NexPoint Residential Trust (NYSE:NXRT) Downgraded to “Sell” Rating by StockNews.com

StockNews.com lowered shares of NexPoint Residential Trust (NYSE:NXRT) from a hold rating to a sell rating in a research note released on Friday morning.

NXRT has been the topic of a number of other research reports. Deutsche Bank Aktiengesellschaft boosted their price target on shares of NexPoint Residential Trust from $38.00 to $44.00 and gave the stock a “hold” rating in a research report on Tuesday, September 10th. Raymond James upgraded shares of NexPoint Residential Trust from a “market perform” rating to an “outperform” rating and set a $50.00 target price on the stock in a report on Monday, October 21st. Finally, Truist Financial lifted their price objective on NexPoint Residential Trust from $37.00 to $46.00 and gave the stock a “hold” rating in a research report on Tuesday, August 27th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $49.00.

NexPoint Residential Trust Stock Performance

Shares of NexPoint Residential Trust stock opened at $42.52 on Friday. The stock has a market cap of $1.08 billion, a price-to-earnings ratio of 24.30, a P/E/G ratio of 2.69 and a beta of 1.40. NexPoint Residential Trust has a twelve month low of $28.20 and a twelve month high of $48.37. The company’s fifty day moving average is $44.87 and its 200 day moving average is $43.27. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 3.25.

NexPoint Residential Trust (NYSE:NXRT) last released its quarterly earnings results on Tuesday, October 29th. The financial services provider reported ($0.35) EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($1.01). The company had revenue of $64.10 million during the quarter, compared to the consensus estimate of $64.69 million. NexPoint Residential Trust had a net margin of 17.54% and a return on equity of 9.54%. During the same quarter last year, the firm posted $0.76 EPS. Sell-side analysts forecast that NexPoint Residential Trust will post 2.78 EPS for the current year.

NexPoint Residential Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 4.80%. This is an increase from NexPoint Residential Trust’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Friday, December 13th. NexPoint Residential Trust’s dividend payout ratio is presently 116.57%.

Hedge Funds Weigh In On NexPoint Residential Trust

Several hedge funds have recently modified their holdings of the company. Valley Wealth Managers Inc. bought a new position in shares of NexPoint Residential Trust in the third quarter valued at approximately $27,000. Point72 DIFC Ltd bought a new position in NexPoint Residential Trust in the 2nd quarter valued at $32,000. Mirae Asset Global Investments Co. Ltd. increased its position in shares of NexPoint Residential Trust by 34.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 900 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 232 shares during the last quarter. Signaturefd LLC raised its stake in shares of NexPoint Residential Trust by 238.4% during the 2nd quarter. Signaturefd LLC now owns 1,039 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 732 shares during the period. Finally, Meeder Asset Management Inc. purchased a new position in shares of NexPoint Residential Trust in the 3rd quarter worth about $42,000. Institutional investors own 76.61% of the company’s stock.

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.