Brokerages Set NexPoint Residential Trust, Inc. (NYSE:NXRT) PT at $43.58

NexPoint Residential Trust, Inc. (NYSE:NXRT) has been given a consensus recommendation of “Hold” by the seven research firms that are presently covering the firm, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a hold rating. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $43.58.

NXRT has been the subject of a number of recent research reports. Compass Point reiterated a “neutral” rating and issued a $42.50 target price (down from $50.00) on shares of NexPoint Residential Trust in a report on Tuesday, May 13th. Wall Street Zen cut shares of NexPoint Residential Trust from a “hold” rating to a “sell” rating in a report on Saturday, March 1st. Truist Financial cut their target price on NexPoint Residential Trust from $42.00 to $38.00 and set a “hold” rating on the stock in a research report on Thursday, May 29th. Raymond James Financial lowered NexPoint Residential Trust from an “outperform” rating to a “market perform” rating in a research note on Thursday, May 15th. Finally, JMP Securities reiterated a “market perform” rating on shares of NexPoint Residential Trust in a research note on Monday, May 19th.

Insider Buying and Selling

In related news, insider Paul Richards bought 1,000 shares of the business’s stock in a transaction dated Friday, May 23rd. The stock was acquired at an average price of $33.18 per share, with a total value of $33,180.00. Following the completion of the purchase, the insider now directly owns 19,869 shares of the company’s stock, valued at approximately $659,253.42. This trade represents a 5.30% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 15.36% of the stock is owned by corporate insiders.

Institutional Trading of NexPoint Residential Trust

Several large investors have recently added to or reduced their stakes in the stock. BROOKFIELD Corp ON increased its stake in NexPoint Residential Trust by 109.7% during the first quarter. BROOKFIELD Corp ON now owns 193,982 shares of the financial services provider’s stock worth $7,668,000 after purchasing an additional 101,459 shares during the period. Strs Ohio acquired a new stake in shares of NexPoint Residential Trust during the first quarter worth about $158,000. Jane Street Group LLC acquired a new stake in shares of NexPoint Residential Trust in the 1st quarter valued at about $3,410,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in NexPoint Residential Trust by 5.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 132,034 shares of the financial services provider’s stock worth $5,219,000 after buying an additional 7,217 shares during the last quarter. Finally, Millennium Management LLC increased its position in NexPoint Residential Trust by 15.6% during the first quarter. Millennium Management LLC now owns 328,683 shares of the financial services provider’s stock worth $12,993,000 after buying an additional 44,391 shares during the period. 76.61% of the stock is currently owned by hedge funds and other institutional investors.

NexPoint Residential Trust Price Performance

NXRT stock opened at $33.18 on Wednesday. The company has a fifty day simple moving average of $35.55 and a two-hundred day simple moving average of $38.68. The company has a quick ratio of 2.65, a current ratio of 2.65 and a debt-to-equity ratio of 3.86. The firm has a market capitalization of $838.79 million, a P/E ratio of -25.92, a price-to-earnings-growth ratio of 1.97 and a beta of 1.08. NexPoint Residential Trust has a 52 week low of $30.98 and a 52 week high of $48.37.

NexPoint Residential Trust (NYSE:NXRT) last released its earnings results on Tuesday, April 29th. The financial services provider reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.06. The business had revenue of $63.22 million during the quarter, compared to the consensus estimate of $63.29 million. NexPoint Residential Trust had a negative return on equity of 7.42% and a negative net margin of 12.57%. Analysts anticipate that NexPoint Residential Trust will post 2.86 earnings per share for the current fiscal year.

NexPoint Residential Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be issued a $0.51 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $2.04 annualized dividend and a dividend yield of 6.15%. NexPoint Residential Trust’s dividend payout ratio (DPR) is presently -159.38%.

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.