NexPoint Residential Trust (NYSE:NXRT) Upgraded by StockNews.com to “Hold” Rating

StockNews.com upgraded shares of NexPoint Residential Trust (NYSE:NXRT) from a sell rating to a hold rating in a research report released on Thursday.

A number of other equities analysts have also issued reports on NXRT. Raymond James raised NexPoint Residential Trust from a “market perform” rating to an “outperform” rating and set a $50.00 price objective for the company in a report on Monday, October 21st. Truist Financial upped their price objective 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. Finally, Deutsche Bank Aktiengesellschaft raised 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 note on Tuesday, September 10th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, NexPoint Residential Trust has a consensus rating of “Hold” and a consensus target price of $46.83.

NexPoint Residential Trust Price Performance

Shares of NYSE:NXRT opened at $45.82 on Thursday. The company has a market cap of $1.16 billion, a PE ratio of 26.18, a P/E/G ratio of 2.75 and a beta of 1.40. NexPoint Residential Trust has a fifty-two week low of $28.20 and a fifty-two week high of $48.37. The firm has a 50-day simple moving average of $44.73 and a 200 day simple moving average of $42.91. 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 announced its quarterly earnings results on Tuesday, October 29th. The financial services provider reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $64.10 million for the quarter, compared to analyst estimates of $64.69 million. During the same quarter in the previous year, the company posted $0.76 earnings per share. On average, sell-side analysts anticipate that NexPoint Residential Trust will post 2.78 EPS for the current year.

NexPoint Residential Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be given a $0.51 dividend. This is a positive change from NexPoint Residential Trust’s previous quarterly dividend of $0.46. The ex-dividend date is Friday, December 13th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 4.45%. NexPoint Residential Trust’s dividend payout ratio (DPR) is 105.71%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in NXRT. Valley Wealth Managers Inc. purchased a new position in NexPoint Residential Trust during the 3rd quarter worth approximately $27,000. Point72 DIFC Ltd acquired a new stake in NexPoint Residential Trust during the 2nd quarter worth about $32,000. Mirae Asset Global Investments Co. Ltd. increased 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 valued at $39,000 after purchasing an additional 232 shares during the period. Signaturefd LLC lifted its position in shares of NexPoint Residential Trust by 238.4% in the second quarter. Signaturefd LLC now owns 1,039 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 732 shares in the last quarter. Finally, Meeder Asset Management Inc. acquired a new stake in shares of NexPoint Residential Trust during the third quarter worth approximately $42,000. 76.61% of the stock is owned by hedge funds and other 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.