NexPoint Residential Trust (NYSE:NXRT) Reaches New 1-Year High at $46.21

NexPoint Residential Trust, Inc. (NYSE:NXRT) shares reached a new 52-week high on Monday . The company traded as high as $46.21 and last traded at $46.21, with a volume of 1498 shares trading hands. The stock had previously closed at $45.66.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on NXRT shares. Raymond James raised shares of NexPoint Residential Trust from an “underperform” rating to a “market perform” rating in a report on Friday, May 24th. Truist Financial raised their price target on shares of NexPoint Residential Trust from $37.00 to $46.00 and gave the company a “hold” rating in a report on Tuesday. Compass Point raised their price target on shares of NexPoint Residential Trust from $45.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. JMP Securities raised their price target on shares of NexPoint Residential Trust from $40.00 to $50.00 and gave the company a “market outperform” rating in a report on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $38.00 price target on shares of NexPoint Residential Trust in a report on Tuesday, June 11th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $45.00.

NexPoint Residential Trust Stock Performance

The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of 16.41, a price-to-earnings-growth ratio of 1.31 and a beta of 1.35. The company has a debt-to-equity ratio of 2.96, a quick ratio of 2.66 and a current ratio of 2.00. The company’s fifty day simple moving average is $41.71 and its two-hundred day simple moving average is $36.09.

NexPoint Residential Trust (NYSE:NXRT) last announced its quarterly earnings data on Tuesday, July 30th. The financial services provider reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.69 by ($0.29). NexPoint Residential Trust had a return on equity of 17.69% and a net margin of 32.93%. The company had revenue of $64.24 million for the quarter, compared to analyst estimates of $64.99 million. During the same period in the prior year, the business earned $0.88 earnings per share. Equities research analysts predict that NexPoint Residential Trust, Inc. will post 2.86 earnings per share for the current fiscal year.

NexPoint Residential Trust Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be issued a $0.462 dividend. This represents a $1.85 annualized dividend and a dividend yield of 3.98%. The ex-dividend date is Friday, September 13th. NexPoint Residential Trust’s dividend payout ratio (DPR) is presently 65.37%.

Insider Activity

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

Institutional Trading of NexPoint Residential Trust

Several hedge funds have recently bought and sold shares of the company. Long Pond Capital LP bought a new stake in shares of NexPoint Residential Trust during the 2nd quarter worth about $24,273,000. Dimensional Fund Advisors LP grew its stake in shares of NexPoint Residential Trust by 7.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 339,138 shares of the financial services provider’s stock worth $13,399,000 after purchasing an additional 23,888 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of NexPoint Residential Trust by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 302,269 shares of the financial services provider’s stock worth $10,407,000 after purchasing an additional 8,959 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of NexPoint Residential Trust by 4.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 244,264 shares of the financial services provider’s stock worth $9,651,000 after purchasing an additional 9,297 shares during the last quarter. Finally, BOKF NA grew its stake in shares of NexPoint Residential Trust by 0.4% in the 2nd quarter. BOKF NA now owns 177,320 shares of the financial services provider’s stock worth $7,006,000 after purchasing an additional 741 shares during the last quarter. 76.61% of the stock is currently owned by 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.