NexPoint Residential Trust (NYSE:NXRT) Upgraded by StockNews.com to “Hold” Rating

NexPoint Residential Trust (NYSE:NXRT) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Thursday.

Several other research firms also recently commented on NXRT. Truist Financial raised their price objective on shares of NexPoint Residential Trust from $37.00 to $46.00 and gave the stock a “hold” rating in a report on Tuesday, August 27th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of NexPoint Residential Trust from $38.00 to $44.00 and gave the stock a “hold” rating in a research report on Tuesday, September 10th. Finally, Raymond James upgraded NexPoint Residential Trust from a “market perform” rating to an “outperform” rating and set a $50.00 price objective for the company in a report on Monday, October 21st. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $46.83.

NexPoint Residential Trust Price Performance

Shares of NXRT opened at $45.82 on Thursday. The stock has a market cap of $1.16 billion, a P/E ratio of 26.18, a P/E/G ratio of 2.77 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 has a 12-month low of $28.20 and a 12-month high of $48.37. The business’s fifty day moving average is $44.67 and its 200 day moving average is $42.89.

NexPoint Residential Trust (NYSE:NXRT) last posted its quarterly earnings data on Tuesday, October 29th. The financial services provider reported ($0.35) earnings per share for the quarter, missing the consensus estimate of $0.66 by ($1.01). The business had revenue of $64.10 million during the quarter, compared to analysts’ expectations 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 firm posted $0.76 EPS. Sell-side analysts anticipate that NexPoint Residential Trust will post 2.78 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NexPoint Residential Trust

Institutional investors and hedge funds have recently made changes to their positions in the business. Valley Wealth Managers Inc. bought a new stake in NexPoint Residential Trust in the 3rd quarter worth about $27,000. Point72 DIFC Ltd bought a new position in shares of NexPoint Residential Trust during the second quarter worth $32,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in NexPoint Residential Trust by 34.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 900 shares of the financial services provider’s stock valued at $39,000 after buying an additional 232 shares during the last quarter. Signaturefd LLC increased its position in NexPoint Residential Trust by 238.4% in the second quarter. Signaturefd LLC now owns 1,039 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 732 shares during the last quarter. Finally, Meeder Asset Management Inc. bought a new position in shares of NexPoint Residential Trust in the 3rd quarter valued at about $42,000. Institutional investors own 76.61% of the company’s stock.

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.