NexPoint Residential Trust (NYSE:NXRT) Receives New Coverage from Analysts at Credit Suisse Group

Credit Suisse Group began coverage on shares of NexPoint Residential Trust (NYSE:NXRTGet Rating) in a report issued on Wednesday morning, The Fly reports. The firm issued an outperform rating on the financial services provider’s stock.

NXRT has been the subject of a number of other reports. BTIG Research initiated coverage on NexPoint Residential Trust in a research note on Monday, May 9th. They set a neutral rating for the company. Compass Point set a $90.00 price objective on NexPoint Residential Trust in a research note on Monday. StockNews.com cut NexPoint Residential Trust from a hold rating to a sell rating in a report on Friday, June 17th. 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.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 30th. Investors of record on Wednesday, June 15th will be issued a $0.38 dividend. The ex-dividend date is Tuesday, June 14th. This represents a $1.52 dividend on an annualized basis and a yield of 2.58%. NexPoint Residential Trust’s dividend payout ratio is presently 156.70%.

In other news, 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 transaction of $99,880.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, President James D. Dondero acquired 17,050 shares of the firm’s stock in a transaction dated Thursday, June 16th. The shares were purchased at an average cost of $59.01 per share, for a total transaction of $1,006,120.50. Following the completion of the acquisition, the president now directly owns 2,033,188 shares in the company, valued at $119,978,423.88. The disclosure for this purchase can be found here. 12.69% of the stock is owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in the stock. Yousif Capital Management LLC raised its holdings in NexPoint Residential Trust by 0.6% during the 1st quarter. Yousif Capital Management LLC now owns 21,646 shares of the financial services provider’s stock valued at $1,955,000 after buying an additional 136 shares during the period. 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. Louisiana State Employees Retirement System raised its holdings in NexPoint Residential Trust by 1.4% during the 4th quarter. Louisiana State Employees Retirement System now owns 11,049 shares of the financial services provider’s stock valued at $926,000 after buying an additional 149 shares during the period. Legacy Wealth Asset Management LLC raised its holdings in NexPoint Residential Trust by 4.6% during the 1st quarter. Legacy Wealth Asset Management LLC now owns 3,434 shares of the financial services provider’s stock valued at $310,000 after buying an additional 150 shares during the period. Finally, Maryland State Retirement & Pension System raised its holdings in NexPoint Residential Trust by 1.7% during the 4th quarter. Maryland State Retirement & Pension System now owns 9,060 shares of the financial services provider’s stock valued at $759,000 after buying an additional 154 shares during the period. Institutional investors own 77.47% of the company’s stock.

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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