NexPoint Residential Trust (NYSE:NXRT) Downgraded by StockNews.com to “Sell”

StockNews.com cut shares of NexPoint Residential Trust (NYSE:NXRT) from a hold rating to a sell rating in a report released on Thursday morning.

Separately, Raymond James upgraded shares of NexPoint Residential Trust from a “market perform” rating to an “outperform” rating and set a $50.00 target price for the company in a report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, NexPoint Residential Trust presently has a consensus rating of “Hold” and an average price target of $49.00.

NexPoint Residential Trust Trading Up 2.1 %

NYSE:NXRT opened at $40.67 on Thursday. The firm has a market capitalization of $1.03 billion, a P/E ratio of 23.24, a P/E/G ratio of 2.40 and a beta of 1.42. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 3.25. The company has a fifty day moving average of $41.06 and a 200 day moving average of $43.44. NexPoint Residential Trust has a 52 week low of $28.20 and a 52 week high of $48.37.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in NXRT. Copeland Capital Management LLC lifted its position in shares of NexPoint Residential Trust by 0.9% in the 4th quarter. Copeland Capital Management LLC now owns 909,758 shares of the financial services provider’s stock worth $37,982,000 after purchasing an additional 8,072 shares during the period. Geode Capital Management LLC lifted its holdings in NexPoint Residential Trust by 0.5% in the third quarter. Geode Capital Management LLC now owns 576,084 shares of the financial services provider’s stock worth $25,358,000 after buying an additional 2,740 shares during the period. Charles Schwab Investment Management Inc. boosted its position in NexPoint Residential Trust by 1.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 338,512 shares of the financial services provider’s stock valued at $14,133,000 after acquiring an additional 5,832 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of NexPoint Residential Trust by 2.6% during the 4th quarter. Bank of New York Mellon Corp now owns 221,219 shares of the financial services provider’s stock worth $9,236,000 after acquiring an additional 5,618 shares during the period. Finally, Invesco Ltd. raised its position in shares of NexPoint Residential Trust by 4.2% in the 4th quarter. Invesco Ltd. now owns 201,540 shares of the financial services provider’s stock worth $8,414,000 after acquiring an additional 8,052 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.