NexPoint Residential Trust (NYSE:NXRT) Upgraded to “Hold” at StockNews.com

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

Several other research firms have also recently commented on NXRT. Raymond James raised shares of NexPoint Residential Trust from a “market perform” rating to an “outperform” rating and set a $50.00 target price on the stock in a research report on Monday, October 21st. Truist Financial lifted their target price on shares of NexPoint Residential Trust from $37.00 to $46.00 and gave the stock a “hold” rating in a research report on Tuesday, August 27th. Compass Point lifted their target price on shares of NexPoint Residential Trust from $45.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft lifted their target price on shares of NexPoint Residential Trust from $38.00 to $44.00 and gave the stock a “hold” rating in a research report on Tuesday, September 10th. Finally, JMP Securities upped their price objective on NexPoint Residential Trust from $40.00 to $50.00 and gave the company 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 issued a buy rating to the company’s stock. According to data from MarketBeat.com, NexPoint Residential Trust currently has an average rating of “Hold” and an average price target of $46.83.

NexPoint Residential Trust Stock Performance

Shares of NXRT opened at $46.48 on Tuesday. The company has a debt-to-equity ratio of 3.25, a current ratio of 1.79 and a quick ratio of 1.79. The stock has a 50-day moving average of $44.14 and a 200-day moving average of $41.80. The company has a market cap of $1.18 billion, a PE ratio of 26.38, a P/E/G ratio of 1.53 and a beta of 1.37. NexPoint Residential Trust has a one year low of $28.20 and a one year high of $48.37.

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

NexPoint Residential Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be issued a $0.51 dividend. The ex-dividend date is Friday, December 13th. This represents a $2.04 annualized dividend and a dividend yield of 4.39%. This is a boost from NexPoint Residential Trust’s previous quarterly dividend of $0.46. NexPoint Residential Trust’s dividend payout ratio is presently 116.57%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in NXRT. Sei Investments Co. increased its stake in NexPoint Residential Trust by 11.2% in the first quarter. Sei Investments Co. now owns 27,921 shares of the financial services provider’s stock valued at $899,000 after acquiring an additional 2,803 shares during the last quarter. Russell Investments Group Ltd. increased its stake in NexPoint Residential Trust by 4.0% in the first quarter. Russell Investments Group Ltd. now owns 47,511 shares of the financial services provider’s stock valued at $1,529,000 after acquiring an additional 1,815 shares during the last quarter. State Board of Administration of Florida Retirement System grew its stake in shares of NexPoint Residential Trust by 53.1% during the first quarter. State Board of Administration of Florida Retirement System now owns 9,860 shares of the financial services provider’s stock valued at $317,000 after buying an additional 3,420 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its stake in shares of NexPoint Residential Trust by 1.0% during the first quarter. CANADA LIFE ASSURANCE Co now owns 47,286 shares of the financial services provider’s stock valued at $1,521,000 after buying an additional 477 shares during the last quarter. Finally, BOKF NA grew its stake in shares of NexPoint Residential Trust by 3.1% during the first quarter. BOKF NA now owns 176,579 shares of the financial services provider’s stock valued at $5,575,000 after buying an additional 5,248 shares during the last quarter. 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.