Truist Financial Boosts NexPoint Residential Trust (NYSE:NXRT) Price Target to $49.00

NexPoint Residential Trust (NYSE:NXRTGet Rating) had its price target hoisted by Truist Financial from $46.00 to $49.00 in a research note issued to investors on Thursday, The Fly reports.

NXRT has been the topic of a number of other research reports. Credit Suisse Group downgraded NexPoint Residential Trust from an outperform rating to a neutral rating and set a $47.00 target price on the stock. in a report on Monday, January 9th. TheStreet cut NexPoint Residential Trust from a c rating to a d+ rating in a research report on Tuesday, February 21st. Finally, StockNews.com began coverage on NexPoint Residential Trust in a research report on Thursday. They set a sell rating on the stock. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Hold and an average target price of $60.20.

NexPoint Residential Trust Trading Down 3.2 %

NYSE:NXRT opened at $42.25 on Thursday. The company has a quick ratio of 2.51, a current ratio of 2.51 and a debt-to-equity ratio of 3.21. The business’s 50 day moving average is $47.29 and its two-hundred day moving average is $46.52. NexPoint Residential Trust has a 52 week low of $38.67 and a 52 week high of $95.04.

NexPoint Residential Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Wednesday, March 15th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.98%. The ex-dividend date of this dividend is Tuesday, March 14th. NexPoint Residential Trust’s payout ratio is -479.99%.

Institutional Trading of NexPoint Residential Trust

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Copeland Capital Management LLC increased its position in NexPoint Residential Trust by 40.4% in the 4th quarter. Copeland Capital Management LLC now owns 1,052,260 shares of the financial services provider’s stock valued at $45,794,000 after acquiring an additional 302,858 shares during the period. Federated Hermes Inc. increased its position in NexPoint Residential Trust by 192.6% in the 1st quarter. Federated Hermes Inc. now owns 401,807 shares of the financial services provider’s stock valued at $36,287,000 after acquiring an additional 264,502 shares during the period. Millennium Management LLC increased its position in NexPoint Residential Trust by 103.3% in the 4th quarter. Millennium Management LLC now owns 339,278 shares of the financial services provider’s stock valued at $14,765,000 after acquiring an additional 172,386 shares during the period. State Street Corp increased its position in NexPoint Residential Trust by 10.7% in the 1st quarter. State Street Corp now owns 1,364,076 shares of the financial services provider’s stock valued at $123,190,000 after acquiring an additional 131,447 shares during the period. Finally, T. Rowe Price Investment Management Inc. increased its position in NexPoint Residential Trust by 34.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 402,035 shares of the financial services provider’s stock valued at $17,497,000 after acquiring an additional 102,297 shares during the period. 77.28% of the stock is currently owned by institutional investors and hedge funds.

NexPoint Residential Trust Company Profile

(Get Rating)

NexPoint Residential Trust, Inc engages in the acquisition, management, and disposition of multifamily assets. It also focuses on providing lifestyle amenities and upgraded living spaces to low and moderate income renters in the Southeastern United States and Texas. The company was founded on September 19, 2014 and is headquartered in Dallas, TX.

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