NexPoint Residential Trust, Inc. (NYSE:NXRT) Receives Average Rating of “Hold” from Brokerages

NexPoint Residential Trust, Inc. (NYSE:NXRT) has been given an average recommendation of “Hold” by the five ratings firms that are presently covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $37.75.

A number of equities research analysts have recently weighed in on the stock. Raymond James upgraded shares of NexPoint Residential Trust from an “underperform” rating to a “market perform” rating in a report on Friday, May 24th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $38.00 price target on shares of NexPoint Residential Trust in a report on Tuesday, June 11th. Finally, Truist Financial raised their target price on NexPoint Residential Trust from $34.00 to $37.00 and gave the stock a “hold” rating in a research report on Monday, June 24th.

NexPoint Residential Trust Stock Down 0.3 %

NXRT stock opened at $42.63 on Friday. NexPoint Residential Trust has a fifty-two week low of $26.21 and a fifty-two week high of $43.89. The company’s 50 day moving average price is $38.25 and its 200 day moving average price is $34.02. The company has a debt-to-equity ratio of 2.90, a quick ratio of 2.66 and a current ratio of 2.66. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of 15.06, a PEG ratio of 1.27 and a beta of 1.35.

NexPoint Residential Trust Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were given a dividend of $0.4624 per share. The ex-dividend date was Friday, June 14th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 4.34%. This is a boost from NexPoint Residential Trust’s previous quarterly dividend of $0.46. NexPoint Residential Trust’s payout ratio is 65.37%.

Insider Activity

In other NexPoint Residential Trust news, insider Brian Mitts sold 2,000 shares of NexPoint Residential Trust stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $39.40, for a total transaction of $78,800.00. Following the transaction, the insider now owns 65,696 shares of the company’s stock, valued at $2,588,422.40. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 12.96% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of NXRT. Burford Brothers Inc. acquired a new stake in shares of NexPoint Residential Trust during the fourth quarter worth about $855,000. Strs Ohio increased its holdings in shares of NexPoint Residential Trust by 61.4% in the fourth quarter. Strs Ohio now owns 125,900 shares of the financial services provider’s stock valued at $4,334,000 after purchasing an additional 47,900 shares during the period. Louisiana State Employees Retirement System purchased a new stake in shares of NexPoint Residential Trust during the fourth quarter worth approximately $401,000. Federated Hermes Inc. lifted its holdings in shares of NexPoint Residential Trust by 12.3% during the fourth quarter. Federated Hermes Inc. now owns 8,059 shares of the financial services provider’s stock worth $277,000 after purchasing an additional 884 shares during the period. Finally, Quest Partners LLC purchased a new position in NexPoint Residential Trust in the 4th quarter valued at $140,000. 76.61% of the stock is owned by hedge funds and other institutional investors.

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.