NexPoint Residential Trust (NYSE:NXRT) Given “Market Perform” Rating at JMP Securities

JMP Securities reaffirmed their market perform rating on shares of NexPoint Residential Trust (NYSE:NXRT) in a research note published on Monday,Benzinga reports.

Other equities analysts have also issued reports about the stock. Raymond James lowered shares of NexPoint Residential Trust from an “outperform” rating to a “market perform” rating in a research report on Thursday, May 15th. Compass Point reaffirmed a “neutral” rating and set a $42.50 target price (down from $50.00) on shares of NexPoint Residential Trust in a research report on Tuesday, May 13th. 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 research report on Monday, March 10th. StockNews.com lowered shares of NexPoint Residential Trust from a “hold” rating to a “sell” rating in a research 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 stock a “hold” rating in a research report on Monday, March 10th. One investment analyst has rated the stock with a sell rating and seven have given a hold rating to the stock. According to data from MarketBeat.com, NexPoint Residential Trust currently has an average rating of “Hold” and an average target price of $44.25.

NexPoint Residential Trust Stock Down 2.5%

Shares of NYSE NXRT opened at $36.09 on Monday. 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 company has a market cap of $912.54 million, a P/E ratio of 20.62, a PEG ratio of 2.34 and a beta of 1.14. NexPoint Residential Trust has a 1 year low of $30.98 and a 1 year high of $48.37. The firm has a 50-day simple moving average of $37.07 and a two-hundred day simple moving average of $40.34.

NexPoint Residential Trust (NYSE:NXRT) last announced its quarterly earnings data on Tuesday, April 29th. The financial services provider reported $0.84 earnings per share (EPS) 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 net margin of 17.54% and a return on equity of 9.54%. Research analysts anticipate that NexPoint Residential Trust will post 2.86 earnings per share for the current year.

NexPoint Residential Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 5.65%. The ex-dividend date of this dividend is Monday, June 16th. NexPoint Residential Trust’s payout ratio is -159.37%.

Insider Activity at NexPoint Residential Trust

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

Hedge Funds Weigh In On NexPoint Residential Trust

Several institutional investors and hedge funds have recently bought and sold shares of NXRT. SG Americas Securities LLC grew its holdings in NexPoint Residential Trust by 3.7% in the fourth quarter. SG Americas Securities LLC now owns 16,249 shares of the financial services provider’s stock worth $678,000 after purchasing an additional 579 shares during the last quarter. Copeland Capital Management LLC grew its holdings in NexPoint Residential Trust by 0.9% in the fourth quarter. Copeland Capital Management LLC now owns 909,758 shares of the financial services provider’s stock worth $37,982,000 after purchasing an additional 8,072 shares during the last quarter. abrdn plc grew its holdings in NexPoint Residential Trust by 30.6% in the fourth quarter. abrdn plc now owns 6,068 shares of the financial services provider’s stock worth $251,000 after purchasing an additional 1,423 shares during the last quarter. Van ECK Associates Corp grew its holdings in NexPoint Residential Trust by 8.6% in the fourth quarter. Van ECK Associates Corp now owns 4,237 shares of the financial services provider’s stock worth $177,000 after purchasing an additional 336 shares during the last quarter. Finally, Asset Management One Co. Ltd. grew its holdings in NexPoint Residential Trust by 5.1% in the fourth quarter. Asset Management One Co. Ltd. now owns 34,065 shares of the financial services provider’s stock worth $1,419,000 after purchasing an additional 1,658 shares during the last quarter. 76.61% of the stock is owned by hedge funds and other institutional investors.

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.