Brokerages Set NexPoint Residential Trust, Inc. (NYSE:NXRT) Target Price at $37.75

Shares of NexPoint Residential Trust, Inc. (NYSE:NXRT) have earned an average recommendation of “Hold” from the five ratings firms that are presently covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $37.75.

Several analysts have weighed in on NXRT shares. Raymond James raised NexPoint Residential Trust from an “underperform” rating to a “market perform” rating in a research note on Friday, May 24th. JMP Securities reaffirmed a “market outperform” rating and issued a $40.00 price objective on shares of NexPoint Residential Trust in a report on Wednesday, March 6th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $38.00 target price on shares of NexPoint Residential Trust in a research note on Tuesday, June 11th. Finally, Truist Financial upped their price target on shares of NexPoint Residential Trust from $34.00 to $37.00 and gave the stock a “hold” rating in a research note on Monday, June 24th.

NexPoint Residential Trust Price Performance

Shares of NYSE:NXRT opened at $39.46 on Wednesday. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 2.90. The firm’s 50 day moving average is $36.50 and its two-hundred day moving average is $33.37. The firm has a market capitalization of $1.01 billion, a P/E ratio of 13.94, a PEG ratio of 1.17 and a beta of 1.35. NexPoint Residential Trust has a 52 week low of $26.21 and a 52 week high of $49.87.

NexPoint Residential Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were paid a $0.4624 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $1.85 annualized dividend and a dividend yield of 4.69%. This is a boost from NexPoint Residential Trust’s previous quarterly dividend of $0.46. NexPoint Residential Trust’s payout ratio is currently 65.37%.

Insider Activity at NexPoint Residential Trust

In other NexPoint Residential Trust news, insider Brian Mitts sold 2,000 shares of NexPoint Residential Trust stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $39.40, for a total value of $78,800.00. Following the transaction, the insider now owns 65,696 shares in the company, valued at $2,588,422.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 12.96% of the company’s stock.

Institutional Trading of NexPoint Residential Trust

Several institutional investors and hedge funds have recently bought and sold shares of the stock. SRS Capital Advisors Inc. increased its position in shares of NexPoint Residential Trust by 176.1% in the fourth quarter. SRS Capital Advisors Inc. now owns 903 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 576 shares in the last quarter. Van ECK Associates Corp grew its position in NexPoint Residential Trust by 19.7% during the 4th quarter. Van ECK Associates Corp now owns 3,163 shares of the financial services provider’s stock worth $109,000 after purchasing an additional 520 shares in the last quarter. Quest Partners LLC acquired a new stake in NexPoint Residential Trust during the 4th quarter valued at $140,000. Price T Rowe Associates Inc. MD acquired a new stake in NexPoint Residential Trust during the 1st quarter valued at $212,000. Finally, Daiwa Securities Group Inc. lifted its holdings in shares of NexPoint Residential Trust by 8.9% in the first quarter. Daiwa Securities Group Inc. now owns 7,436 shares of the financial services provider’s stock valued at $239,000 after purchasing an additional 610 shares in the last quarter. Institutional investors and hedge funds 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.