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 Thursday. The brokerage presently has a $27.00 target price on the financial services provider’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 15.38% from the company’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. “

Other equities research analysts have also recently issued reports about the company. FBR & Co restated a “buy” rating and set a $27.00 target price on shares of NexPoint Residential Trust in a research note on Thursday, October 26th. B. Riley reiterated a “buy” rating and issued a $28.00 price target (up from $27.00) on shares of NexPoint Residential Trust in a research note on Wednesday, November 1st. ValuEngine cut NexPoint Residential Trust from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Finally, Ladenburg Thalmann Financial Services reiterated a “buy” rating on shares of NexPoint Residential Trust in a research note on Thursday, November 2nd. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $27.50.

Shares of NexPoint Residential Trust (NYSE:NXRT) opened at $23.40 on Thursday. The company has a debt-to-equity ratio of 3.09, a quick ratio of 1.72 and a current ratio of 1.72. NexPoint Residential Trust has a 12 month low of $22.28 and a 12 month high of $29.40. The firm has a market capitalization of $512.58, a price-to-earnings ratio of 15.31, a price-to-earnings-growth ratio of 2.91 and a beta of 0.72.

NexPoint Residential Trust (NYSE:NXRT) last released its earnings results on Tuesday, February 13th. The financial services provider reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.02. NexPoint Residential Trust had a return on equity of 23.28% and a net margin of 37.00%. The firm had revenue of $34.90 million during the quarter, compared to analysts’ expectations of $36.28 million. During the same period in the prior year, the company earned $0.39 earnings per share. The company’s quarterly revenue was up 7.1% on a year-over-year basis. equities analysts anticipate that NexPoint Residential Trust will post 1.67 EPS for the current fiscal year.

In other news, insider James D. Dondero purchased 18,000 shares of the company’s stock in a transaction dated Thursday, December 14th. The stock was bought at an average cost of $26.65 per share, for a total transaction of $479,700.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider James D. Dondero purchased 24,788 shares of the company’s stock in a transaction dated Monday, January 22nd. The stock was purchased at an average price of $27.23 per share, with a total value of $674,977.24. The disclosure for this purchase can be found here. Insiders bought a total of 86,553 shares of company stock valued at $2,360,392 over the last quarter. 19.00% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Tower Research Capital LLC TRC lifted its stake in shares of NexPoint Residential Trust by 448.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,270 shares of the financial services provider’s stock valued at $147,000 after acquiring an additional 4,309 shares during the last quarter. Forsta AP Fonden acquired a new stake in NexPoint Residential Trust in the fourth quarter valued at $204,000. Two Sigma Advisers LP acquired a new stake in NexPoint Residential Trust in the fourth quarter valued at $252,000. The Manufacturers Life Insurance Company increased its holdings in NexPoint Residential Trust by 2.7% in the second quarter. The Manufacturers Life Insurance Company now owns 14,817 shares of the financial services provider’s stock valued at $369,000 after purchasing an additional 385 shares during the period. Finally, Boothbay Fund Management LLC acquired a new stake in NexPoint Residential Trust in the third quarter valued at $415,000. Institutional investors own 55.65% 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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