Brokerages Set NexPoint Residential Trust, Inc. (NYSE:NXRT) Target Price at $37.25

NexPoint Residential Trust, Inc. (NYSE:NXRT) has been given a consensus rating of “Hold” by the five ratings firms that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and two have given a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $37.25.

A number of brokerages recently weighed in on NXRT. JMP Securities reaffirmed a “market outperform” rating and set a $40.00 price target on shares of NexPoint Residential Trust in a research report on Wednesday, March 6th. Raymond James cut NexPoint Residential Trust from a “market perform” rating to an “underperform” rating in a report on Monday, March 18th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of NexPoint Residential Trust in a research note on Tuesday, January 30th. They set a “buy” rating and a $38.00 price target on the stock. Finally, Truist Financial lowered their target price on NexPoint Residential Trust from $37.00 to $35.00 and set a “hold” rating for the company in a research note on Tuesday, April 9th.

Insider Buying and Selling at NexPoint Residential Trust

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SRS Capital Advisors Inc. boosted its holdings in shares of NexPoint Residential Trust by 176.1% during the fourth quarter. SRS Capital Advisors Inc. now owns 903 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 576 shares during the period. Van ECK Associates Corp increased its stake in shares of NexPoint Residential Trust by 19.7% in the fourth quarter. Van ECK Associates Corp now owns 3,163 shares of the financial services provider’s stock valued at $109,000 after purchasing an additional 520 shares during the period. Quest Partners LLC bought a new stake in shares of NexPoint Residential Trust during the fourth quarter valued at approximately $140,000. Daiwa Securities Group Inc. boosted its position in shares of NexPoint Residential Trust by 8.9% during the first quarter. Daiwa Securities Group Inc. now owns 7,436 shares of the financial services provider’s stock worth $239,000 after buying an additional 610 shares during the period. Finally, Jump Financial LLC bought a new position in NexPoint Residential Trust in the 3rd quarter worth approximately $241,000. Institutional investors and hedge funds own 76.61% of the company’s stock.

NexPoint Residential Trust Stock Performance

Shares of NYSE:NXRT opened at $35.76 on Tuesday. The firm has a market capitalization of $918.10 million, a PE ratio of 12.64, a P/E/G ratio of 1.05 and a beta of 1.25. NexPoint Residential Trust has a 12 month low of $26.21 and a 12 month high of $49.87. The company has a debt-to-equity ratio of 2.90, a current ratio of 2.66 and a quick ratio of 1.59. The business has a 50-day moving average of $31.87 and a two-hundred day moving average of $31.57.

NexPoint Residential Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a $0.4624 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 5.17%. This is an increase from NexPoint Residential Trust’s previous quarterly dividend of $0.46. The ex-dividend date is Friday, June 14th. NexPoint Residential Trust’s dividend payout ratio (DPR) is 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.