NexPoint Residential Trust, Inc. (NYSE:NXRT) Given Average Recommendation of “Hold” by Brokerages

NexPoint Residential Trust, Inc. (NYSE:NXRT) has received a consensus recommendation of “Hold” from the six ratings firms that are presently covering the stock, MarketBeat reports. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $44.25.

A number of analysts recently weighed in on NXRT shares. Compass Point reiterated a “neutral” rating and issued a $42.50 price target (down from $50.00) on shares of NexPoint Residential Trust in a research report on Tuesday. StockNews.com downgraded shares of NexPoint Residential Trust from a “hold” rating to a “sell” rating in a report on Saturday, March 1st. Jefferies Financial Group raised their target price on shares of NexPoint Residential Trust from $41.00 to $43.00 and gave the stock a “hold” rating in a report on Monday, March 10th. Truist Financial raised their target price on shares of NexPoint Residential Trust from $41.00 to $42.00 and gave the stock a “hold” rating in a report on Monday, March 10th. Finally, Raymond James downgraded shares of NexPoint Residential Trust from an “outperform” rating to a “market perform” rating in a report on Thursday.

Insider Activity at NexPoint Residential Trust

In other news, insider Paul Richards bought 5,814 shares of the firm’s stock in a transaction that occurred on Monday, April 7th. The stock was acquired at an average cost of $33.24 per share, with a total value of $193,257.36. Following the completion of the purchase, the insider now owns 18,493 shares of the company’s stock, valued at $614,707.32. This represents a 45.86% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 15.36% of the stock is owned by company insiders.

Hedge Funds Weigh In On NexPoint Residential Trust

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Millennium Management LLC boosted 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 purchasing an additional 44,391 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in NexPoint Residential Trust by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,281 shares of the financial services provider’s stock worth $525,000 after purchasing an additional 573 shares during the period. Jacobs Levy Equity Management Inc. bought a new position in NexPoint Residential Trust during the first quarter worth $341,000. Focus Partners Advisor Solutions LLC bought a new position in NexPoint Residential Trust during the first quarter worth $285,000. Finally, Royal Bank of Canada boosted its position in NexPoint Residential Trust by 5.7% during the first quarter. Royal Bank of Canada now owns 54,612 shares of the financial services provider’s stock worth $2,159,000 after purchasing an additional 2,942 shares during the period. 76.61% of the stock is owned by institutional investors.

NexPoint Residential Trust Stock Up 1.3%

Shares of NYSE NXRT opened at $36.96 on Friday. The firm has a market capitalization of $934.48 million, a PE ratio of 21.12, a price-to-earnings-growth ratio of 2.34 and a beta of 1.14. The firm’s 50-day moving average is $37.14 and its 200-day moving average is $40.39. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 3.25. NexPoint Residential Trust has a 1 year low of $30.98 and a 1 year high of $48.37.

NexPoint Residential Trust (NYSE:NXRT) last announced its quarterly earnings results on Tuesday, April 29th. The financial services provider reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.06. The business had revenue of $63.22 million for the quarter, compared to the consensus estimate of $63.29 million. NexPoint Residential Trust had a net margin of 17.54% and a return on equity of 9.54%. Equities analysts expect that NexPoint Residential Trust will post 2.86 EPS for the current year.

NexPoint Residential Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be paid 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 5.52%. NexPoint Residential Trust’s dividend payout ratio is presently -159.37%.

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.