NexPoint Residential Trust (NYSE:NXRT) had its target price increased by research analysts at Raymond James to $51.00 in a research note issued to investors on Monday, The Fly reports. The brokerage presently has a “strong-buy” rating on the financial services provider’s stock. Raymond James’ price objective would indicate a potential upside of 10.29% from the company’s previous close.
Several other equities research analysts have also commented on the stock. LADENBURG THALM/SH SH boosted their target price on shares of NexPoint Residential Trust from $41.50 to $44.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Compass Point upgraded shares of NexPoint Residential Trust from a “neutral” rating to a “buy” rating and set a $46.50 target price on the stock in a research report on Wednesday, July 31st. Zacks Investment Research downgraded NexPoint Residential Trust from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Boenning Scattergood reaffirmed a “hold” rating on shares of NexPoint Residential Trust in a research note on Wednesday, May 1st. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $44.25.
Shares of NYSE NXRT opened at $46.24 on Monday. The firm has a market capitalization of $1.07 billion, a P/E ratio of 24.60, a PEG ratio of 2.36 and a beta of 0.41. NexPoint Residential Trust has a one year low of $31.40 and a one year high of $46.68. The company’s fifty day moving average is $43.39 and its two-hundred day moving average is $39.58. The company has a debt-to-equity ratio of 3.60, a quick ratio of 2.12 and a current ratio of 2.12.
In other news, insider James D. Dondero purchased 500,000 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The stock was acquired at an average price of $41.19 per share, with a total value of $20,595,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 21.49% of the company’s stock.
Several large investors have recently added to or reduced their stakes in NXRT. MUFG Americas Holdings Corp acquired a new position in NexPoint Residential Trust in the 2nd quarter valued at about $50,000. Quantamental Technologies LLC raised its stake in NexPoint Residential Trust by 318.1% in the 1st quarter. Quantamental Technologies LLC now owns 1,643 shares of the financial services provider’s stock valued at $63,000 after purchasing an additional 1,250 shares during the last quarter. Steward Partners Investment Advisory LLC acquired a new position in NexPoint Residential Trust in the 2nd quarter valued at about $82,000. Aperio Group LLC acquired a new position in NexPoint Residential Trust in the 2nd quarter valued at about $91,000. Finally, Royal Bank of Canada raised its stake in NexPoint Residential Trust by 35.5% in the 2nd quarter. Royal Bank of Canada now owns 2,305 shares of the financial services provider’s stock valued at $95,000 after purchasing an additional 604 shares during the last quarter. 66.22% of the stock is owned by institutional investors and hedge funds.
NexPoint Residential Trust Company Profile
NexPoint Residential Trust is a publicly traded REIT, with its shares listed on the New York Stock Exchange under the symbol "NXRT," primarily focused on acquiring, owning and operating well-located middle-income multifamily properties with "value-add" potential in large cities and suburban submarkets of large cities, primarily in the Southeastern and Southwestern United States.
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