Analysts expect NexPoint Residential Trust Inc (NYSE:NXRT) to announce sales of $36.40 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for NexPoint Residential Trust’s earnings, with the lowest sales estimate coming in at $35.78 million and the highest estimate coming in at $37.17 million. NexPoint Residential Trust posted sales of $32.60 million in the same quarter last year, which suggests a positive year over year growth rate of 11.7%. The business is scheduled to issue its next quarterly earnings report before the market opens on Tuesday, March 13th.
On average, analysts expect that NexPoint Residential Trust will report full year sales of $36.40 million for the current financial year, with estimates ranging from $145.38 million to $146.49 million. For the next year, analysts forecast that the firm will post sales of $149.49 million per share, with estimates ranging from $141.63 million to $156.54 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for NexPoint Residential Trust.
A number of research firms have issued reports on NXRT. B. Riley increased their price target on NexPoint Residential Trust from $27.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, November 1st. BidaskClub upgraded NexPoint Residential Trust from a “sell” rating to a “hold” rating in a research report on Friday, October 13th. Ladenburg Thalmann Financial Services reiterated a “buy” rating on shares of NexPoint Residential Trust in a research report on Thursday, November 2nd. FBR & Co assumed coverage on NexPoint Residential Trust in a research report on Thursday, October 26th. They set a “buy” rating and a $27.00 target price on the stock. Finally, Zacks Investment Research raised NexPoint Residential Trust from a “sell” rating to a “hold” rating in a report on Wednesday, October 11th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $28.50.
In other news, insider James D. Dondero purchased 18,000 shares of the stock in a transaction on Thursday, December 14th. The stock was purchased at an average price of $26.65 per share, with a total value of $479,700.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider James D. Dondero purchased 10,000 shares of the stock in a transaction on Monday, December 18th. The shares were purchased at an average cost of $28.50 per share, with a total value of $285,000.00. The disclosure for this purchase can be found here. Insiders purchased 86,553 shares of company stock valued at $2,360,392 over the last quarter. Insiders own 19.00% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the business. The Manufacturers Life Insurance Company boosted its position in shares of NexPoint Residential Trust by 2.7% in the second quarter. The Manufacturers Life Insurance Company now owns 14,817 shares of the financial services provider’s stock worth $369,000 after buying an additional 385 shares during the period. Boothbay Fund Management LLC acquired a new stake in shares of NexPoint Residential Trust in the third quarter valued at about $415,000. Alliancebernstein L.P. grew its position in shares of NexPoint Residential Trust by 15.1% in the second quarter. Alliancebernstein L.P. now owns 17,190 shares of the financial services provider’s stock valued at $428,000 after purchasing an additional 2,260 shares during the last quarter. Telemus Capital LLC acquired a new stake in shares of NexPoint Residential Trust in the fourth quarter valued at about $461,000. Finally, First Trust Advisors LP acquired a new stake in shares of NexPoint Residential Trust in the third quarter valued at about $478,000. 56.15% of the stock is owned by hedge funds and other institutional investors.
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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