NexPoint Residential Trust Inc (NYSE:NXRT) saw a significant increase in short interest in August. As of August 31st, there was short interest totalling 645,400 shares, an increase of 19.5% from the August 15th total of 540,200 shares. Based on an average daily volume of 164,300 shares, the days-to-cover ratio is presently 3.9 days. Currently, 2.9% of the shares of the company are sold short.
Several equities analysts have recently weighed in on the company. Zacks Investment Research upgraded NexPoint Residential Trust from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 22nd. Truist lifted their price target on NexPoint Residential Trust from $34.00 to $44.00 in a research report on Wednesday, August 26th. Finally, Raymond James lifted their price target on NexPoint Residential Trust from $37.00 to $49.00 and gave the company a “strong-buy” rating in a research report on Thursday, August 13th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $42.33.
A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. increased its holdings in shares of NexPoint Residential Trust by 46.5% in the first quarter. BlackRock Inc. now owns 3,778,921 shares of the financial services provider’s stock worth $95,266,000 after buying an additional 1,199,862 shares during the period. Centersquare Investment Management LLC purchased a new position in NexPoint Residential Trust during the 1st quarter valued at about $13,106,000. Copeland Capital Management LLC increased its holdings in NexPoint Residential Trust by 229.3% during the 2nd quarter. Copeland Capital Management LLC now owns 643,604 shares of the financial services provider’s stock valued at $22,751,000 after purchasing an additional 448,141 shares during the period. FMR LLC increased its holdings in NexPoint Residential Trust by 191,804.8% during the 2nd quarter. FMR LLC now owns 318,562 shares of the financial services provider’s stock valued at $11,261,000 after purchasing an additional 318,396 shares during the period. Finally, Invesco Ltd. increased its holdings in NexPoint Residential Trust by 728.1% during the 1st quarter. Invesco Ltd. now owns 318,626 shares of the financial services provider’s stock valued at $8,032,000 after purchasing an additional 280,150 shares during the period. 78.23% of the stock is owned by hedge funds and other institutional investors.
NXRT stock traded up $0.50 during mid-day trading on Wednesday, hitting $44.63. 183,061 shares of the stock were exchanged, compared to its average volume of 270,287. The company has a debt-to-equity ratio of 3.87, a current ratio of 2.94 and a quick ratio of 2.94. The business has a fifty day moving average price of $40.45 and a 200 day moving average price of $35.08. NexPoint Residential Trust has a 12 month low of $21.06 and a 12 month high of $52.87. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of 8.91 and a beta of 1.04.
NexPoint Residential Trust (NYSE:NXRT) last issued its quarterly earnings results on Tuesday, August 4th. The financial services provider reported ($0.38) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($0.88). NexPoint Residential Trust had a return on equity of 31.19% and a net margin of 62.17%. As a group, equities analysts forecast that NexPoint Residential Trust will post 2.15 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be paid a dividend of $0.313 per share. The ex-dividend date of this dividend is Monday, September 14th. This represents a $1.25 annualized dividend and a yield of 2.81%. This is a positive change from NexPoint Residential Trust’s previous quarterly dividend of $0.31. NexPoint Residential Trust’s payout ratio is 56.82%.
NexPoint Residential Trust Company Profile
NexPoint Residential Trust is a publicly traded REIT, with its shares listed on the New York Stock Exchange under the symbol "NXRT," primarily focused on acquiring, owning and operating well-located middle-income multifamily properties with "value-add" potential in large cities and suburban submarkets of large cities, primarily in the Southeastern and Southwestern United States.
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