NexPoint Residential Trust (NYSE:NXRT) PT Raised to $37.00 at Truist Financial

NexPoint Residential Trust (NYSE:NXRT) had its price objective lifted by Truist Financial from $34.00 to $37.00 in a research report report published on Monday morning, Benzinga reports. Truist Financial currently has a hold rating on the financial services provider’s stock.

NXRT has been the topic of a number of other reports. Deutsche Bank Aktiengesellschaft reaffirmed a hold rating and set a $38.00 price target on shares of NexPoint Residential Trust in a research report on Tuesday, June 11th. Raymond James upgraded NexPoint Residential Trust from an underperform rating to a market perform rating in a research note on Friday, May 24th. Finally, JMP Securities restated a market outperform rating and set a $40.00 price target on shares of NexPoint Residential Trust in a research note on Wednesday, March 6th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, NexPoint Residential Trust currently has a consensus rating of Hold and a consensus price target of $37.75.

NexPoint Residential Trust Price Performance

Shares of NXRT stock opened at $38.73 on Monday. The stock’s 50-day moving average is $36.09 and its 200 day moving average is $33.27. NexPoint Residential Trust has a 1-year low of $26.21 and a 1-year high of $49.87. The company has a debt-to-equity ratio of 2.90, a current ratio of 2.66 and a quick ratio of 2.66. The company has a market cap of $994.20 million, a P/E ratio of 13.69, a PEG ratio of 1.13 and a beta of 1.33.

NexPoint Residential Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a dividend of $0.4624 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.85 dividend on an annualized basis and a yield of 4.78%. This is a boost from NexPoint Residential Trust’s previous quarterly dividend of $0.46. NexPoint Residential Trust’s payout ratio is currently 65.37%.

Insider Activity

In related news, insider Brian Mitts sold 5,000 shares of NexPoint Residential Trust stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $34.25, for a total transaction of $171,250.00. Following the completion of the sale, the insider now owns 66,947 shares of the company’s stock, valued at $2,292,934.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 12.96% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. SRS Capital Advisors Inc. grew its position in NexPoint Residential Trust by 176.1% during the 4th quarter. SRS Capital Advisors Inc. now owns 903 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 576 shares during the period. Van ECK Associates Corp raised its position in NexPoint Residential Trust by 19.7% during the fourth quarter. Van ECK Associates Corp now owns 3,163 shares of the financial services provider’s stock valued at $109,000 after acquiring an additional 520 shares in the last quarter. Quest Partners LLC acquired a new position in NexPoint Residential Trust in the fourth quarter valued at approximately $140,000. Price T Rowe Associates Inc. MD purchased a new stake in NexPoint Residential Trust in the 1st quarter worth approximately $212,000. Finally, Daiwa Securities Group Inc. grew its stake in shares of NexPoint Residential Trust by 8.9% during the 1st quarter. Daiwa Securities Group Inc. now owns 7,436 shares of the financial services provider’s stock worth $239,000 after purchasing an additional 610 shares during the period. 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.