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

StockNews.com upgraded shares of NexPoint Residential Trust (NYSE:NXRT) from a sell rating to a hold rating in a research note published on Tuesday.

Other equities analysts also recently issued research reports about the stock. 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. 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 research report on Tuesday, August 27th. 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 research report on Friday, August 2nd. 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 research report on Wednesday, July 31st. Finally, Raymond James raised shares of NexPoint Residential Trust from a “market perform” rating to an “outperform” rating and set a $50.00 price target for the company in a research report on Monday, October 21st. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $46.83.

NexPoint Residential Trust Stock Performance

Shares of NXRT opened at $46.48 on Tuesday. The company has a debt-to-equity ratio of 3.25, a current ratio of 1.79 and a quick ratio of 1.79. NexPoint Residential Trust has a one year low of $28.20 and a one year high of $48.37. The company has a 50-day simple moving average of $44.14 and a two-hundred day simple moving average of $41.80. The firm has a market capitalization of $1.18 billion, a PE ratio of 26.38, a price-to-earnings-growth ratio of 1.53 and a beta of 1.37.

NexPoint Residential Trust (NYSE:NXRT) last announced its 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 net margin of 17.54% and a return on equity of 9.54%. The business had revenue of $64.10 million for the quarter, compared to the consensus estimate of $64.69 million. During the same period in the prior year, the business posted $0.76 EPS. On average, analysts anticipate that NexPoint Residential Trust will post 2.78 EPS for the current fiscal year.

NexPoint Residential Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 4.39%. The ex-dividend date of this dividend is Friday, December 13th. This is a boost from NexPoint Residential Trust’s previous quarterly dividend of $0.46. NexPoint Residential Trust’s dividend payout ratio (DPR) is currently 116.57%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of NXRT. Long Pond Capital LP purchased a new position in shares of NexPoint Residential Trust during the 2nd quarter valued at $24,273,000. Foundry Partners LLC purchased a new stake in NexPoint Residential Trust in the 3rd quarter worth $6,341,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in NexPoint Residential Trust by 386.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 126,755 shares of the financial services provider’s stock worth $5,578,000 after purchasing an additional 100,714 shares in the last quarter. Jane Street Group LLC lifted its stake in 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 worth $2,554,000 after purchasing an additional 35,741 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in 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 in the last quarter. Hedge funds and other institutional investors own 76.61% of the company’s stock.

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.