A number of other brokerages also recently issued reports on NXRT. ValuEngine upgraded NexPoint Residential Trust from a hold rating to a buy rating in a research note on Wednesday, May 23rd. Jefferies Financial Group assumed coverage on NexPoint Residential Trust in a research note on Monday, June 11th. They set a buy rating and a $32.00 price objective for the company. Finally, Zacks Investment Research downgraded NexPoint Residential Trust from a hold rating to a sell rating in a research note on Thursday, May 3rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus target price of $28.40.
Shares of NexPoint Residential Trust opened at $27.22 on Tuesday, Marketbeat Ratings reports. The company has a market cap of $556.34 million, a P/E ratio of 23.26, a P/E/G ratio of 0.98 and a beta of 0.79. The company has a quick ratio of 3.12, a current ratio of 3.12 and a debt-to-equity ratio of 3.10. NexPoint Residential Trust has a 12-month low of $22.84 and a 12-month high of $29.40.
NexPoint Residential Trust (NYSE:NXRT) last announced its quarterly earnings data on Tuesday, May 1st. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.06. The company had revenue of $35.06 million during the quarter, compared to the consensus estimate of $36.12 million. NexPoint Residential Trust had a return on equity of 28.96% and a net margin of 47.13%. sell-side analysts expect that NexPoint Residential Trust will post 1.65 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Friday, June 15th will be issued a $0.25 dividend. The ex-dividend date is Thursday, June 14th. This represents a $1.00 dividend on an annualized basis and a yield of 3.67%. NexPoint Residential Trust’s dividend payout ratio is presently 85.47%.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Highland Capital Management LP lifted its holdings in NexPoint Residential Trust by 4.1% in the 1st quarter. Highland Capital Management LP now owns 2,305,274 shares of the financial services provider’s stock worth $57,263,000 after purchasing an additional 89,799 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of NexPoint Residential Trust by 13.7% during the 4th quarter. Renaissance Technologies LLC now owns 961,300 shares of the financial services provider’s stock worth $26,859,000 after acquiring an additional 115,600 shares in the last quarter. Millennium Management LLC raised its holdings in shares of NexPoint Residential Trust by 33.6% during the 1st quarter. Millennium Management LLC now owns 637,616 shares of the financial services provider’s stock worth $15,838,000 after acquiring an additional 160,233 shares in the last quarter. Lyon Street Capital LLC raised its holdings in shares of NexPoint Residential Trust by 5.7% during the 1st quarter. Lyon Street Capital LLC now owns 273,479 shares of the financial services provider’s stock worth $6,793,000 after acquiring an additional 14,857 shares in the last quarter. Finally, Boston Partners raised its holdings in shares of NexPoint Residential Trust by 6.1% during the 1st quarter. Boston Partners now owns 230,400 shares of the financial services provider’s stock worth $5,723,000 after acquiring an additional 13,300 shares in the last quarter. 59.67% of the stock is currently owned by 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.
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