened at $43.31 on Friday. The company has a market capitalization of $1.11 billion, a P/E ratio of 15.30, a P/E/G ratio of 1.26 and a beta of 1.35. The business has a fifty day simple moving average of $38.51 and a two-hundred day simple moving average of $34.15. 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 has a 1 year low of $26.21 and a 1 year high of $43.72.

NexPoint Residential Trust Increases Dividend

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

Insider Buying and Selling at NexPoint Residential Trust

In other news, insider Brian Mitts sold 5,000 shares of the company’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $34.25, for a total value of $171,250.00. Following the transaction, the insider now owns 66,947 shares of the company’s stock, valued at $2,292,934.75. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 12.96% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Burford Brothers Inc. bought a new stake in NexPoint Residential Trust during the fourth quarter valued at approximately $855,000. Strs Ohio grew its position in NexPoint Residential Trust by 61.4% in the fourth quarter. Strs Ohio now owns 125,900 shares of the financial services provider’s stock worth $4,334,000 after acquiring an additional 47,900 shares in the last quarter. Louisiana State Employees Retirement System bought a new position in NexPoint Residential Trust in the fourth quarter valued at $401,000. Federated Hermes Inc. raised its position in NexPoint Residential Trust by 12.3% during the fourth quarter. Federated Hermes Inc. now owns 8,059 shares of the financial services provider’s stock valued at $277,000 after purchasing an additional 884 shares in the last quarter. Finally, Quest Partners LLC bought a new stake in NexPoint Residential Trust during the fourth quarter worth about $140,000. Hedge funds and other institutional investors 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.