NexPoint Residential Trust Inc (NASDAQ:NXRT) Downgraded to “Sell” at BidaskClub

BidaskClub downgraded shares of NexPoint Residential Trust Inc (NASDAQ:NXRT) from a hold rating to a sell rating in a report issued on Friday, October 6th.

Other research analysts also recently issued reports about the stock. Janney Montgomery Scott started coverage on shares of NexPoint Residential Trust in a research report on Friday, September 8th. They set a neutral rating on the stock. Zacks Investment Research downgraded shares of NexPoint Residential Trust from a hold rating to a strong sell rating in a research report on Friday, August 4th. Ladenburg Thalmann Financial Services reissued a buy rating on shares of NexPoint Residential Trust in a research report on Wednesday, August 2nd. Finally, Canaccord Genuity set a $28.00 price objective on shares of NexPoint Residential Trust and gave the company a buy rating in a research report on Tuesday, August 1st. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of Hold and an average price target of $28.00.

NexPoint Residential Trust (NASDAQ NXRT) opened at 24.45 on Friday. The firm has a market capitalization of $514.50 million and a PE ratio of 46.48. The firm has a 50-day moving average of $23.56 and a 200 day moving average of $24.45. NexPoint Residential Trust has a 12 month low of $16.67 and a 12 month high of $26.10.

NexPoint Residential Trust (NASDAQ:NXRT) last posted its quarterly earnings results on Tuesday, August 1st. The company reported $0.34 EPS for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.02). NexPoint Residential Trust had a net margin of 28.18% and a return on equity of 14.15%. The firm had revenue of $35.23 million for the quarter, compared to the consensus estimate of $35.95 million. During the same quarter in the prior year, the company earned $0.37 earnings per share. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. Equities research analysts forecast that NexPoint Residential Trust will post ($0.10) earnings per share for the current year.

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The business also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date was Thursday, September 14th.

In other NexPoint Residential Trust news, insider James D. Dondero bought 1,100 shares of NexPoint Residential Trust stock in a transaction dated Tuesday, October 10th. The shares were purchased at an average cost of $23.37 per share, with a total value of $25,707.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider James D. Dondero bought 12,600 shares of NexPoint Residential Trust stock in a transaction dated Monday, August 7th. The stock was acquired at an average cost of $23.81 per share, for a total transaction of $300,006.00. Following the completion of the transaction, the insider now directly owns 5,202 shares in the company, valued at $123,859.62. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 58,600 shares of company stock worth $1,413,125.

Large investors have recently added to or reduced their stakes in the company. Chicago Equity Partners LLC purchased a new stake in shares of NexPoint Residential Trust in the 2nd quarter worth about $209,000. Great West Life Assurance Co. Can grew its position in shares of NexPoint Residential Trust by 0.3% in the 2nd quarter. Great West Life Assurance Co. Can now owns 10,225 shares of the company’s stock worth $254,000 after buying an additional 29 shares during the period. American International Group Inc. grew its position in shares of NexPoint Residential Trust by 7.1% in the 1st quarter. American International Group Inc. now owns 11,059 shares of the company’s stock worth $267,000 after buying an additional 731 shares during the period. Virginia Retirement Systems ET AL purchased a new stake in shares of NexPoint Residential Trust in the 1st quarter worth about $348,000. Finally, The Manufacturers Life Insurance Company grew its position in shares of NexPoint Residential Trust by 2.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 14,817 shares of the company’s stock worth $369,000 after buying an additional 385 shares during the period.

NexPoint Residential Trust Company Profile

NexPoint Residential Trust, Inc is an externally managed real estate investment trust (REIT). The Company’s investment objectives are to maximize the cash flow and value of properties owned, acquire properties with cash flow growth potential, provide quarterly cash distributions and achieve long-term capital appreciation for its stockholders through targeted management and a value-add program.

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