ValuEngine Lowers NexPoint Residential Trust (NXRT) to Hold

ValuEngine lowered shares of NexPoint Residential Trust (NYSE:NXRT) from a buy rating to a hold rating in a research note released on Friday.

Several other equities analysts have also recently weighed in on NXRT. Zacks Investment Research cut NexPoint Residential Trust from a hold rating to a strong sell rating in a report on Friday, August 4th. Janney Montgomery Scott started coverage on NexPoint Residential Trust in a report on Friday, September 8th. They set a neutral rating for the company. BidaskClub upgraded NexPoint Residential Trust from a sell rating to a hold rating in a report on Tuesday, September 12th. FBR & Co assumed coverage on NexPoint Residential Trust in a report on Thursday, October 26th. They issued a buy rating and a $27.00 target price for the company. Finally, B. Riley lifted their target price on NexPoint Residential Trust from $27.00 to $28.00 and gave the stock a buy rating in a report on Wednesday, November 1st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. NexPoint Residential Trust currently has an average rating of Hold and a consensus target price of $27.75.

NexPoint Residential Trust (NYSE NXRT) traded up $0.23 during midday trading on Friday, reaching $28.37. The company’s stock had a trading volume of 115,600 shares, compared to its average volume of 78,557. The stock has a market cap of $597.45, a PE ratio of 17.96, a PEG ratio of 4.89 and a beta of 0.93. The company has a debt-to-equity ratio of 3.09, a current ratio of 1.72 and a quick ratio of 1.72. NexPoint Residential Trust has a fifty-two week low of $19.81 and a fifty-two week high of $29.28.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be issued a $0.25 dividend. This is a boost from NexPoint Residential Trust’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.52%. NexPoint Residential Trust’s payout ratio is 32.71%.

In related news, insider James D. Dondero bought 1,100 shares of the company’s stock in a transaction dated Tuesday, October 10th. The stock was purchased at an average price of $23.37 per share, for a total transaction of $25,707.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 19.00% of the stock is currently owned by insiders.

Several hedge funds have recently modified their holdings of NXRT. Numeric Investors LLC lifted its stake in shares of NexPoint Residential Trust by 61.0% during the 2nd quarter. Numeric Investors LLC now owns 547,597 shares of the financial services provider’s stock worth $13,630,000 after acquiring an additional 207,460 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of NexPoint Residential Trust by 7.1% during the 1st quarter. Vanguard Group Inc. now owns 2,015,961 shares of the financial services provider’s stock worth $48,706,000 after acquiring an additional 134,077 shares during the last quarter. Boston Partners lifted its stake in shares of NexPoint Residential Trust by 89.0% during the 3rd quarter. Boston Partners now owns 275,200 shares of the financial services provider’s stock worth $6,530,000 after acquiring an additional 129,600 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of NexPoint Residential Trust by 19.8% during the 2nd quarter. Renaissance Technologies LLC now owns 780,100 shares of the financial services provider’s stock worth $19,417,000 after acquiring an additional 129,000 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in shares of NexPoint Residential Trust by 109.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 220,919 shares of the financial services provider’s stock worth $5,242,000 after acquiring an additional 115,368 shares during the last quarter. 56.62% of the stock is owned by hedge funds and other institutional investors.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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