Raymond James Downgrades NexPoint Residential Trust (NYSE:NXRT) to Market Perform

NexPoint Residential Trust (NYSE:NXRT) was downgraded by stock analysts at Raymond James from an “outperform” rating to a “market perform” rating in a note issued to investors on Thursday, Marketbeat.com reports.

A number of other research firms also recently issued reports on NXRT. Truist Financial lifted their target price on NexPoint Residential Trust from $41.00 to $42.00 and gave the company a “hold” rating in a research report on Monday, March 10th. Compass Point reaffirmed a “neutral” rating and set a $42.50 price target (down previously from $50.00) on shares of NexPoint Residential Trust in a research report on Tuesday. StockNews.com downgraded NexPoint Residential Trust from a “hold” rating to a “sell” rating in a report on Saturday, March 1st. Finally, Jefferies Financial Group raised their target price on shares of NexPoint Residential Trust from $41.00 to $43.00 and gave the company a “hold” rating in a research note on Monday, March 10th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, NexPoint Residential Trust has an average rating of “Hold” and an average target price of $44.25.

NexPoint Residential Trust Stock Up 1.3%

NYSE:NXRT opened at $36.96 on Thursday. The stock has a 50-day simple moving average of $37.14 and a 200 day simple moving average of $40.39. NexPoint Residential Trust has a 52-week low of $30.98 and a 52-week high of $48.37. The company has a market cap of $934.48 million, a PE ratio of 21.12, a PEG ratio of 2.34 and a beta of 1.14. The company has a debt-to-equity ratio of 3.25, a quick ratio of 1.79 and a current ratio of 1.79.

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

Insider Buying and Selling at NexPoint Residential Trust

In related news, insider Paul Richards acquired 5,814 shares of the business’s stock in a transaction on Monday, April 7th. The stock was purchased at an average cost of $33.24 per share, for a total transaction of $193,257.36. Following the completion of the transaction, the insider now directly owns 18,493 shares of the company’s stock, valued at approximately $614,707.32. The trade was a 45.86% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 15.36% of the company’s stock.

Hedge Funds Weigh In On NexPoint Residential Trust

A number of large investors have recently made changes to their positions in the company. Nexpoint Asset Management L.P. boosted its stake in NexPoint Residential Trust by 100.0% in the 4th quarter. Nexpoint Asset Management L.P. now owns 1,562,753 shares of the financial services provider’s stock valued at $65,245,000 after purchasing an additional 781,266 shares during the period. Copeland Capital Management LLC lifted its holdings in shares of NexPoint Residential Trust by 0.9% during the fourth quarter. Copeland Capital Management LLC now owns 909,758 shares of the financial services provider’s stock worth $37,982,000 after buying an additional 8,072 shares in the last quarter. Northern Trust Corp boosted its position in shares of NexPoint Residential Trust by 4.6% in the first quarter. Northern Trust Corp now owns 455,908 shares of the financial services provider’s stock valued at $18,022,000 after acquiring an additional 19,927 shares during the period. Deutsche Bank AG boosted its position in shares of NexPoint Residential Trust by 2.6% in the fourth quarter. Deutsche Bank AG now owns 381,537 shares of the financial services provider’s stock valued at $15,929,000 after acquiring an additional 9,754 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of NexPoint Residential Trust by 6.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 360,879 shares of the financial services provider’s stock valued at $14,266,000 after acquiring an additional 22,367 shares in 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.