B. Riley Reiterates “Buy” Rating for NexPoint Residential Trust, Inc. (NXRT)

NexPoint Residential Trust, Inc. (NYSE:NXRT)‘s stock had its “buy” rating restated by equities researchers at B. Riley in a research report issued on Thursday, November 2nd. They currently have a $28.00 target price on the financial services provider’s stock, up from their previous target price of $27.00. B. Riley’s price target indicates a potential downside of 4.01% from the stock’s current price.

A number of other brokerages have also weighed in on NXRT. BidaskClub lowered NexPoint Residential Trust from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Janney Montgomery Scott started coverage on NexPoint Residential Trust in a research note on Friday, September 8th. They issued a “neutral” rating on the stock. Ladenburg Thalmann Financial Services restated a “buy” rating on shares of NexPoint Residential Trust in a research note on Wednesday, August 2nd. Zacks Investment Research lowered NexPoint Residential Trust from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Finally, Canaccord Genuity set a $28.00 target price on NexPoint Residential Trust and gave the stock a “buy” rating in a research note on Tuesday, August 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $27.75.

Shares of NexPoint Residential Trust (NXRT) traded up $1.84 on Thursday, reaching $29.17. The company had a trading volume of 241,500 shares, compared to its average volume of 77,562. The stock has a market cap of $614.30 and a PE ratio of 17.30. The company has a debt-to-equity ratio of 3.09, a current ratio of 1.72 and a quick ratio of 1.72. NexPoint Residential Trust has a twelve month low of $19.17 and a twelve month high of $29.21.

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In other news, insider James D. Dondero acquired 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, for a total transaction of $25,707.00. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 16.60% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of NXRT. Bank of New York Mellon Corp boosted its holdings in NexPoint Residential Trust by 6.6% during the 1st quarter. Bank of New York Mellon Corp now owns 178,040 shares of the financial services provider’s stock valued at $4,302,000 after acquiring an additional 10,959 shares during the period. Ameriprise Financial Inc. boosted its holdings in NexPoint Residential Trust by 66.8% during the 1st quarter. Ameriprise Financial Inc. now owns 24,048 shares of the financial services provider’s stock valued at $581,000 after acquiring an additional 9,630 shares during the period. Parametric Portfolio Associates LLC boosted its holdings in NexPoint Residential Trust by 6.9% during the 1st quarter. Parametric Portfolio Associates LLC now owns 28,050 shares of the financial services provider’s stock valued at $678,000 after acquiring an additional 1,807 shares during the period. American International Group Inc. boosted its holdings in NexPoint Residential Trust by 7.1% during the 1st quarter. American International Group Inc. now owns 11,059 shares of the financial services provider’s stock valued at $267,000 after acquiring an additional 731 shares during the period. Finally, Alliancebernstein L.P. boosted its holdings in NexPoint Residential Trust by 17.6% during the 1st quarter. Alliancebernstein L.P. now owns 14,930 shares of the financial services provider’s stock valued at $361,000 after acquiring an additional 2,230 shares during the period. Institutional investors own 58.59% of the company’s stock.

About NexPoint Residential Trust

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.

Analyst Recommendations for NexPoint Residential Trust (NYSE:NXRT)

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