Zacks Investment Research upgraded shares of NexPoint Residential Trust (NYSE:NXRT) from a hold rating to a buy rating in a research report report published on Saturday. They currently have $38.00 price target on the financial services provider’s stock.
According to Zacks, “NexPoint Residential Trust, Inc. is engaged in acquiring, owning, operating and selectively developing multifamily properties. It operates primarily in the Southeastern United States and Texas. NexPoint Residential Trust, Inc. is based in Dallas, United States. “
Several other brokerages also recently weighed in on NXRT. Boenning Scattergood started coverage on NexPoint Residential Trust in a research report on Monday, September 17th. They issued an outperform rating and a $35.00 price objective for the company. B. Riley boosted their price objective on NexPoint Residential Trust from $30.00 to $34.00 and gave the company a buy rating in a research report on Wednesday, August 1st. Finally, ValuEngine upgraded NexPoint Residential Trust from a hold rating to a buy rating in a research report on Tuesday, July 31st. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of $35.50.
NYSE:NXRT opened at $32.31 on Friday. The company has a market capitalization of $693.17 million, a P/E ratio of 27.62, a PEG ratio of 1.81 and a beta of 0.59. NexPoint Residential Trust has a 1-year low of $23.03 and a 1-year high of $38.17. The company has a quick ratio of 2.77, a current ratio of 2.77 and a debt-to-equity ratio of 3.24.
NexPoint Residential Trust (NYSE:NXRT) last released its earnings results on Tuesday, October 30th. The financial services provider reported ($0.25) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.44 by ($0.69). The firm had revenue of $36.50 million during the quarter, compared to the consensus estimate of $36.04 million. NexPoint Residential Trust had a negative return on equity of 0.48% and a negative net margin of 0.82%. On average, equities analysts forecast that NexPoint Residential Trust will post 1.71 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 31st. Shareholders of record on Monday, December 17th will be given a $0.275 dividend. The ex-dividend date is Friday, December 14th. This represents a $1.10 annualized dividend and a yield of 3.40%. This is an increase from NexPoint Residential Trust’s previous quarterly dividend of $0.25. NexPoint Residential Trust’s payout ratio is presently 85.47%.
A number of hedge funds have recently made changes to their positions in the business. Ladenburg Thalmann Financial Services Inc. lifted its position in NexPoint Residential Trust by 68.6% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,778 shares of the financial services provider’s stock valued at $118,000 after purchasing an additional 1,944 shares during the last quarter. First Trust Advisors LP lifted its position in NexPoint Residential Trust by 9.7% in the second quarter. First Trust Advisors LP now owns 23,648 shares of the financial services provider’s stock valued at $673,000 after purchasing an additional 2,086 shares during the last quarter. Northern Trust Corp lifted its position in NexPoint Residential Trust by 1.1% in the first quarter. Northern Trust Corp now owns 207,590 shares of the financial services provider’s stock valued at $5,157,000 after purchasing an additional 2,243 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new stake in NexPoint Residential Trust in the third quarter valued at approximately $121,000. Finally, Raymond James & Associates lifted its position in NexPoint Residential Trust by 7.6% in the second quarter. Raymond James & Associates now owns 60,261 shares of the financial services provider’s stock valued at $1,714,000 after purchasing an additional 4,260 shares during the last quarter. Hedge funds and other institutional investors own 61.27% 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.
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