NexPoint Residential Trust (NYSE:NXRT) Upgraded 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 Tuesday, Zacks.com reports. Zacks Investment Research currently has $52.00 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. “

NXRT has been the subject of several other research reports. LADENBURG THALM/SH SH raised their price objective on shares of NexPoint Residential Trust from $41.50 to $44.00 and gave the company a buy rating in a research report on Friday, May 31st. Raymond James raised their price objective on shares of NexPoint Residential Trust to $51.00 and gave the company a strong-buy rating in a research report on Monday, August 19th. Finally, Compass Point upgraded shares of NexPoint Residential Trust from a neutral rating to a buy rating and set a $46.50 price objective for the company in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $46.90.

Shares of NexPoint Residential Trust stock opened at $47.38 on Tuesday. The stock has a market capitalization of $1.12 billion, a P/E ratio of 23.36, a price-to-earnings-growth ratio of 2.45 and a beta of 0.39. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 3.60. The company has a 50-day simple moving average of $45.71 and a 200 day simple moving average of $40.83. NexPoint Residential Trust has a 12-month low of $31.64 and a 12-month high of $47.94.

NexPoint Residential Trust (NYSE:NXRT) last posted its quarterly earnings data on Tuesday, July 30th. The financial services provider reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.54). The company had revenue of $43.07 million during the quarter, compared to analyst estimates of $43.05 million. NexPoint Residential Trust had a negative net margin of 10.21% and a negative return on equity of 6.07%. On average, equities analysts anticipate that NexPoint Residential Trust will post 2 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be given a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 2.32%. The ex-dividend date is Thursday, September 12th. NexPoint Residential Trust’s payout ratio is presently 58.51%.

In related news, insider James D. Dondero acquired 500,000 shares of the stock in a transaction on Tuesday, July 23rd. The stock was purchased at an average price of $41.19 per share, for a total transaction of $20,595,000.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 21.49% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of NXRT. Dimensional Fund Advisors LP boosted its stake in shares of NexPoint Residential Trust by 12.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 248,144 shares of the financial services provider’s stock valued at $8,697,000 after purchasing an additional 26,759 shares during the last quarter. BNP Paribas Arbitrage SA boosted its stake in shares of NexPoint Residential Trust by 494.4% in the 1st quarter. BNP Paribas Arbitrage SA now owns 3,852 shares of the financial services provider’s stock valued at $148,000 after purchasing an additional 3,204 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of NexPoint Residential Trust in the 1st quarter valued at about $166,000. First Republic Investment Management Inc. bought a new position in shares of NexPoint Residential Trust in the 1st quarter valued at about $251,000. Finally, Rhumbline Advisers boosted its stake in shares of NexPoint Residential Trust by 4.8% in the 1st quarter. Rhumbline Advisers now owns 28,789 shares of the financial services provider’s stock valued at $1,104,000 after purchasing an additional 1,331 shares during the last quarter. 72.09% of the stock is currently owned by institutional investors.

About NexPoint Residential Trust

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.

Further Reading: What is the price-to-earnings growth (PEG) ratio?

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