NexPoint Residential Trust (NYSE:NXRT) Lifted to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of NexPoint Residential Trust (NYSE:NXRT) from a sell rating to a hold rating in a research note published on Tuesday, Zacks.com reports.

According to Zacks, “NexPoint Residential Trust, Inc. is engaged in acquiring, owning, operating and selectively developing multifamily properties. It operates primarily in the Southeastern United States and Texas. NexPoint Residential Trust, Inc. is based in Dallas, United States. “

Separately, Raymond James upped their target price on shares of NexPoint Residential Trust from $49.00 to $53.00 and gave the company an outperform rating in a research note on Tuesday, April 6th.

Shares of NXRT stock opened at $56.80 on Tuesday. The stock has a market capitalization of $1.43 billion, a P/E ratio of 153.51 and a beta of 0.96. The company has a fifty day moving average price of $50.27. The company has a quick ratio of 2.86, a current ratio of 2.86 and a debt-to-equity ratio of 3.18. NexPoint Residential Trust has a twelve month low of $32.37 and a twelve month high of $56.96.

NexPoint Residential Trust (NYSE:NXRT) last announced its earnings results on Tuesday, April 27th. The financial services provider reported ($0.27) earnings per share for the quarter, beating the consensus estimate of ($0.30) by $0.03. NexPoint Residential Trust had a net margin of 4.48% and a return on equity of 2.32%. As a group, research analysts forecast that NexPoint Residential Trust will post 2.38 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 30th. Investors of record on Tuesday, June 15th will be issued a $0.341 dividend. The ex-dividend date of this dividend is Monday, June 14th. This represents a $1.36 annualized dividend and a yield of 2.40%. NexPoint Residential Trust’s dividend payout ratio is presently 55.47%.

In related news, insider Brian Mitts sold 1,000 shares of the company’s stock in a transaction on Monday, May 17th. The shares were sold at an average price of $50.35, for a total value of $50,350.00. Following the sale, the insider now directly owns 57,773 shares of the company’s stock, valued at $2,908,870.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 3,000 shares of company stock worth $152,340 over the last ninety days. 12.20% of the stock is currently owned by corporate insiders.

Several large investors have recently modified their holdings of the business. Oregon Public Employees Retirement Fund raised its holdings in shares of NexPoint Residential Trust by 2.2% during the first quarter. Oregon Public Employees Retirement Fund now owns 9,162 shares of the financial services provider’s stock worth $422,000 after purchasing an additional 200 shares during the period. Mutual of America Capital Management LLC raised its holdings in shares of NexPoint Residential Trust by 8.9% during the first quarter. Mutual of America Capital Management LLC now owns 3,013 shares of the financial services provider’s stock worth $139,000 after purchasing an additional 247 shares during the period. Fieldpoint Private Securities LLC raised its holdings in shares of NexPoint Residential Trust by 45.6% during the first quarter. Fieldpoint Private Securities LLC now owns 837 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 262 shares during the period. State of Alaska Department of Revenue raised its holdings in shares of NexPoint Residential Trust by 1.3% during the first quarter. State of Alaska Department of Revenue now owns 23,755 shares of the financial services provider’s stock worth $1,093,000 after purchasing an additional 310 shares during the period. Finally, Catalyst Capital Advisors LLC raised its holdings in shares of NexPoint Residential Trust by 70.8% during the first quarter. Catalyst Capital Advisors LLC now owns 820 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 340 shares during the period. 75.69% of the stock is currently owned by institutional investors.

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.

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