NexPoint Residential Trust, Inc. (NYSE:NXRT) Receives $43.58 Consensus Target Price from Brokerages

NexPoint Residential Trust, Inc. (NYSE:NXRT) has been assigned a consensus recommendation of “Hold” from the seven brokerages that are presently covering the firm, MarketBeat reports. Seven investment analysts have rated the stock with a hold rating. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $43.58.

Several analysts have issued reports on NXRT shares. JMP Securities reiterated a “market perform” rating on shares of NexPoint Residential Trust in a research note on Monday, May 19th. Compass Point reiterated a “neutral” rating and issued a $42.50 target price (down from $50.00) on shares of NexPoint Residential Trust in a research note on Tuesday, May 13th. Truist Financial lowered their target price on shares of NexPoint Residential Trust from $42.00 to $38.00 and set a “hold” rating on the stock in a research note on Thursday, May 29th. Wall Street Zen cut shares of NexPoint Residential Trust from a “hold” rating to a “sell” rating in a research note on Saturday, March 1st. Finally, Citizens Jmp cut shares of NexPoint Residential Trust from an “outperform” rating to a “market perform” rating in a research note on Monday, May 19th.

NexPoint Residential Trust Stock Down 2.5%

NXRT opened at $33.90 on Wednesday. The company has a 50 day moving average of $35.56 and a 200 day moving average of $38.94. The company has a market cap of $857.09 million, a PE ratio of 19.37, a price-to-earnings-growth ratio of 2.34 and a beta of 1.08. NexPoint Residential Trust has a 12 month low of $30.98 and a 12 month high of $48.37. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 3.25.

NexPoint Residential Trust (NYSE:NXRT) last released its quarterly earnings data on Tuesday, April 29th. The financial services provider reported $0.84 EPS for the quarter, topping the consensus estimate of $0.78 by $0.06. The company had revenue of $63.22 million during the quarter, compared to the consensus estimate of $63.29 million. NexPoint Residential Trust had a net margin of 17.54% and a return on equity of 9.54%. On average, sell-side analysts expect that NexPoint Residential Trust will post 2.86 EPS for the current year.

NexPoint Residential Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 6.02%. The ex-dividend date is Monday, June 16th. NexPoint Residential Trust’s dividend payout ratio (DPR) is currently -159.37%.

Insider Activity

In related news, insider Paul Richards acquired 5,814 shares of the stock in a transaction dated Monday, April 7th. The shares were purchased at an average price of $33.24 per share, for a total transaction of $193,257.36. Following the transaction, the insider now owns 18,493 shares in the company, valued at $614,707.32. This represents a 45.86% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 15.36% of the company’s stock.

Hedge Funds Weigh In On NexPoint Residential Trust

A number of large investors have recently added to or reduced their stakes in NXRT. Nexpoint Asset Management L.P. raised its position in NexPoint Residential Trust by 100.0% in the 4th quarter. Nexpoint Asset Management L.P. now owns 1,562,753 shares of the financial services provider’s stock worth $65,245,000 after purchasing an additional 781,266 shares during the period. Millennium Management LLC raised its position in NexPoint Residential Trust by 194.3% in the 4th quarter. Millennium Management LLC now owns 284,292 shares of the financial services provider’s stock worth $11,869,000 after purchasing an additional 187,680 shares during the period. Invesco Ltd. raised its position in NexPoint Residential Trust by 63.9% in the 1st quarter. Invesco Ltd. now owns 330,285 shares of the financial services provider’s stock worth $13,056,000 after purchasing an additional 128,745 shares during the period. BROOKFIELD Corp ON raised its position in NexPoint Residential Trust by 109.7% in the 1st quarter. BROOKFIELD Corp ON now owns 193,982 shares of the financial services provider’s stock worth $7,668,000 after purchasing an additional 101,459 shares during the period. Finally, BROOKFIELD Corp ON purchased a new position in NexPoint Residential Trust in the 4th quarter worth $3,863,000. Hedge funds and other institutional investors own 76.61% of the company’s stock.

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.