Brokerages Set NexPoint Residential Trust, Inc. (NYSE:NXRT) PT at $46.83

Shares of NexPoint Residential Trust, Inc. (NYSE:NXRT) have been given an average recommendation of “Moderate Buy” by the six ratings firms that are presently covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $46.83.

Several brokerages have recently weighed in on NXRT. StockNews.com upgraded shares of NexPoint Residential Trust from a “sell” rating to a “hold” rating in a research note on Tuesday, November 19th. JMP Securities increased their price target on shares of NexPoint Residential Trust from $40.00 to $50.00 and gave the stock a “market outperform” rating in a report on Friday, August 2nd. Raymond James raised shares of NexPoint Residential Trust from a “market perform” rating to an “outperform” rating and set a $50.00 price target for the company in a report on Monday, October 21st. Deutsche Bank Aktiengesellschaft increased their price target on shares of NexPoint Residential Trust from $38.00 to $44.00 and gave the stock a “hold” rating in a report on Tuesday, September 10th. Finally, Truist Financial increased their price target on shares of NexPoint Residential Trust from $37.00 to $46.00 and gave the stock a “hold” rating in a report on Tuesday, August 27th.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Franklin Resources Inc. increased its holdings in NexPoint Residential Trust by 164.0% in the third quarter. Franklin Resources Inc. now owns 34,865 shares of the financial services provider’s stock valued at $1,506,000 after buying an additional 21,660 shares in the last quarter. Tidal Investments LLC purchased a new position in NexPoint Residential Trust in the third quarter valued at about $1,166,000. Geode Capital Management LLC increased its holdings in NexPoint Residential Trust by 0.5% in the third quarter. Geode Capital Management LLC now owns 576,084 shares of the financial services provider’s stock valued at $25,358,000 after buying an additional 2,740 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in NexPoint Residential Trust by 4.0% in the third quarter. Nomura Asset Management Co. Ltd. now owns 28,530 shares of the financial services provider’s stock valued at $1,256,000 after buying an additional 1,100 shares in the last quarter. Finally, Jane Street Group LLC increased its stake in shares of NexPoint Residential Trust by 160.3% during the 3rd quarter. Jane Street Group LLC now owns 58,040 shares of the financial services provider’s stock worth $2,554,000 after purchasing an additional 35,741 shares in the last quarter. 76.61% of the stock is owned by hedge funds and other institutional investors.

NexPoint Residential Trust Price Performance

Shares of NXRT opened at $47.07 on Friday. NexPoint Residential Trust has a fifty-two week low of $28.20 and a fifty-two week high of $48.37. The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of 26.90, a price-to-earnings-growth ratio of 2.85 and a beta of 1.37. The firm has a 50-day simple moving average of $44.32 and a 200-day simple moving average of $42.29. 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 announced its earnings results on Tuesday, October 29th. The financial services provider reported ($0.35) earnings per share for the quarter, missing the consensus estimate of $0.66 by ($1.01). NexPoint Residential Trust had a return on equity of 9.54% and a net margin of 17.54%. The business had revenue of $64.10 million for the quarter, compared to analyst estimates of $64.69 million. During the same quarter last year, the company posted $0.76 EPS. On average, equities research analysts anticipate that NexPoint Residential Trust will post 2.78 earnings per share for the current year.

NexPoint Residential Trust Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be issued a $0.51 dividend. The ex-dividend date is Friday, December 13th. This is a boost from NexPoint Residential Trust’s previous quarterly dividend of $0.46. This represents a $2.04 dividend on an annualized basis and a yield of 4.33%. NexPoint Residential Trust’s dividend payout ratio (DPR) is 105.71%.

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.