Brokerages Set NexPoint Residential Trust, Inc. (NYSE:NXRT) Target Price at $46.33

Shares of NexPoint Residential Trust, Inc. (NYSE:NXRT) have been assigned a consensus rating of “Moderate Buy” from the six analysts that are covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $46.33.

NXRT has been the subject of a number of analyst reports. Raymond James decreased their price target on NexPoint Residential Trust from $50.00 to $44.00 and set an “outperform” rating for the company in a report on Thursday, March 20th. StockNews.com lowered shares of NexPoint Residential Trust from a “hold” rating to a “sell” rating in a report on Saturday, March 1st. Jefferies Financial Group boosted their price target on NexPoint Residential Trust from $41.00 to $43.00 and gave the stock a “hold” rating in a research note on Monday, March 10th. Finally, Truist Financial lifted their price objective on NexPoint Residential Trust from $41.00 to $42.00 and gave the stock a “hold” rating in a report on Monday, March 10th.

Insider Activity at NexPoint Residential Trust

In other news, insider Paul Richards purchased 5,814 shares of the stock in a transaction dated Monday, April 7th. The stock was acquired at an average price of $33.24 per share, for a total transaction of $193,257.36. Following the completion of the transaction, the insider now owns 18,493 shares of the company’s stock, valued at approximately $614,707.32. The trade was a 45.86 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 15.36% of the company’s stock.

Hedge Funds Weigh In On NexPoint Residential Trust

Several hedge funds and other institutional investors have recently made changes to their positions in NXRT. Jane Street Group LLC boosted its holdings in shares of NexPoint Residential Trust by 160.3% in the third quarter. Jane Street Group LLC now owns 58,040 shares of the financial services provider’s stock valued at $2,554,000 after acquiring an additional 35,741 shares in the last quarter. Geode Capital Management LLC grew its position in NexPoint Residential Trust by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 576,084 shares of the financial services provider’s stock worth $25,358,000 after purchasing an additional 2,740 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in NexPoint Residential Trust during the fourth quarter valued at $458,000. Franklin Resources Inc. increased its holdings in shares of NexPoint Residential Trust by 164.0% in the 3rd quarter. Franklin Resources Inc. now owns 34,865 shares of the financial services provider’s stock valued at $1,506,000 after purchasing an additional 21,660 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in NexPoint Residential Trust by 16.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 117,090 shares of the financial services provider’s stock valued at $5,153,000 after buying an additional 16,746 shares during the period. 76.61% of the stock is currently owned by institutional investors and hedge funds.

NexPoint Residential Trust Price Performance

Shares of NYSE NXRT opened at $36.50 on Tuesday. The company has a debt-to-equity ratio of 3.25, a current ratio of 1.79 and a quick ratio of 1.79. NexPoint Residential Trust has a 1-year low of $30.98 and a 1-year high of $48.37. The company has a market capitalization of $931.99 million, a price-to-earnings ratio of 20.86, a PEG ratio of 2.34 and a beta of 1.18. The business has a 50-day moving average of $38.12 and a 200-day moving average of $41.04.

NexPoint Residential Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a dividend of $0.51 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $2.04 annualized dividend and a yield of 5.59%. NexPoint Residential Trust’s payout ratio is -20,400.00%.

About NexPoint Residential Trust

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.