Brokerages Set NexPoint Residential Trust, Inc. (NYSE:NXRT) Price Target at $46.83

NexPoint Residential Trust, Inc. (NYSE:NXRT) has earned a consensus recommendation of “Moderate Buy” from the five brokerages that are covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $49.00.

NXRT has been the subject of a number of analyst reports. StockNews.com downgraded NexPoint Residential Trust from a “hold” rating to a “sell” rating in a research note on Friday. Raymond James upgraded shares of NexPoint Residential Trust from a “market perform” rating to an “outperform” rating and set a $50.00 price target on the stock in a research report on Monday, October 21st. Truist Financial boosted their price objective on shares of NexPoint Residential Trust from $37.00 to $46.00 and gave the company a “hold” rating in a research report on Tuesday, August 27th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on NexPoint Residential Trust from $38.00 to $44.00 and gave the company a “hold” rating in a report on Tuesday, September 10th.

Hedge Funds Weigh In On NexPoint Residential Trust

A number of institutional investors and hedge funds have recently bought and sold shares of NXRT. Valley Wealth Managers Inc. bought a new stake in shares of NexPoint Residential Trust during the third quarter worth about $27,000. Point72 DIFC Ltd acquired a new stake in NexPoint Residential Trust during the 2nd quarter worth approximately $32,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in NexPoint Residential Trust by 34.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 900 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 232 shares during the last quarter. Signaturefd LLC raised its stake in shares of NexPoint Residential Trust by 238.4% during the second quarter. Signaturefd LLC now owns 1,039 shares of the financial services provider’s stock valued at $41,000 after acquiring an additional 732 shares during the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in shares of NexPoint Residential Trust during the third quarter worth $42,000. Institutional investors and hedge funds own 76.61% of the company’s stock.

NexPoint Residential Trust Price Performance

Shares of NexPoint Residential Trust stock opened at $42.52 on Wednesday. NexPoint Residential Trust has a twelve month low of $28.20 and a twelve month high of $48.37. The company has a 50-day simple moving average of $44.87 and a two-hundred day simple moving average of $43.27. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of 24.30, a price-to-earnings-growth ratio of 2.69 and a beta of 1.40. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 3.25.

NexPoint Residential Trust (NYSE:NXRT) last issued its quarterly earnings results on Tuesday, October 29th. The financial services provider reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($1.01). The company had revenue of $64.10 million for the quarter, compared to analyst estimates of $64.69 million. NexPoint Residential Trust had a return on equity of 9.54% and a net margin of 17.54%. During the same period in the prior year, the company earned $0.76 EPS. Analysts forecast that NexPoint Residential Trust will post 2.78 EPS for the current year.

NexPoint Residential Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 4.80%. This is a boost from NexPoint Residential Trust’s previous quarterly dividend of $0.46. The ex-dividend date is Friday, December 13th. NexPoint Residential Trust’s dividend payout ratio is presently 116.57%.

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.