Brokerages Set NexPoint Residential Trust, Inc. (NYSE:NXRT) Price Target at $37.75

Shares of NexPoint Residential Trust, Inc. (NYSE:NXRT) have earned an average recommendation of “Hold” from the five research firms that are covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $37.75.

A number of research analysts have recently issued reports on NXRT shares. JMP Securities restated a “market outperform” rating and issued a $40.00 price target on shares of NexPoint Residential Trust in a research report on Wednesday, March 6th. Raymond James upgraded shares of NexPoint Residential Trust from an “underperform” rating to a “market perform” rating in a report on Friday, May 24th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $38.00 price target on shares of NexPoint Residential Trust in a report on Tuesday, June 11th. Finally, Truist Financial boosted their price objective on NexPoint Residential Trust from $34.00 to $37.00 and gave the company a “hold” rating in a research note on Monday, June 24th.

Insider Buying and Selling

In related news, insider Brian Mitts sold 5,000 shares of NexPoint Residential Trust stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $34.25, for a total value of $171,250.00. Following the completion of the transaction, the insider now directly owns 66,947 shares in the company, valued at approximately $2,292,934.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 12.96% of the stock is currently owned by insiders.

Institutional Investors Weigh In On NexPoint Residential Trust

Several hedge funds have recently bought and sold shares of NXRT. SRS Capital Advisors Inc. increased its position in shares of NexPoint Residential Trust by 176.1% during the 4th quarter. SRS Capital Advisors Inc. now owns 903 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 576 shares during the last quarter. Van ECK Associates Corp grew its position in NexPoint Residential Trust by 19.7% during the fourth quarter. Van ECK Associates Corp now owns 3,163 shares of the financial services provider’s stock valued at $109,000 after acquiring an additional 520 shares during the last quarter. Quest Partners LLC purchased a new position in shares of NexPoint Residential Trust during the fourth quarter worth approximately $140,000. Price T Rowe Associates Inc. MD bought a new stake in shares of NexPoint Residential Trust in the 1st quarter worth approximately $212,000. Finally, Daiwa Securities Group Inc. boosted its stake in shares of NexPoint Residential Trust by 8.9% in the 1st quarter. Daiwa Securities Group Inc. now owns 7,436 shares of the financial services provider’s stock valued at $239,000 after purchasing an additional 610 shares in the last quarter. 76.61% of the stock is currently owned by institutional investors.

NexPoint Residential Trust Stock Performance

NYSE:NXRT opened at $39.51 on Wednesday. The stock’s 50-day moving average is $36.24 and its 200-day moving average is $33.32. NexPoint Residential Trust has a 1-year low of $26.21 and a 1-year high of $49.87. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 2.90. The stock has a market cap of $1.01 billion, a P/E ratio of 13.96, a price-to-earnings-growth ratio of 1.13 and a beta of 1.33.

NexPoint Residential Trust Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were given a $0.4624 dividend. This is an increase from NexPoint Residential Trust’s previous quarterly dividend of $0.46. This represents a $1.85 dividend on an annualized basis and a yield of 4.68%. The ex-dividend date of this dividend was Friday, June 14th. NexPoint Residential Trust’s dividend payout ratio (DPR) is currently 65.37%.

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.