NexPoint Residential Trust (NYSE:NXRT) Coverage Initiated at Credit Suisse Group

Equities research analysts at Credit Suisse Group started coverage on shares of NexPoint Residential Trust (NYSE:NXRT – Get Rating) in a research note issued to investors on Wednesday, The Fly reports. The firm set an “outperform” rating on the financial services provider’s stock.

NXRT has been the subject of a number of other reports. StockNews.com downgraded NexPoint Residential Trust from a “hold” rating to a “sell” rating in a research note on Friday, June 17th. Compass Point set a $90.00 price objective on NexPoint Residential Trust in a research note on Monday. BTIG Research started coverage on NexPoint Residential Trust in a report on Monday, May 9th. They issued a “neutral” rating on the stock. Finally, Raymond James boosted their price target on NexPoint Residential Trust from $67.00 to $95.00 and gave the stock an “outperform” rating in a report on Tuesday, February 22nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, NexPoint Residential Trust presently has an average rating of “Hold” and an average price target of $91.00.

Shares of NYSE:NXRT opened at $58.86 on Wednesday. The stock has a 50 day moving average of $76.02 and a 200 day moving average of $80.52. The company has a market cap of $1.51 billion, a PE ratio of 60.68, a price-to-earnings-growth ratio of 2.38 and a beta of 0.98. The company has a current ratio of 6.09, a quick ratio of 6.10 and a debt-to-equity ratio of 3.14. NexPoint Residential Trust has a 12-month low of $53.61 and a 12-month high of $95.04.

In other news, President James D. Dondero acquired 17,050 shares of the firm’s stock in a transaction dated Thursday, June 16th. The shares were acquired at an average cost of $59.01 per share, with a total value of $1,006,120.50. Following the acquisition, the president now directly owns 2,033,188 shares of the company’s stock, valued at $119,978,423.88. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Brian Mitts sold 1,100 shares of the company’s stock in a transaction that occurred on Tuesday, March 29th. The stock was sold at an average price of $90.80, for a total value of $99,880.00. The disclosure for this sale can be found here. 12.69% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. National Bank of Canada FI purchased a new stake in NexPoint Residential Trust during the 4th quarter valued at $25,000. Point72 Hong Kong Ltd purchased a new stake in NexPoint Residential Trust during the 3rd quarter valued at $26,000. Huntington National Bank raised its holdings in NexPoint Residential Trust by 28.4% during the 4th quarter. Huntington National Bank now owns 655 shares of the financial services provider’s stock valued at $55,000 after buying an additional 145 shares during the period. Joseph P. Lucia & Associates LLC purchased a new stake in NexPoint Residential Trust during the 1st quarter valued at $90,000. Finally, Meeder Asset Management Inc. purchased a new stake in NexPoint Residential Trust during the 1st quarter valued at $101,000. 77.47% of the stock is currently owned by institutional investors and hedge funds.

About NexPoint Residential Trust (Get Rating)

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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