NexPoint Residential Trust (NYSE:NXRT) Upgraded at Raymond James

Raymond James upgraded shares of NexPoint Residential Trust (NYSE:NXRT) from a market perform rating to an outperform rating in a research note issued to investors on Monday morning, MarketBeat Ratings reports. The brokerage currently has $50.00 target price on the financial services provider’s stock.

A number of other research analysts have also commented on the stock. Truist Financial upped 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 report on Tuesday, August 27th. Compass Point upped their price objective 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. JMP Securities upped 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 report on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft upped their price objective 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. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $46.83.

NexPoint Residential Trust Trading Down 1.0 %

Shares of NexPoint Residential Trust stock opened at $43.92 on Monday. NexPoint Residential Trust has a 1 year low of $26.21 and a 1 year high of $48.37. The company’s fifty day simple moving average is $44.76 and its 200-day simple moving average is $40.20. The company has a market cap of $1.12 billion, a price-to-earnings ratio of 12.99, a PEG ratio of 1.32 and a beta of 1.37. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 2.96.

NexPoint Residential Trust (NYSE:NXRT) last posted its quarterly earnings results on Tuesday, July 30th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.29). The company had revenue of $64.24 million during the quarter, compared to analyst estimates of $64.99 million. NexPoint Residential Trust had a return on equity of 17.69% and a net margin of 32.93%. During the same quarter in the prior year, the business earned $0.88 earnings per share. As a group, sell-side analysts expect that NexPoint Residential Trust will post 2.82 EPS for the current year.

NexPoint Residential Trust Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were given a $0.462 dividend. This represents a $1.85 annualized dividend and a yield of 4.21%. The ex-dividend date of this dividend was Friday, September 13th. NexPoint Residential Trust’s dividend payout ratio (DPR) is presently 54.73%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Point72 DIFC Ltd bought a new stake in NexPoint Residential Trust during the second quarter worth about $32,000. Mirae Asset Global Investments Co. Ltd. grew its stake in NexPoint Residential Trust by 34.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 900 shares of the financial services provider’s stock worth $39,000 after buying an additional 232 shares during the last quarter. Signaturefd LLC grew its stake in NexPoint Residential Trust by 238.4% during the second quarter. Signaturefd LLC now owns 1,039 shares of the financial services provider’s stock worth $41,000 after buying an additional 732 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in NexPoint Residential Trust by 40.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,107 shares of the financial services provider’s stock worth $123,000 after buying an additional 900 shares during the last quarter. Finally, Van ECK Associates Corp grew its stake in NexPoint Residential Trust by 7.3% during the second quarter. Van ECK Associates Corp now owns 3,473 shares of the financial services provider’s stock worth $137,000 after buying an additional 236 shares during the last quarter. Institutional investors and hedge funds own 76.61% of the company’s stock.

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.