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

Shares of NexPoint Residential Trust, Inc. (NYSE:NXRT) have been given a consensus recommendation of “Hold” by the seven ratings firms that are currently covering the firm, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold recommendation. The average twelve-month price target among brokers that have covered the stock in the last year is $43.58.

A number of brokerages recently commented on NXRT. Raymond James Financial cut NexPoint Residential Trust from an “outperform” rating to a “market perform” rating in a research note on Thursday, May 15th. JMP Securities reissued a “market perform” rating on shares of NexPoint Residential Trust in a research note on Monday, May 19th. Truist Financial decreased their target price on NexPoint Residential Trust from $42.00 to $38.00 and set a “hold” rating for the company in a research note on Thursday, May 29th. Compass Point reissued a “neutral” rating and issued a $42.50 target price (down from $50.00) on shares of NexPoint Residential Trust in a research note on Tuesday, May 13th. Finally, Jefferies Financial Group boosted their target price on NexPoint Residential Trust from $41.00 to $43.00 and gave the company a “hold” rating in a research note on Monday, March 10th.

Insider Activity at NexPoint Residential Trust

In related news, insider Paul Richards purchased 5,814 shares of NexPoint Residential Trust stock in a transaction that occurred on Monday, April 7th. The shares were acquired at an average price of $33.24 per share, with a total value of $193,257.36. Following the completion of the transaction, the insider directly owned 18,493 shares of the company’s stock, valued at $614,707.32. This represents a 45.86% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders purchased a total of 11,814 shares of company stock valued at $391,037 over the last 90 days. 15.36% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NexPoint Residential Trust

Large investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC grew its position in NexPoint Residential Trust by 4,645.8% during the first quarter. GAMMA Investing LLC now owns 35,261 shares of the financial services provider’s stock worth $1,394,000 after buying an additional 34,518 shares in the last quarter. Bank of America Corp DE lifted its stake in NexPoint Residential Trust by 87.1% during the fourth quarter. Bank of America Corp DE now owns 102,499 shares of the financial services provider’s stock worth $4,279,000 after purchasing an additional 47,714 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in NexPoint Residential Trust during the fourth quarter worth $458,000. Teacher Retirement System of Texas lifted its stake in NexPoint Residential Trust by 226.0% during the fourth quarter. Teacher Retirement System of Texas now owns 22,249 shares of the financial services provider’s stock worth $929,000 after purchasing an additional 15,425 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in NexPoint Residential Trust during the fourth quarter worth $575,000. Institutional investors and hedge funds own 76.61% of the company’s stock.

NexPoint Residential Trust Stock Performance

NXRT opened at $33.99 on Friday. The company has a current ratio of 2.65, a quick ratio of 2.65 and a debt-to-equity ratio of 3.86. NexPoint Residential Trust has a twelve month low of $30.98 and a twelve month high of $48.37. The business’s 50 day moving average is $34.91 and its 200-day moving average is $37.58. The stock has a market cap of $859.44 million, a PE ratio of -26.55, a price-to-earnings-growth ratio of 2.02 and a beta of 1.06.

NexPoint Residential Trust (NYSE:NXRT) last announced its quarterly earnings data on Tuesday, April 29th. The financial services provider reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.06. NexPoint Residential Trust had a negative return on equity of 7.42% and a negative net margin of 12.57%. The business had revenue of $63.22 million during the quarter, compared to analysts’ expectations of $63.29 million. On average, analysts predict that NexPoint Residential Trust will post 2.86 earnings per share for the current year.

NexPoint Residential Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were given a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 6.00%. The ex-dividend date of this dividend was Monday, June 16th. NexPoint Residential Trust’s payout ratio is -159.37%.

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.