StockNews.com Upgrades NexPoint Residential Trust (NYSE:NXRT) to Hold

NexPoint Residential Trust (NYSE:NXRT) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Thursday.

A number of other analysts also recently issued reports on NXRT. Raymond James raised NexPoint Residential Trust from a “market perform” rating to an “outperform” rating and set a $50.00 target price for the company in a research note on Monday, October 21st. Truist Financial raised their price objective on shares of NexPoint Residential Trust from $37.00 to $46.00 and gave the stock a “hold” rating in a research report on Tuesday, August 27th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of NexPoint Residential Trust from $38.00 to $44.00 and gave the company a “hold” rating in a report on Tuesday, September 10th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $46.83.

NexPoint Residential Trust Stock Performance

NXRT opened at $44.90 on Thursday. NexPoint Residential Trust has a twelve month low of $28.20 and a twelve month high of $48.37. The firm has a market capitalization of $1.14 billion, a PE ratio of 25.66, a PEG ratio of 2.75 and a beta of 1.40. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 3.25. The firm’s 50-day moving average price is $44.77 and its 200 day moving average price is $42.97.

NexPoint Residential Trust (NYSE:NXRT) last released its earnings results on Tuesday, October 29th. The financial services provider reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($1.01). NexPoint Residential Trust had a return on equity of 9.54% and a net margin of 17.54%. The business had revenue of $64.10 million during the quarter, compared to analysts’ expectations of $64.69 million. During the same period last year, the business earned $0.76 earnings per share. As a group, sell-side analysts expect that NexPoint Residential Trust will post 2.78 EPS for the current fiscal year.

Institutional Trading of NexPoint Residential Trust

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NXRT. Valley Wealth Managers Inc. acquired a new stake in shares of NexPoint Residential Trust during the third quarter worth about $27,000. Point72 DIFC Ltd purchased a new stake in NexPoint Residential Trust during the 2nd quarter worth approximately $32,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in NexPoint Residential Trust by 34.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 900 shares of the financial services provider’s stock worth $39,000 after buying an additional 232 shares in the last quarter. Signaturefd LLC boosted its position in NexPoint Residential Trust by 238.4% in the 2nd quarter. Signaturefd LLC now owns 1,039 shares of the financial services provider’s stock valued at $41,000 after buying an additional 732 shares during the period. Finally, Meeder Asset Management Inc. purchased a new position in NexPoint Residential Trust in the 3rd quarter valued at approximately $42,000. Hedge funds and other institutional investors own 76.61% of the company’s stock.

About NexPoint Residential Trust

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.