Brokerages Set NexPoint Residential Trust Inc (NYSE:NXRT) Price Target at $47.42

NexPoint Residential Trust Inc (NYSE:NXRT) has earned a consensus rating of “Buy” from the eight brokerages that are currently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $47.42.

A number of research firms recently weighed in on NXRT. Compass Point raised shares of NexPoint Residential Trust from a “neutral” rating to a “buy” rating and set a $46.50 price target for the company in a report on Wednesday, July 31st. Raymond James raised their price target on shares of NexPoint Residential Trust to $51.00 and gave the company a “strong-buy” rating in a report on Monday, August 19th. Robert W. Baird began coverage on shares of NexPoint Residential Trust in a report on Friday, September 20th. They set an “outperform” rating and a $50.00 price target for the company. Zacks Investment Research raised shares of NexPoint Residential Trust from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a report on Tuesday, September 17th. Finally, ValuEngine lowered shares of NexPoint Residential Trust from a “buy” rating to a “hold” rating in a report on Wednesday.

In other news, insider James D. Dondero purchased 500,000 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The stock was acquired at an average cost of $41.19 per share, with a total value of $20,595,000.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 21.49% of the stock is currently owned by company insiders.

A number of hedge funds have recently made changes to their positions in the business. Stephens Inc. AR grew its holdings in NexPoint Residential Trust by 2.9% during the 2nd quarter. Stephens Inc. AR now owns 13,898 shares of the financial services provider’s stock worth $575,000 after acquiring an additional 396 shares in the last quarter. Royal Bank of Canada grew its holdings in NexPoint Residential Trust by 35.5% during the 2nd quarter. Royal Bank of Canada now owns 2,305 shares of the financial services provider’s stock worth $95,000 after acquiring an additional 604 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in NexPoint Residential Trust by 4.9% during the 2nd quarter. Envestnet Asset Management Inc. now owns 14,303 shares of the financial services provider’s stock worth $592,000 after acquiring an additional 665 shares in the last quarter. First Trust Advisors LP boosted its holdings in shares of NexPoint Residential Trust by 1.7% in the 1st quarter. First Trust Advisors LP now owns 42,037 shares of the financial services provider’s stock valued at $1,612,000 after buying an additional 695 shares during the period. Finally, A.R.T. Advisors LLC boosted its holdings in shares of NexPoint Residential Trust by 10.6% in the 2nd quarter. A.R.T. Advisors LLC now owns 7,307 shares of the financial services provider’s stock valued at $303,000 after buying an additional 700 shares during the period. 72.09% of the stock is owned by institutional investors.

Shares of NXRT stock traded up $0.22 during mid-day trading on Wednesday, reaching $48.12. The company’s stock had a trading volume of 171,152 shares, compared to its average volume of 92,469. The company’s 50 day simple moving average is $46.45 and its 200-day simple moving average is $41.71. NexPoint Residential Trust has a 12-month low of $32.25 and a 12-month high of $48.97. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 3.60. The firm has a market capitalization of $1.15 billion, a PE ratio of 25.60, a price-to-earnings-growth ratio of 2.46 and a beta of 0.39.

NexPoint Residential Trust (NYSE:NXRT) last issued its earnings results on Tuesday, July 30th. The financial services provider reported ($0.08) EPS for the quarter, missing the Zacks’ consensus estimate of $0.46 by ($0.54). The business had revenue of $43.07 million during the quarter, compared to analysts’ expectations of $43.05 million. NexPoint Residential Trust had a negative net margin of 10.21% and a negative return on equity of 6.07%. As a group, research analysts anticipate that NexPoint Residential Trust will post 1.97 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date of this dividend was Thursday, September 12th. NexPoint Residential Trust’s payout ratio is 58.51%.

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.

Featured Article: What is meant by buying and selling pressure?

Analyst Recommendations for NexPoint Residential Trust (NYSE:NXRT)

Receive News & Ratings for NexPoint Residential Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NexPoint Residential Trust and related companies with MarketBeat.com's FREE daily email newsletter.