Boenning Scattergood initiated coverage on shares of NexPoint Residential Trust (NYSE:NXRT) in a report published on Monday, Marketbeat Ratings reports. The brokerage issued an outperform rating and a $35.00 price target on the financial services provider’s stock.
“We are initiating coverage of NexPoint Residential Trust (NXRT) with an Outperform rating and a price target of $35.00, even though the stock trades at a premium to the peer group and near its 52-week high. What we like about this company is that it has delivered steady growth in NAV, resulting in a high total return to shareholders. It has strong same store sales driven by its value-add renovation program that brings lifestyle amenities to workforce housing. NXRT is externally managed, but fees to the manager are capped and there is no incentive fee. We think the manager’s high level of ownership (>22%) helps align interests of shareholders and manager.”,” the firm’s analyst wrote.
Other equities analysts have also recently issued research reports about the stock. TheStreet cut shares of NexPoint Residential Trust from a b- rating to a c+ rating in a research report on Tuesday, June 19th. ValuEngine cut shares of NexPoint Residential Trust from a buy rating to a hold rating in a research report on Saturday, June 2nd. B. Riley lifted their price objective on shares of NexPoint Residential Trust from $30.00 to $34.00 and gave the stock a buy rating in a research report on Wednesday, August 1st. Zacks Investment Research raised shares of NexPoint Residential Trust from a hold rating to a buy rating and set a $32.00 price objective for the company in a research report on Thursday, July 5th. Finally, Jefferies Financial Group assumed coverage on shares of NexPoint Residential Trust in a research report on Monday, June 11th. They set a buy rating and a $32.00 price objective for the company. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus target price of $32.40.
Shares of NXRT stock opened at $31.82 on Monday. The company has a debt-to-equity ratio of 3.24, a current ratio of 2.77 and a quick ratio of 2.77. NexPoint Residential Trust has a 52 week low of $23.03 and a 52 week high of $33.69. The company has a market capitalization of $667.65 million, a price-to-earnings ratio of 27.78, a price-to-earnings-growth ratio of 1.75 and a beta of 0.81.
NexPoint Residential Trust (NYSE:NXRT) last issued its quarterly earnings results on Tuesday, July 31st. The financial services provider reported ($0.08) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.49). NexPoint Residential Trust had a net margin of 40.64% and a return on equity of 23.89%. The business had revenue of $35.66 million during the quarter, compared to analysts’ expectations of $35.53 million. equities analysts forecast that NexPoint Residential Trust will post 1.71 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Friday, September 14th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, September 13th. This represents a $1.00 annualized dividend and a dividend yield of 3.14%. NexPoint Residential Trust’s dividend payout ratio (DPR) is currently 85.47%.
Institutional investors have recently added to or reduced their stakes in the company. OMERS ADMINISTRATION Corp purchased a new stake in NexPoint Residential Trust in the second quarter valued at $233,000. Highland Capital Management LP lifted its position in NexPoint Residential Trust by 4.1% in the first quarter. Highland Capital Management LP now owns 2,305,274 shares of the financial services provider’s stock valued at $57,263,000 after acquiring an additional 89,799 shares during the last quarter. GSA Capital Partners LLP lifted its position in NexPoint Residential Trust by 48.0% in the first quarter. GSA Capital Partners LLP now owns 83,535 shares of the financial services provider’s stock valued at $2,075,000 after acquiring an additional 27,095 shares during the last quarter. Prudential Financial Inc. lifted its position in NexPoint Residential Trust by 32.3% in the first quarter. Prudential Financial Inc. now owns 73,730 shares of the financial services provider’s stock valued at $1,832,000 after acquiring an additional 18,000 shares during the last quarter. Finally, Lyon Street Capital LLC lifted its position in NexPoint Residential Trust by 5.7% in the first quarter. Lyon Street Capital LLC now owns 273,479 shares of the financial services provider’s stock valued at $6,793,000 after acquiring an additional 14,857 shares during the last quarter. 61.99% 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.
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