NexPoint Residential Trust (NYSE:NXRT) Price Target Raised to $46.00 at Truist Financial

NexPoint Residential Trust (NYSE:NXRT) had its target price lifted by research analysts at Truist Financial from $37.00 to $46.00 in a research report issued on Tuesday, Benzinga reports. The firm presently has a “hold” rating on the financial services provider’s stock. Truist Financial’s price target would indicate a potential upside of 0.17% from the stock’s previous close.

A number of other research analysts also recently issued reports on NXRT. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $38.00 price target on shares of NexPoint Residential Trust in a report on Tuesday, June 11th. Compass Point raised their price target on shares of NexPoint Residential Trust from $45.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Raymond James raised shares of NexPoint Residential Trust from an “underperform” rating to a “market perform” rating in a report on Friday, May 24th. Finally, JMP Securities increased their price objective on shares of NexPoint Residential Trust from $40.00 to $50.00 and gave the company a “market outperform” rating in a research report on Friday, August 2nd. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $45.00.

NexPoint Residential Trust Stock Up 0.6 %

NYSE:NXRT opened at $45.92 on Tuesday. The company has a debt-to-equity ratio of 2.96, a quick ratio of 2.66 and a current ratio of 2.00. The firm has a market cap of $1.18 billion, a P/E ratio of 16.23, a P/E/G ratio of 1.31 and a beta of 1.35. NexPoint Residential Trust has a fifty-two week low of $26.21 and a fifty-two week high of $46.37. The firm has a 50-day simple moving average of $41.52 and a two-hundred day simple moving average of $35.98.

NexPoint Residential Trust (NYSE:NXRT) last posted its quarterly earnings results on Tuesday, July 30th. The financial services provider reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.29). NexPoint Residential Trust had a net margin of 32.93% and a return on equity of 17.69%. The firm had revenue of $64.24 million for the quarter, compared to analysts’ expectations of $64.99 million. During the same quarter in the previous year, the company earned $0.88 EPS. Analysts predict that NexPoint Residential Trust will post 2.86 earnings per share for the current fiscal year.

Insider Buying and Selling at NexPoint Residential Trust

In related news, insider Brian Mitts sold 2,000 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $39.40, for a total value of $78,800.00. Following the transaction, the insider now directly owns 65,696 shares of the company’s stock, valued at approximately $2,588,422.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 12.96% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On NexPoint Residential Trust

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Burford Brothers Inc. purchased a new stake in NexPoint Residential Trust in the 4th quarter worth $855,000. Louisiana State Employees Retirement System purchased a new stake in shares of NexPoint Residential Trust during the fourth quarter worth about $401,000. Federated Hermes Inc. raised its stake in NexPoint Residential Trust by 12.3% during the 4th quarter. Federated Hermes Inc. now owns 8,059 shares of the financial services provider’s stock valued at $277,000 after purchasing an additional 884 shares during the period. Quest Partners LLC bought a new stake in NexPoint Residential Trust during the 4th quarter valued at approximately $140,000. Finally, Van ECK Associates Corp lifted 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 purchasing an additional 520 shares in the last quarter. 76.61% of the stock is owned by hedge funds and other 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.