Deutsche Bank Aktiengesellschaft Boosts NexPoint Residential Trust (NYSE:NXRT) Price Target to $44.00

NexPoint Residential Trust (NYSE:NXRT) had its price objective lifted by Deutsche Bank Aktiengesellschaft from $38.00 to $44.00 in a research report sent to investors on Tuesday morning, Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a hold rating on the financial services provider’s stock.

A number of other research firms have also issued reports on NXRT. Truist Financial upped their target price on shares of NexPoint Residential Trust from $37.00 to $46.00 and gave the stock a hold rating in a report on Tuesday, August 27th. Compass Point increased their price objective on shares of NexPoint Residential Trust from $45.00 to $55.00 and gave the company a buy rating in a report on Wednesday, July 31st. Raymond James upgraded NexPoint Residential Trust from an underperform rating to a market perform rating in a report on Friday, May 24th. Finally, JMP Securities increased their price target on NexPoint Residential Trust from $40.00 to $50.00 and gave the company a market outperform rating in a report on Friday, August 2nd. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $46.20.

NexPoint Residential Trust Trading Up 0.8 %

Shares of NexPoint Residential Trust stock opened at $45.52 on Tuesday. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 2.96. NexPoint Residential Trust has a twelve month low of $26.21 and a twelve month high of $48.37. The firm has a market capitalization of $1.17 billion, a PE ratio of 16.08, a P/E/G ratio of 1.35 and a beta of 1.38. The firm’s 50-day moving average price is $43.45 and its 200 day moving average price is $37.29.

NexPoint Residential Trust (NYSE:NXRT) last released its earnings results on Tuesday, July 30th. The financial services provider reported $0.40 earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $64.24 million during the quarter, compared to analysts’ expectations of $64.99 million. During the same quarter last year, the business earned $0.88 EPS. On average, sell-side analysts predict that NexPoint Residential Trust will post 2.82 EPS for the current fiscal year.

NexPoint Residential Trust Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be issued a $0.462 dividend. The ex-dividend date is Friday, September 13th. This represents a $1.85 annualized dividend and a yield of 4.06%. NexPoint Residential Trust’s payout ratio is 65.37%.

Insider Transactions at NexPoint Residential Trust

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

Institutional Trading of NexPoint Residential Trust

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Point72 DIFC Ltd purchased a new position in NexPoint Residential Trust during the second quarter worth about $32,000. Signaturefd LLC boosted its position in shares of NexPoint Residential Trust by 238.4% during the 2nd quarter. Signaturefd LLC now owns 1,039 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 732 shares during the period. Van ECK Associates Corp increased its holdings in NexPoint Residential Trust by 19.7% in the 4th quarter. Van ECK Associates Corp now owns 3,163 shares of the financial services provider’s stock valued at $109,000 after purchasing an additional 520 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in NexPoint Residential Trust by 40.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,107 shares of the financial services provider’s stock valued at $123,000 after purchasing an additional 900 shares during the period. Finally, Quest Partners LLC acquired a new position in NexPoint Residential Trust during the fourth quarter worth $140,000. 76.61% of the stock is 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.