NexPoint Residential Trust (NYSE:NXRT) had its price objective upped by Raymond James to $51.00 in a research report report published on Monday morning, The Fly reports. They currently have a strong-buy rating on the financial services provider’s stock.
NXRT has been the subject of a number of other research reports. Compass Point raised shares of NexPoint Residential Trust from a neutral rating to a buy rating and set a $46.50 target price for the company in a research note on Wednesday, July 31st. Boenning Scattergood reaffirmed a hold rating on shares of NexPoint Residential Trust in a research note on Wednesday, May 1st. LADENBURG THALM/SH SH upped their price objective on shares of NexPoint Residential Trust from $41.50 to $44.00 and gave the company a buy rating in a research note on Friday, May 31st. Finally, Zacks Investment Research cut shares of NexPoint Residential Trust from a buy rating to a hold rating in a research note on Thursday, August 1st. One analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. NexPoint Residential Trust currently has a consensus rating of Buy and an average target price of $44.92.
NXRT stock opened at $46.49 on Monday. The stock has a market capitalization of $1.11 billion, a P/E ratio of 24.73, a P/E/G ratio of 2.43 and a beta of 0.41. The firm has a 50-day simple moving average of $43.52 and a 200-day simple moving average of $39.67. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 3.60. NexPoint Residential Trust has a 52 week low of $31.40 and a 52 week high of $46.70.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be paid a dividend of $0.275 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $1.10 annualized dividend and a yield of 2.37%. NexPoint Residential Trust’s dividend payout ratio is presently 58.51%.
In other NexPoint Residential Trust news, insider James D. Dondero acquired 500,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was bought at an average price of $41.19 per share, with a total value of $20,595,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. 21.49% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. MUFG Americas Holdings Corp acquired a new position in NexPoint Residential Trust in the 2nd quarter valued at about $50,000. Quantamental Technologies LLC boosted its holdings in NexPoint Residential Trust by 318.1% in the 1st quarter. Quantamental Technologies LLC now owns 1,643 shares of the financial services provider’s stock valued at $63,000 after purchasing an additional 1,250 shares during the last quarter. Steward Partners Investment Advisory LLC acquired a new position in NexPoint Residential Trust in the 2nd quarter valued at about $82,000. Aperio Group LLC acquired a new position in NexPoint Residential Trust in the 2nd quarter valued at about $91,000. Finally, Royal Bank of Canada boosted its holdings in NexPoint Residential Trust by 35.5% in the 2nd quarter. Royal Bank of Canada now owns 2,305 shares of the financial services provider’s stock valued at $95,000 after purchasing an additional 604 shares during the last quarter. 66.22% of the stock is owned by institutional investors.
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.
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