Truist Financial Forecasts Strong Price Appreciation for NexPoint Residential Trust (NYSE:NXRT) Stock

NexPoint Residential Trust (NYSE:NXRT) had its price objective hoisted by Truist Financial from $41.00 to $42.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “hold” rating on the financial services provider’s stock. Truist Financial’s target price points to a potential upside of 2.44% from the stock’s previous close.

Separately, StockNews.com lowered NexPoint Residential Trust from a “hold” rating to a “sell” rating in a research note on Saturday, March 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $48.20.

NexPoint Residential Trust Price Performance

NXRT traded up $0.34 during trading on Monday, reaching $41.00. The company’s stock had a trading volume of 2,281 shares, compared to its average volume of 106,562. The company has a market cap of $1.04 billion, a price-to-earnings ratio of 23.51, a PEG ratio of 2.34 and a beta of 1.43. The firm has a fifty day simple moving average of $39.85 and a two-hundred day simple moving average of $43.01. NexPoint Residential Trust has a 1 year low of $29.01 and a 1 year 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.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Jane Street Group LLC lifted its stake in shares of NexPoint Residential Trust by 160.3% in the 3rd quarter. Jane Street Group LLC now owns 58,040 shares of the financial services provider’s stock valued at $2,554,000 after purchasing an additional 35,741 shares during the last quarter. Geode Capital Management LLC raised its holdings in NexPoint Residential Trust by 0.5% in the 3rd 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 during the period. Franklin Resources Inc. lifted its position 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 during the last quarter. JPMorgan Chase & Co. boosted its stake in NexPoint Residential Trust by 16.7% during the third quarter. JPMorgan Chase & Co. now owns 117,090 shares of the financial services provider’s stock worth $5,153,000 after buying an additional 16,746 shares during the period. Finally, BNP Paribas Financial Markets boosted its stake in NexPoint Residential Trust by 23.4% during the third quarter. BNP Paribas Financial Markets now owns 7,348 shares of the financial services provider’s stock worth $323,000 after buying an additional 1,393 shares during the period. 76.61% of the stock is currently owned by hedge funds and other 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.