NexPoint Residential Trust Inc (NXRT) Downgraded by Zacks Investment Research to “Sell”

Zacks Investment Research cut shares of NexPoint Residential Trust Inc (NASDAQ:NXRT) from a hold rating to a sell rating in a research note issued to investors on Friday.

According to Zacks, “NexPoint Residential Trust, Inc. is engaged in acquiring, owning, operating and selectively developing multifamily properties. It operates primarily in the Southeastern United States and Texas. NexPoint Residential Trust, Inc. is based in Dallas, United States. “

A number of other equities research analysts have also issued reports on the stock. Ladenburg Thalmann Financial Services reiterated a buy rating on shares of NexPoint Residential Trust in a report on Thursday. B. Riley reissued a buy rating and issued a $28.00 price objective (up from $27.00) on shares of NexPoint Residential Trust in a research report on Thursday. FBR & Co began coverage on shares of NexPoint Residential Trust in a research report on Thursday, October 26th. They issued a buy rating and a $27.00 price objective on the stock. BidaskClub raised shares of NexPoint Residential Trust from a sell rating to a hold rating in a research report on Friday, October 13th. Finally, Janney Montgomery Scott began coverage on shares of NexPoint Residential Trust in a research report on Friday, September 8th. They issued a neutral rating on the stock. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $27.75.

NexPoint Residential Trust (NASDAQ:NXRT) traded down $0.03 during trading on Friday, reaching $26.71. 60,325 shares of the company’s stock were exchanged, compared to its average volume of 64,925. NexPoint Residential Trust has a 12 month low of $16.67 and a 12 month high of $26.88.

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The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be given a $0.25 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This is an increase from NexPoint Residential Trust’s previous quarterly dividend of $0.22. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.74%.

In other news, insider James D. Dondero acquired 1,100 shares of the company’s stock in a transaction on Tuesday, October 10th. The shares were bought at an average cost of $23.37 per share, with a total value of $25,707.00. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider James D. Dondero acquired 2,000 shares of the company’s stock in a transaction on Friday, August 11th. The stock was purchased at an average cost of $23.30 per share, for a total transaction of $46,600.00. Following the completion of the transaction, the insider now owns 30,725 shares in the company, valued at approximately $715,892.50. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 16,700 shares of company stock worth $395,793.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Chicago Equity Partners LLC purchased a new position in shares of NexPoint Residential Trust in the 2nd quarter valued at $209,000. Great West Life Assurance Co. Can grew its position in shares of NexPoint Residential Trust by 0.3% in the 2nd quarter. Great West Life Assurance Co. Can now owns 10,225 shares of the company’s stock valued at $254,000 after buying an additional 29 shares during the last quarter. American International Group Inc. grew its position in shares of NexPoint Residential Trust by 7.1% in the 1st quarter. American International Group Inc. now owns 11,059 shares of the company’s stock valued at $267,000 after buying an additional 731 shares during the last quarter. Alliancebernstein L.P. grew its position in shares of NexPoint Residential Trust by 17.6% in the 1st quarter. Alliancebernstein L.P. now owns 14,930 shares of the company’s stock valued at $361,000 after buying an additional 2,230 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in shares of NexPoint Residential Trust by 2.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 14,817 shares of the company’s stock valued at $369,000 after buying an additional 385 shares during the last quarter.

About NexPoint Residential Trust

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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