NexPoint Residential Trust (NYSE:NXRT) Upgraded to Outperform by Raymond James

Raymond James upgraded shares of NexPoint Residential Trust (NYSE:NXRT) from a market perform rating to an outperform rating in a report issued on Monday, MarketBeat reports. The brokerage currently has $50.00 price objective on the financial services provider’s stock.

Other research analysts also recently issued research reports about the company. JMP Securities increased their price target on NexPoint Residential Trust from $40.00 to $50.00 and gave the company a “market outperform” rating in a research note on Friday, August 2nd. Truist Financial increased their target price on NexPoint Residential Trust from $37.00 to $46.00 and gave the company a “hold” rating in a research note on Tuesday, August 27th. Deutsche Bank Aktiengesellschaft raised their target price on NexPoint Residential Trust from $38.00 to $44.00 and gave the stock a “hold” rating in a report on Tuesday, September 10th. Finally, Compass Point increased their price target on shares of NexPoint Residential Trust from $45.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $46.83.

NexPoint Residential Trust Stock Performance

Shares of NYSE:NXRT opened at $44.07 on Monday. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 2.96. NexPoint Residential Trust has a 1-year low of $26.21 and a 1-year high of $48.37. The stock has a market capitalization of $1.13 billion, a P/E ratio of 15.57, a P/E/G ratio of 1.30 and a beta of 1.37. The business has a 50-day moving average price of $44.76 and a two-hundred day moving average price of $40.06.

NexPoint Residential Trust (NYSE:NXRT) last issued its quarterly earnings results on Tuesday, July 30th. The financial services provider reported $0.40 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.29). NexPoint Residential Trust had a return on equity of 17.69% and a net margin of 32.93%. The business had revenue of $64.24 million for the quarter, compared to analyst estimates of $64.99 million. During the same quarter in the prior year, the firm earned $0.88 EPS. Equities analysts predict that NexPoint Residential Trust will post 2.82 earnings per share for the current year.

NexPoint Residential Trust Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were paid a dividend of $0.462 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.85 dividend on an annualized basis and a yield of 4.19%. NexPoint Residential Trust’s payout ratio is 65.37%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Van ECK Associates Corp raised its holdings in shares of NexPoint Residential Trust by 7.3% during the second quarter. Van ECK Associates Corp now owns 3,473 shares of the financial services provider’s stock worth $137,000 after acquiring an additional 236 shares during the period. Creative Planning raised its position in NexPoint Residential Trust by 3.0% in the 3rd quarter. Creative Planning now owns 11,785 shares of the financial services provider’s stock valued at $519,000 after buying an additional 341 shares during the last quarter. Federated Hermes Inc. lifted its stake in NexPoint Residential Trust by 4.1% in the 2nd quarter. Federated Hermes Inc. now owns 9,094 shares of the financial services provider’s stock valued at $359,000 after acquiring an additional 359 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its position in NexPoint Residential Trust by 1.5% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 27,196 shares of the financial services provider’s stock worth $875,000 after acquiring an additional 399 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co grew its stake in shares of NexPoint Residential Trust by 1.0% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 47,286 shares of the financial services provider’s stock worth $1,521,000 after acquiring an additional 477 shares in the last quarter. Institutional investors and hedge funds 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.