NexPoint Residential Trust (NYSE:NXRT) Price Target Raised to $46.00

NexPoint Residential Trust (NYSE:NXRT) had its price objective lifted by research analysts at Truist Financial from $37.00 to $46.00 in a report released on Tuesday, Benzinga reports. The firm currently has a “hold” rating on the financial services provider’s stock. Truist Financial’s target price would suggest a potential upside of 0.17% from the company’s current price.

A number of other research analysts have also weighed in on the stock. JMP Securities raised their price objective on shares of 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. Compass Point raised 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 report on Wednesday, July 31st. Raymond James raised NexPoint Residential Trust from an “underperform” rating to a “market perform” rating in a report on Friday, May 24th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $38.00 price objective on shares of NexPoint Residential Trust in a research note on Tuesday, June 11th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, NexPoint Residential Trust currently has an average rating of “Hold” and a consensus target price of $45.00.

NexPoint Residential Trust Stock Performance

Shares of NexPoint Residential Trust stock opened at $45.92 on Tuesday. The business has a 50-day simple moving average of $41.52 and a 200 day simple moving average of $35.98. NexPoint Residential Trust has a one year low of $26.21 and a one year high of $46.37. The company has a debt-to-equity ratio of 2.96, a current ratio of 2.00 and a quick ratio of 2.66. The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of 16.23, a PEG ratio of 1.31 and a beta of 1.35.

NexPoint Residential Trust (NYSE:NXRT) last released its quarterly earnings data on Tuesday, July 30th. The financial services provider reported $0.40 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.29). NexPoint Residential Trust had a net margin of 32.93% and a return on equity of 17.69%. The firm had revenue of $64.24 million for the quarter, compared to the consensus estimate of $64.99 million. During the same quarter in the prior year, the firm earned $0.88 EPS. On average, research analysts anticipate that NexPoint Residential Trust will post 2.86 earnings per share for the current fiscal year.

Insider Transactions at NexPoint Residential Trust

In other NexPoint Residential Trust news, insider Brian Mitts sold 2,000 shares of the company’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $39.40, for a total value of $78,800.00. Following the completion of the transaction, the insider now owns 65,696 shares in the company, valued at approximately $2,588,422.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 12.96% of the company’s stock.

Institutional Trading of NexPoint Residential Trust

Hedge funds have recently added to or reduced their stakes in the stock. Long Pond Capital LP bought a new stake in shares of NexPoint Residential Trust in the second quarter valued at $24,273,000. Dimensional Fund Advisors LP raised its stake in NexPoint Residential Trust by 7.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 339,138 shares of the financial services provider’s stock valued at $13,399,000 after acquiring an additional 23,888 shares during the period. Charles Schwab Investment Management Inc. raised its stake in NexPoint Residential Trust by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 302,269 shares of the financial services provider’s stock valued at $10,407,000 after acquiring an additional 8,959 shares during the period. Bank of New York Mellon Corp lifted its holdings in NexPoint Residential Trust by 4.0% during the second quarter. Bank of New York Mellon Corp now owns 244,264 shares of the financial services provider’s stock valued at $9,651,000 after purchasing an additional 9,297 shares during the last quarter. Finally, BOKF NA boosted its position in NexPoint Residential Trust by 0.4% during the second quarter. BOKF NA now owns 177,320 shares of the financial services provider’s stock worth $7,006,000 after purchasing an additional 741 shares during the period. Institutional investors own 76.61% of the company’s stock.

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.