NexPoint Residential Trust (NYSE:NXRT) Hits New 52-Week High at $46.21

NexPoint Residential Trust, Inc. (NYSE:NXRT) reached a new 52-week high on Monday . The company traded as high as $46.21 and last traded at $46.21, with a volume of 1498 shares. The stock had previously closed at $45.66.

Analysts Set New Price Targets

NXRT has been the topic of several research analyst reports. JMP Securities boosted their price objective on shares of NexPoint Residential Trust from $40.00 to $50.00 and gave the company a “market outperform” rating in a report on Friday, August 2nd. Raymond James raised shares of NexPoint Residential Trust from an “underperform” rating to a “market perform” rating in a research report on Friday, May 24th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $38.00 target price on shares of NexPoint Residential Trust in a research report on Tuesday, June 11th. Truist Financial raised their price target 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. Finally, Compass Point lifted their price objective on NexPoint Residential Trust from $45.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, NexPoint Residential Trust currently has a consensus rating of “Hold” and a consensus price target of $43.20.

NexPoint Residential Trust Trading Up 0.6 %

The company’s 50 day simple moving average is $41.34 and its 200 day simple moving average is $35.87. The company has a debt-to-equity ratio of 2.96, a current ratio of 2.00 and a quick ratio of 2.66. The firm has a market cap of $1.18 billion, a price-to-earnings ratio of 16.13, a P/E/G ratio of 1.31 and a beta of 1.35.

NexPoint Residential Trust (NYSE:NXRT) last posted its quarterly earnings results on Tuesday, July 30th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.29). NexPoint Residential Trust had a net margin of 32.93% and a return on equity of 17.69%. The company had revenue of $64.24 million during the quarter, compared to analyst estimates of $64.99 million. During the same period in the prior year, the business earned $0.88 EPS. As a group, research analysts expect that NexPoint Residential Trust, Inc. will post 2.86 earnings per share for the current fiscal year.

NexPoint Residential Trust Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be given a $0.462 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 4.02%. The ex-dividend date is Friday, September 13th. NexPoint Residential Trust’s dividend payout ratio is presently 65.37%.

Insider Transactions at NexPoint Residential Trust

In related news, insider Brian Mitts sold 2,000 shares of the business’s 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 completion of the sale, the insider now owns 65,696 shares in the company, valued at $2,588,422.40. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 12.96% of the company’s stock.

Institutional Investors Weigh In On NexPoint Residential Trust

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. grew its holdings in shares of NexPoint Residential Trust by 40.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,107 shares of the financial services provider’s stock worth $123,000 after purchasing an additional 900 shares during the last quarter. Creative Planning acquired a new stake in shares of NexPoint Residential Trust in the 2nd quarter valued at about $452,000. Algert Global LLC boosted its position in shares of NexPoint Residential Trust by 17.2% in the 2nd quarter. Algert Global LLC now owns 86,003 shares of the financial services provider’s stock valued at $3,398,000 after purchasing an additional 12,627 shares during the period. Long Pond Capital LP purchased a new position in NexPoint Residential Trust during the 2nd quarter worth approximately $24,273,000. Finally, The Manufacturers Life Insurance Company increased its position in NexPoint Residential Trust by 9.6% during the second quarter. The Manufacturers Life Insurance Company now owns 9,392 shares of the financial services provider’s stock worth $371,000 after buying an additional 826 shares during the period. 76.61% of the stock is currently owned by institutional investors and hedge funds.

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.