NexPoint Residential Trust, Inc. (NYSE:NXRT) Given Consensus Rating of “Hold” by Brokerages

NexPoint Residential Trust, Inc. (NYSE:NXRT) has been assigned a consensus recommendation of “Hold” from the five brokerages that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $37.25.

Several equities research analysts have recently commented on the company. JMP Securities reaffirmed a “market outperform” rating and set a $40.00 target price on shares of NexPoint Residential Trust in a report on Wednesday, March 6th. Janney Montgomery Scott downgraded NexPoint Residential Trust from a “buy” rating to a “neutral” rating and set a $36.00 target price for the company. in a report on Wednesday, December 20th. Raymond James downgraded NexPoint Residential Trust from a “market perform” rating to an “underperform” rating in a report on Monday, March 18th. Truist Financial reduced their target price on NexPoint Residential Trust from $37.00 to $35.00 and set a “hold” rating for the company in a report on Tuesday, April 9th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on NexPoint Residential Trust in a report on Tuesday, January 30th. They set a “buy” rating and a $38.00 target price for the company.

NexPoint Residential Trust Trading Down 0.7 %

Shares of NXRT stock opened at $31.18 on Friday. The stock has a 50-day simple moving average of $30.59 and a 200 day simple moving average of $31.27. NexPoint Residential Trust has a fifty-two week low of $26.21 and a fifty-two week high of $49.87. The stock has a market capitalization of $803.51 million, a P/E ratio of 18.56, a P/E/G ratio of 0.96 and a beta of 1.28. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 3.16.

NexPoint Residential Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were issued a dividend of $0.462 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.85 annualized dividend and a dividend yield of 5.93%. NexPoint Residential Trust’s dividend payout ratio is 110.12%.

Institutional Investors Weigh In On NexPoint Residential Trust

Several institutional investors have recently made changes to their positions in NXRT. BlackRock Inc. increased its position in NexPoint Residential Trust by 6.0% in the 2nd quarter. BlackRock Inc. now owns 4,642,552 shares of the financial services provider’s stock worth $211,143,000 after buying an additional 260,893 shares during the period. Vanguard Group Inc. increased its position in NexPoint Residential Trust by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 2,784,482 shares of the financial services provider’s stock worth $128,670,000 after buying an additional 29,122 shares during the period. State Street Corp increased its position in NexPoint Residential Trust by 0.5% in the 2nd quarter. State Street Corp now owns 1,446,533 shares of the financial services provider’s stock worth $65,788,000 after buying an additional 6,511 shares during the period. Copeland Capital Management LLC increased its position in NexPoint Residential Trust by 7.8% in the 3rd quarter. Copeland Capital Management LLC now owns 1,389,762 shares of the financial services provider’s stock worth $44,723,000 after buying an additional 100,430 shares during the period. Finally, Goldman Sachs Group Inc. increased its position in NexPoint Residential Trust by 6.1% in the 2nd quarter. Goldman Sachs Group Inc. now owns 732,549 shares of the financial services provider’s stock worth $45,792,000 after buying an additional 42,027 shares during the period. 76.61% of the stock is currently owned by institutional investors and hedge funds.

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.