Zacks Investment Research cut shares of NexPoint Residential Trust (NYSE:NXRT) from a buy rating to a hold rating in a report published on Saturday, February 17th.
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. “
NXRT has been the topic of several other research reports. Ladenburg Thalmann Financial Services reiterated a buy rating on shares of NexPoint Residential Trust in a research note on Thursday, November 2nd. B. Riley reiterated a buy rating and set a $28.00 price target (up previously from $27.00) on shares of NexPoint Residential Trust in a research note on Thursday, November 2nd. FBR & Co reiterated a buy rating and set a $27.00 price target on shares of NexPoint Residential Trust in a research note on Thursday, October 26th. Finally, ValuEngine cut shares of NexPoint Residential Trust from a buy rating to a hold rating in a research note on Friday, December 1st. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus target price of $27.50.
NexPoint Residential Trust (NXRT) traded up $0.30 during trading hours on Friday, reaching $25.70. 57,834 shares of the company’s stock were exchanged, compared to its average volume of 75,933. The company has a debt-to-equity ratio of 3.28, a quick ratio of 1.74 and a current ratio of 1.74. NexPoint Residential Trust has a fifty-two week low of $22.38 and a fifty-two week high of $29.40. The company has a market cap of $529.34, a P/E ratio of 10.33 and a beta of 0.85.
NexPoint Residential Trust (NYSE:NXRT) last posted its earnings results on Tuesday, February 13th. The financial services provider reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.02. NexPoint Residential Trust had a net margin of 37.00% and a return on equity of 23.02%. The business had revenue of $34.90 million during the quarter, compared to the consensus estimate of $36.28 million. During the same quarter in the previous year, the firm posted $0.39 EPS. The firm’s revenue was up 7.1% on a year-over-year basis. equities analysts predict that NexPoint Residential Trust will post 1.66 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Tuesday, March 20th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.89%. The ex-dividend date of this dividend is Monday, March 19th. NexPoint Residential Trust’s dividend payout ratio (DPR) is 40.32%.
In other news, insider James D. Dondero bought 24,788 shares of the stock in a transaction that occurred on Monday, January 22nd. The shares were bought at an average price of $27.23 per share, for a total transaction of $674,977.24. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider James D. Dondero bought 10,000 shares of the stock in a transaction that occurred on Monday, December 18th. The shares were purchased at an average price of $28.50 per share, for a total transaction of $285,000.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 86,553 shares of company stock worth $2,360,392. 19.00% of the stock is owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in NXRT. Highland Capital Management LP lifted its stake in NexPoint Residential Trust by 27.6% in the 4th quarter. Highland Capital Management LP now owns 2,215,475 shares of the financial services provider’s stock worth $57,174,000 after purchasing an additional 478,850 shares in the last quarter. Millennium Management LLC increased its holdings in shares of NexPoint Residential Trust by 404.7% in the 4th quarter. Millennium Management LLC now owns 477,383 shares of the financial services provider’s stock worth $13,338,000 after buying an additional 382,804 shares during the last quarter. Boston Partners increased its holdings in shares of NexPoint Residential Trust by 89.0% in the 3rd quarter. Boston Partners now owns 275,200 shares of the financial services provider’s stock worth $6,530,000 after buying an additional 129,600 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of NexPoint Residential Trust by 13.7% in the 4th quarter. Renaissance Technologies LLC now owns 961,300 shares of the financial services provider’s stock worth $26,859,000 after buying an additional 115,600 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in shares of NexPoint Residential Trust by 109.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 220,919 shares of the financial services provider’s stock worth $5,242,000 after buying an additional 115,368 shares during the last quarter. Institutional investors and hedge funds own 59.77% of the company’s stock.
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NexPoint Residential Trust Company Profile
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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