Brokerages Set NexPoint Residential Trust, Inc. (NYSE:NXRT) Target Price at $46.83

NexPoint Residential Trust, Inc. (NYSE:NXRT) has earned an average rating of “Moderate Buy” from the five analysts that are presently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year price target among analysts that have covered the stock in the last year is $49.00.

A number of brokerages have weighed in on NXRT. Truist Financial lifted their target price on NexPoint Residential Trust from $37.00 to $46.00 and gave the stock a “hold” rating in a report on Tuesday, August 27th. Deutsche Bank Aktiengesellschaft increased their target price on shares of NexPoint Residential Trust from $38.00 to $44.00 and gave the stock a “hold” rating in a research note 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 price objective on the stock in a report on Monday, October 21st. Finally, StockNews.com downgraded NexPoint Residential Trust from a “hold” rating to a “sell” rating in a research note on Friday.

NexPoint Residential Trust Trading Up 2.1 %

NYSE:NXRT opened at $42.52 on Wednesday. NexPoint Residential Trust has a 52 week low of $28.20 and a 52 week high of $48.37. The company has a debt-to-equity ratio of 3.25, a quick ratio of 1.79 and a current ratio of 1.79. The firm’s fifty day moving average is $44.87 and its 200-day moving average is $43.27. The firm has a market cap of $1.08 billion, a P/E ratio of 24.30, a P/E/G ratio of 2.69 and a beta of 1.40.

NexPoint Residential Trust (NYSE:NXRT) last issued 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). NexPoint Residential Trust had a net margin of 17.54% and a return on equity of 9.54%. The firm had revenue of $64.10 million for the quarter, compared to the consensus estimate of $64.69 million. During the same period last year, the company posted $0.76 EPS. Equities analysts expect that NexPoint Residential Trust will post 2.78 earnings per share for the current year.

NexPoint Residential Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be issued a dividend of $0.51 per share. This is a boost from NexPoint Residential Trust’s previous quarterly dividend of $0.46. This represents a $2.04 dividend on an annualized basis and a dividend yield of 4.80%. The ex-dividend date is Friday, December 13th. NexPoint Residential Trust’s dividend payout ratio (DPR) is currently 116.57%.

Institutional Investors Weigh In On NexPoint Residential Trust

A number of institutional investors and hedge funds have recently made changes to their positions in NXRT. Long Pond Capital LP acquired a new position in NexPoint Residential Trust during the 2nd quarter valued at about $24,273,000. Geode Capital Management LLC raised its position in NexPoint Residential Trust by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 576,084 shares of the financial services provider’s stock valued at $25,358,000 after buying an additional 2,740 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in NexPoint Residential Trust by 7.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 339,138 shares of the financial services provider’s stock valued at $13,399,000 after acquiring an additional 23,888 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in NexPoint Residential Trust by 2.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 332,680 shares of the financial services provider’s stock worth $14,641,000 after acquiring an additional 8,795 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of NexPoint Residential Trust by 4.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 244,264 shares of the financial services provider’s stock worth $9,651,000 after acquiring an additional 9,297 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.