NexPoint Residential Trust (NYSE:NXRT) Lifted to “Market Perform” at Raymond James

Raymond James upgraded shares of NexPoint Residential Trust (NYSE:NXRT) from an underperform rating to a market perform rating in a research note released on Friday morning, MarketBeat Ratings reports.

A number of other brokerages have also weighed in on NXRT. JMP Securities restated a market outperform rating and issued a $40.00 price objective on shares of NexPoint Residential Trust in a report on Wednesday, March 6th. Truist Financial decreased their price objective on shares of NexPoint Residential Trust from $37.00 to $35.00 and set a hold rating for the company in a report on Tuesday, April 9th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of NexPoint Residential Trust in a report on Tuesday, January 30th. They issued a buy rating and a $38.00 price objective for the company. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Hold and a consensus target price of $37.25.

NexPoint Residential Trust Stock Performance

Shares of NXRT opened at $36.54 on Friday. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 2.90. The business’s 50 day moving average price is $33.18 and its 200-day moving average price is $32.20. NexPoint Residential Trust has a 52 week low of $26.21 and a 52 week high of $49.87. The stock has a market cap of $937.98 million, a P/E ratio of 12.91, a P/E/G ratio of 1.10 and a beta of 1.25.

NexPoint Residential Trust Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a dividend of $0.4624 per share. The ex-dividend date of this dividend is Friday, June 14th. This is a positive change from NexPoint Residential Trust’s previous quarterly dividend of $0.46. This represents a $1.85 dividend on an annualized basis and a yield of 5.06%. NexPoint Residential Trust’s payout ratio is currently 65.37%.

Insider Buying and Selling at NexPoint Residential Trust

In other news, insider Brian Mitts sold 5,000 shares of the business’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $34.25, for a total transaction of $171,250.00. Following the completion of the sale, the insider now owns 66,947 shares of the company’s stock, valued at approximately $2,292,934.75. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 12.96% of the company’s stock.

Institutional Investors Weigh In On NexPoint Residential Trust

A number of hedge funds have recently modified their holdings of NXRT. SRS Capital Advisors Inc. grew its position in shares of NexPoint Residential Trust by 176.1% during the 4th quarter. SRS Capital Advisors Inc. now owns 903 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 576 shares during the period. Van ECK Associates Corp boosted its holdings in NexPoint Residential Trust by 19.7% in the 4th quarter. Van ECK Associates Corp now owns 3,163 shares of the financial services provider’s stock worth $109,000 after buying an additional 520 shares during the period. Quest Partners LLC bought a new position in NexPoint Residential Trust in the 4th quarter worth $140,000. Price T Rowe Associates Inc. MD bought a new position in NexPoint Residential Trust in the 1st quarter worth $212,000. Finally, Daiwa Securities Group Inc. boosted its holdings in NexPoint Residential Trust by 8.9% in the 1st quarter. Daiwa Securities Group Inc. now owns 7,436 shares of the financial services provider’s stock worth $239,000 after buying an additional 610 shares during the period. Institutional investors own 76.61% of the company’s stock.

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.