NexPoint Residential Trust Inc (NASDAQ:NXRT) had its price target boosted by B. Riley from $27.00 to $28.00 in a research report sent to investors on Wednesday. They currently have a buy rating on the stock.
NXRT has been the topic of a number of other reports. BidaskClub raised shares of NexPoint Residential Trust from a sell rating to a hold rating in a research note on Tuesday, September 12th. Janney Montgomery Scott began coverage on shares of NexPoint Residential Trust in a research note on Friday, September 8th. They issued a neutral rating on the stock. FBR & Co began coverage on shares of NexPoint Residential Trust in a research note on Thursday, October 26th. They issued a buy rating and a $27.00 price target on the stock. Zacks Investment Research raised shares of NexPoint Residential Trust from a sell rating to a hold rating in a research note on Wednesday, October 11th. Finally, Canaccord Genuity set a $28.00 price target on shares of NexPoint Residential Trust and gave the company a buy rating in a research note on Tuesday, August 1st. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. NexPoint Residential Trust currently has a consensus rating of Buy and a consensus price target of $27.75.
NexPoint Residential Trust (NASDAQ:NXRT) last issued its quarterly earnings results on Tuesday, August 1st. The company reported $0.34 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.02). The company had revenue of $35.23 million during the quarter, compared to analysts’ expectations of $35.95 million. NexPoint Residential Trust had a net margin of 28.18% and a return on equity of 14.15%. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.37 earnings per share.
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The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 4.21%. This is a positive change from NexPoint Residential Trust’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Thursday, December 14th.
In other NexPoint Residential Trust news, insider James D. Dondero bought 1,100 shares of the firm’s stock in a transaction on Tuesday, October 10th. The shares were acquired at an average cost of $23.37 per share, with a total value of $25,707.00. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, insider James D. Dondero bought 12,600 shares of the firm’s stock in a transaction on Monday, August 7th. The stock was acquired at an average cost of $23.81 per share, for a total transaction of $300,006.00. Following the completion of the purchase, the insider now directly owns 5,202 shares in the company, valued at $123,859.62. The disclosure for this purchase can be found here. Insiders acquired a total of 16,700 shares of company stock worth $395,793 over the last three months.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. American International Group Inc. lifted its stake in NexPoint Residential Trust by 7.1% in the 1st quarter. American International Group Inc. now owns 11,059 shares of the company’s stock worth $267,000 after purchasing an additional 731 shares in the last quarter. Seizert Capital Partners LLC lifted its stake in NexPoint Residential Trust by 361.8% in the 2nd quarter. Seizert Capital Partners LLC now owns 118,244 shares of the company’s stock worth $2,943,000 after purchasing an additional 92,639 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in NexPoint Residential Trust by 2.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 182,979 shares of the company’s stock worth $4,555,000 after purchasing an additional 4,939 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in NexPoint Residential Trust by 66.8% in the 1st quarter. Ameriprise Financial Inc. now owns 24,048 shares of the company’s stock worth $581,000 after purchasing an additional 9,630 shares in the last quarter. Finally, Nationwide Fund Advisors lifted its stake in NexPoint Residential Trust by 84.3% in the 2nd quarter. Nationwide Fund Advisors now owns 52,484 shares of the company’s stock worth $1,306,000 after purchasing an additional 24,011 shares in the last quarter.
NexPoint Residential Trust Company Profile
NexPoint Residential Trust, Inc is an externally managed real estate investment trust (REIT). The Company’s investment objectives are to maximize the cash flow and value of properties owned, acquire properties with cash flow growth potential, provide quarterly cash distributions and achieve long-term capital appreciation for its stockholders through targeted management and a value-add program.
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