NexPoint Residential Trust (NYSE:NXRT) Price Target Lowered to $44.00 at Raymond James

NexPoint Residential Trust (NYSE:NXRT) had its target price cut by equities researchers at Raymond James from $50.00 to $44.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the financial services provider’s stock. Raymond James’ price target points to a potential upside of 13.40% from the stock’s current price.

NXRT has been the topic of a number of other reports. Jefferies Financial Group raised their price target on NexPoint Residential Trust from $41.00 to $43.00 and gave the stock a “hold” rating in a research note on Monday, March 10th. StockNews.com cut NexPoint Residential Trust from a “hold” rating to a “sell” rating in a report on Saturday, March 1st. Finally, Truist Financial increased their target price on NexPoint Residential Trust from $41.00 to $42.00 and gave the stock a “hold” rating in a research report on Monday, March 10th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $46.33.

NexPoint Residential Trust Stock Performance

NYSE:NXRT traded down $0.03 during mid-day trading on Thursday, reaching $38.80. The company’s stock had a trading volume of 6,488 shares, compared to its average volume of 121,030. The firm’s fifty day moving average price is $39.62 and its two-hundred day moving average price is $42.64. NexPoint Residential Trust has a 12-month low of $29.48 and a 12-month high of $48.37. The stock has a market cap of $988.08 million, a P/E ratio of 22.17, a PEG ratio of 2.34 and a beta of 1.43. The company has a current ratio of 1.79, a quick 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. Snowden Capital Advisors LLC boosted its stake in NexPoint Residential Trust by 7.4% in the 4th quarter. Snowden Capital Advisors LLC now owns 9,810 shares of the financial services provider’s stock worth $410,000 after purchasing an additional 677 shares in the last quarter. Quantinno Capital Management LP lifted its holdings in shares of NexPoint Residential Trust by 13.3% in the 4th quarter. Quantinno Capital Management LP now owns 6,863 shares of the financial services provider’s stock valued at $287,000 after buying an additional 804 shares during the period. Millennium Management LLC lifted its holdings in shares of NexPoint Residential Trust by 194.3% in the 4th quarter. Millennium Management LLC now owns 284,292 shares of the financial services provider’s stock valued at $11,869,000 after buying an additional 187,680 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of NexPoint Residential Trust by 2.1% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,708 shares of the financial services provider’s stock worth $531,000 after buying an additional 266 shares during the last quarter. Finally, Janus Henderson Group PLC grew its holdings in NexPoint Residential Trust by 17.8% during the fourth quarter. Janus Henderson Group PLC now owns 14,774 shares of the financial services provider’s stock worth $617,000 after acquiring an additional 2,232 shares during the period. 76.61% of the stock is owned by institutional investors and hedge funds.

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.