NexPoint Residential Trust Inc (NXRT) Rating Lowered to Sell at Zacks Investment Research
NexPoint Residential Trust Inc (NASDAQ:NXRT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.
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. Compass Point started coverage on shares of NexPoint Residential Trust in a research note on Friday, September 23rd. They issued a “buy” rating and a $24.00 price target on the stock. DA Davidson reiterated a “buy” rating and issued a $23.00 price target on shares of NexPoint Residential Trust in a research note on Friday, August 26th. Finally, Canaccord Genuity started coverage on shares of NexPoint Residential Trust in a research note on Tuesday, June 28th. They issued a “buy” rating and a $20.00 price target on the stock.
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Shares of NexPoint Residential Trust (NASDAQ:NXRT) opened at 17.80 on Wednesday. NexPoint Residential Trust has a one year low of $10.35 and a one year high of $21.47. The firm has a 50-day moving average of $19.83 and a 200 day moving average of $17.26.
NexPoint Residential Trust (NASDAQ:NXRT) last announced its quarterly earnings results on Tuesday, August 9th. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.33 by $0.01. The company earned $33.70 million during the quarter, compared to analysts’ expectations of $33.50 million. Equities analysts forecast that NexPoint Residential Trust will post $1.44 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Thursday, September 15th were issued a $0.206 dividend. The ex-dividend date was Tuesday, September 13th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.63%.
In other NexPoint Residential Trust news, insider James D. Dondero bought 7,600 shares of NexPoint Residential Trust stock in a transaction dated Friday, September 9th. The shares were purchased at an average cost of $19.74 per share, for a total transaction of $150,024.00. Following the acquisition, the insider now directly owns 5,051 shares in the company, valued at approximately $99,706.74. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Edward N. Constantino bought 4,815 shares of NexPoint Residential Trust stock in a transaction dated Monday, August 22nd. The stock was acquired at an average price of $20.77 per share, for a total transaction of $100,007.55. Following the completion of the acquisition, the director now owns 12,175 shares in the company, valued at $252,874.75. The disclosure for this purchase can be found here.
A hedge fund recently raised its stake in NexPoint Residential Trust stock. Schwab Charles Investment Management Inc. raised its position in NexPoint Residential Trust Inc (NASDAQ:NXRT) by 12.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 109,405 shares of the company’s stock after buying an additional 11,792 shares during the period. Schwab Charles Investment Management Inc.’s holdings in NexPoint Residential Trust were worth $1,992,000 as of its most recent filing with the SEC.
About NexPoint Residential Trust
NexPoint Residential Trust, Inc is an externally managed real estate investment trust (REIT). The Company is focused on multifamily investments primarily located in the Southeastern and Southwestern United States. All of the Company’s business operations are conducted through NexPoint Residential Trust Operating Partnership, L.P.
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