NexPoint Residential Trust (NXRT) Upgraded by Zacks Investment Research to “Buy”

NexPoint Residential Trust (NYSE:NXRT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Saturday. The brokerage presently has a $30.00 price objective on the financial services provider’s stock. Zacks Investment Research‘s target price indicates a potential upside of 8.93% from the stock’s previous close.

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. “

A number of other research firms also recently issued reports on NXRT. ValuEngine downgraded shares of NexPoint Residential Trust from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. BidaskClub raised shares of NexPoint Residential Trust from a “sell” rating to a “hold” rating in a research report on Friday, October 13th. Ladenburg Thalmann Financial Services reissued a “buy” rating on shares of NexPoint Residential Trust in a research report on Thursday, November 2nd. B. Riley reissued a “buy” rating and set a $28.00 target price (up previously from $27.00) on shares of NexPoint Residential Trust in a research report on Thursday, November 2nd. Finally, Janney Montgomery Scott assumed coverage on shares of NexPoint Residential Trust in a research report on Friday, September 8th. They set a “neutral” rating for the company. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. NexPoint Residential Trust currently has a consensus rating of “Buy” and a consensus target price of $28.25.

Shares of NexPoint Residential Trust (NYSE NXRT) opened at $27.54 on Friday. The stock has a market cap of $569.23, a P/E ratio of 17.11, a P/E/G ratio of 3.21 and a beta of 0.93. NexPoint Residential Trust has a 1 year low of $22.28 and a 1 year high of $29.40. The company has a current ratio of 1.72, a quick ratio of 1.72 and a debt-to-equity ratio of 3.09.

In other news, insider James D. Dondero acquired 18,000 shares of the stock in a transaction on Thursday, December 14th. The stock was bought at an average price of $26.65 per share, with a total value of $479,700.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider James D. Dondero acquired 1,100 shares of the stock in a transaction on Tuesday, October 10th. The stock was purchased at an average cost of $23.37 per share, with a total value of $25,707.00. The disclosure for this purchase can be found here. Insiders acquired 29,100 shares of company stock valued at $790,407 in the last ninety days. 19.00% of the stock is owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in NXRT. Chicago Equity Partners LLC purchased a new position in shares of NexPoint Residential Trust during the 2nd quarter valued at approximately $209,000. Great West Life Assurance Co. Can boosted its stake in shares of NexPoint Residential Trust by 0.3% during the 2nd quarter. Great West Life Assurance Co. Can now owns 10,225 shares of the financial services provider’s stock valued at $254,000 after buying an additional 29 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of NexPoint Residential Trust by 2.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 14,817 shares of the financial services provider’s stock valued at $369,000 after buying an additional 385 shares during the last quarter. Virginia Retirement Systems ET AL boosted its stake in shares of NexPoint Residential Trust by 7.6% during the 2nd quarter. Virginia Retirement Systems ET AL now owns 15,500 shares of the financial services provider’s stock valued at $386,000 after buying an additional 1,100 shares during the last quarter. Finally, Boothbay Fund Management LLC purchased a new position in shares of NexPoint Residential Trust during the 3rd quarter valued at approximately $415,000. Institutional investors own 56.62% of the company’s stock.

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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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