NexPoint Residential Trust (NYSE:NXRT) Downgraded by StockNews.com to “Sell”

StockNews.com downgraded shares of NexPoint Residential Trust (NYSE:NXRT) from a hold rating to a sell rating in a research note issued to investors on Monday morning.

Several other equities analysts have also recently commented on the stock. JMP Securities boosted their price objective on shares of NexPoint Residential Trust from $40.00 to $50.00 and gave the company a “market outperform” rating in a research note on Friday, August 2nd. Truist Financial boosted their price objective on shares of NexPoint Residential Trust from $37.00 to $46.00 and gave the company a “hold” rating in a research note on Tuesday, August 27th. Compass Point lifted their target price on shares of NexPoint Residential Trust from $45.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft lifted their target price on shares of NexPoint Residential Trust from $38.00 to $44.00 and gave the company a “hold” rating in a research report on Tuesday, September 10th. Finally, Raymond James upgraded shares of NexPoint Residential Trust from a “market perform” rating to an “outperform” rating and set a $50.00 target price for the company in a research report on Monday, October 21st. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $46.83.

NexPoint Residential Trust Price Performance

NXRT opened at $46.50 on Monday. The firm has a 50-day moving average price of $44.14 and a 200-day moving average price of $41.15. The company has a market capitalization of $1.18 billion, a price-to-earnings ratio of 26.57, a PEG ratio of 1.40 and a beta of 1.37. NexPoint Residential Trust has a twelve month low of $28.20 and a twelve month high of $48.37. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 3.25.

NexPoint Residential Trust (NYSE:NXRT) last issued its quarterly earnings data on Tuesday, October 29th. The financial services provider reported ($0.35) EPS for the quarter, missing the consensus estimate of $0.66 by ($1.01). The firm had revenue of $64.10 million for the quarter, compared to analysts’ expectations of $64.69 million. NexPoint Residential Trust had a net margin of 17.54% and a return on equity of 9.54%. During the same period in the prior year, the firm posted $0.76 EPS. Equities analysts expect that NexPoint Residential Trust will post 2.78 EPS for the current year.

NexPoint Residential Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 4.39%. This is a positive change from NexPoint Residential Trust’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Friday, December 13th. NexPoint Residential Trust’s payout ratio is presently 105.71%.

Institutional Investors Weigh In On NexPoint Residential Trust

A number of hedge funds have recently made changes to their positions in NXRT. Valley Wealth Managers Inc. bought a new stake in shares of NexPoint Residential Trust in the 3rd quarter worth approximately $27,000. Point72 DIFC Ltd bought a new stake in shares of NexPoint Residential Trust in the 2nd quarter worth approximately $32,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of NexPoint Residential Trust by 34.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 900 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 232 shares during the last quarter. Signaturefd LLC lifted its holdings in shares of NexPoint Residential Trust by 238.4% in the 2nd quarter. Signaturefd LLC now owns 1,039 shares of the financial services provider’s stock worth $41,000 after acquiring an additional 732 shares during the last quarter. Finally, Meeder Asset Management Inc. bought a new stake in shares of NexPoint Residential Trust in the 3rd quarter worth approximately $42,000. 76.61% of the stock is currently owned by institutional investors.

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.