NexPoint Residential Trust (NXRT) Raised to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of NexPoint Residential Trust (NYSE:NXRT) from a hold rating to a buy rating in a research report report published on Saturday. The firm currently has $30.00 price objective on the financial services provider’s stock.

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. “

Several other research analysts have also recently commented on the stock. ValuEngine cut shares of NexPoint Residential Trust from a buy rating to a hold rating in a report on Friday, December 1st. Ladenburg Thalmann Financial Services restated a buy rating on shares of NexPoint Residential Trust in a report on Thursday, November 2nd. B. Riley restated a buy rating and set a $28.00 target price (up previously from $27.00) on shares of NexPoint Residential Trust in a report on Thursday, November 2nd. FBR & Co restated a buy rating and set a $27.00 target price on shares of NexPoint Residential Trust in a report on Thursday, October 26th. Finally, BidaskClub upgraded shares of NexPoint Residential Trust from a sell rating to a hold rating in a report on Friday, October 13th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of Buy and a consensus price target of $28.25.

Shares of NexPoint Residential Trust (NYSE NXRT) traded up $0.51 on Friday, reaching $27.54. 94,630 shares of the company traded hands, compared to its average volume of 126,429. NexPoint Residential Trust has a fifty-two week low of $22.28 and a fifty-two week high of $29.40. The firm has a market capitalization of $579.96, a PE ratio of 10.24, a price-to-earnings-growth ratio of 3.27 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.

The firm also recently announced a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Friday, December 15th were issued a dividend of $0.25 per share. This is a boost from NexPoint Residential Trust’s previous quarterly dividend of $0.22. The ex-dividend date was Thursday, December 14th. This represents a $1.00 annualized dividend and a yield of 3.63%. NexPoint Residential Trust’s dividend payout ratio is presently 37.17%.

In other news, insider James D. Dondero purchased 18,000 shares of the business’s stock in a transaction on Thursday, December 14th. The stock was purchased at an average price of $26.65 per share, for a total transaction of $479,700.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider James D. Dondero purchased 10,000 shares of the business’s stock in a transaction on Monday, December 18th. The stock was purchased at an average price of $28.50 per share, with a total value of $285,000.00. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 29,100 shares of company stock valued at $790,407. Corporate insiders own 19.00% of the company’s stock.

A number of hedge funds have recently made changes to their positions in NXRT. Numeric Investors LLC lifted its stake in NexPoint Residential Trust by 61.0% in the second quarter. Numeric Investors LLC now owns 547,597 shares of the financial services provider’s stock valued at $13,630,000 after acquiring an additional 207,460 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 buying 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 buying an additional 129,000 shares during the last quarter. 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 buying an additional 115,368 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in shares of NexPoint Residential Trust by 44.7% during the 2nd quarter. Principal Financial Group Inc. now owns 300,434 shares of the financial services provider’s stock worth $7,478,000 after buying an additional 92,818 shares during the last quarter. Hedge funds and other institutional investors own 56.62% of the company’s stock.

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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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