NexPoint Residential Trust Inc (NXRT) Cut to “Sell” at BidaskClub

BidaskClub lowered shares of NexPoint Residential Trust Inc (NASDAQ:NXRT) from a hold rating to a sell rating in a research report sent to investors on Friday.

Several other brokerages have also issued reports on NXRT. Ladenburg Thalmann Financial Services restated a buy rating on shares of NexPoint Residential Trust in a research note on Wednesday, August 2nd. Zacks Investment Research lowered shares of NexPoint Residential Trust from a buy rating to a hold rating in a research note on Wednesday, July 12th. Canaccord Genuity set a $28.00 price target on shares of NexPoint Residential Trust and gave the stock a buy rating in a research note on Tuesday, August 1st. Finally, Janney Montgomery Scott initiated coverage on shares of NexPoint Residential Trust in a research note on Friday, September 8th. They set a neutral rating for the company. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $28.00.

NexPoint Residential Trust (NXRT) opened at 23.33 on Friday. NexPoint Residential Trust has a 52-week low of $16.67 and a 52-week high of $26.10. The stock has a 50 day moving average price of $23.58 and a 200 day moving average price of $23.58. The firm has a market cap of $490.93 million and a P/E ratio of 44.35.

NexPoint Residential Trust (NASDAQ:NXRT) last issued its quarterly earnings results on Tuesday, August 1st. The company reported $0.34 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.02). NexPoint Residential Trust had a return on equity of 14.15% and a net margin of 28.18%. The company had revenue of $35.23 million for the quarter, compared to analysts’ expectations of $35.95 million. During the same quarter in the previous year, the business earned $0.37 EPS. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. Equities analysts predict that NexPoint Residential Trust will post ($0.10) earnings per share for the current fiscal year.

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The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 15th were paid a $0.22 dividend. The ex-dividend date was Thursday, September 14th. This represents a $0.88 dividend on an annualized basis and a yield of 3.77%.

In other NexPoint Residential Trust news, insider James D. Dondero acquired 12,600 shares of NexPoint Residential Trust stock in a transaction that occurred on Monday, August 7th. The stock was acquired at an average cost of $23.81 per share, for a total transaction of $300,006.00. Following the purchase, the insider now owns 5,202 shares of the company’s stock, valued at $123,859.62. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James D. Dondero acquired 2,000 shares of NexPoint Residential Trust stock in a transaction that occurred on Friday, August 11th. The stock was acquired at an average price of $23.30 per share, with a total value of $46,600.00. Following the completion of the purchase, the insider now directly owns 30,725 shares in the company, valued at approximately $715,892.50. The disclosure for this purchase can be found here. Insiders purchased a total of 57,500 shares of company stock valued at $1,387,418 over the last quarter.

A number of institutional investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company grew its stake in NexPoint Residential Trust by 2.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 14,817 shares of the company’s stock valued at $369,000 after buying an additional 385 shares in the last quarter. State Street Corp grew its stake in NexPoint Residential Trust by 4.9% in the 2nd quarter. State Street Corp now owns 548,705 shares of the company’s stock valued at $13,653,000 after buying an additional 25,552 shares in the last quarter. Numeric Investors LLC grew its stake in NexPoint Residential Trust by 61.0% in the 2nd quarter. Numeric Investors LLC now owns 547,597 shares of the company’s stock valued at $13,630,000 after buying an additional 207,460 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in NexPoint Residential Trust by 8.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 185,460 shares of the company’s stock valued at

Several other brokerages have also issued reports on NXRT. Ladenburg Thalmann Financial Services restated a buy rating on shares of NexPoint Residential Trust in a research note on Wednesday, August 2nd. Zacks Investment Research lowered shares of NexPoint Residential Trust from a buy rating to a hold rating in a research note on Wednesday, July 12th. Canaccord Genuity set a $28.00 price target on shares of NexPoint Residential Trust and gave the stock a buy rating in a research note on Tuesday, August 1st. Finally, Janney Montgomery Scott initiated coverage on shares of NexPoint Residential Trust in a research note on Friday, September 8th. They set a neutral rating for the company. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $28.00.

NexPoint Residential Trust (NXRT) opened at 23.33 on Friday. NexPoint Residential Trust has a 52-week low of $16.67 and a 52-week high of $26.10. The stock has a 50 day moving average price of $23.58 and a 200 day moving average price of $23.58. The firm has a market cap of $490.93 million and a P/E ratio of 44.35.

NexPoint Residential Trust (NASDAQ:NXRT) last issued its quarterly earnings results on Tuesday, August 1st. The company reported $0.34 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.02). NexPoint Residential Trust had a return on equity of 14.15% and a net margin of 28.18%. The company had revenue of $35.23 million for the quarter, compared to analysts’ expectations of $35.95 million. During the same quarter in the previous year, the business earned $0.37 EPS. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. Equities analysts predict that NexPoint Residential Trust will post ($0.10) earnings per share for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: This piece of content was first reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are viewing this piece of content on another website, it was illegally copied and reposted in violation of United States & international trademark & copyright law. The legal version of this piece of content can be accessed at https://ledgergazette.com/2017/10/09/nexpoint-residential-trust-inc-nxrt-cut-to-sell-at-bidaskclub.html.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 15th were paid a $0.22 dividend. The ex-dividend date was Thursday, September 14th. This represents a $0.88 dividend on an annualized basis and a yield of 3.77%.

In other NexPoint Residential Trust news, insider James D. Dondero acquired 12,600 shares of NexPoint Residential Trust stock in a transaction that occurred on Monday, August 7th. The stock was acquired at an average cost of $23.81 per share, for a total transaction of $300,006.00. Following the purchase, the insider now owns 5,202 shares of the company’s stock, valued at $123,859.62. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James D. Dondero acquired 2,000 shares of NexPoint Residential Trust stock in a transaction that occurred on Friday, August 11th. The stock was acquired at an average price of $23.30 per share, with a total value of $46,600.00. Following the completion of the purchase, the insider now directly owns 30,725 shares in the company, valued at approximately $715,892.50. The disclosure for this purchase can be found here. Insiders purchased a total of 57,500 shares of company stock valued at $1,387,418 over the last quarter.

A number of institutional investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company grew its stake in NexPoint Residential Trust by 2.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 14,817 shares of the company’s stock valued at $369,000 after buying an additional 385 shares in the last quarter. State Street Corp grew its stake in NexPoint Residential Trust by 4.9% in the 2nd quarter. State Street Corp now owns 548,705 shares of the company’s stock valued at $13,653,000 after buying an additional 25,552 shares in the last quarter. Numeric Investors LLC grew its stake in NexPoint Residential Trust by 61.0% in the 2nd quarter. Numeric Investors LLC now owns 547,597 shares of the company’s stock valued at $13,630,000 after buying an additional 207,460 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in NexPoint Residential Trust by 8.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 185,460 shares of the company’s stock valued at $4,616,000 after buying an additional 13,751 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in NexPoint Residential Trust by 19.8% in the 2nd quarter. Renaissance Technologies LLC now owns 780,100 shares of the company’s stock valued at $19,417,000 after buying an additional 129,000 shares in the last quarter.

About NexPoint Residential Trust

NexPoint Residential Trust, Inc is an externally managed real estate investment trust (REIT). The Company’s investment objectives are to maximize the cash flow and value of properties owned, acquire properties with cash flow growth potential, provide quarterly cash distributions and achieve long-term capital appreciation for its stockholders through targeted management and a value-add program.

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