NexPoint Residential Trust, Inc. (NYSE:NXRT) Receives $37.75 Consensus Price Target from Analysts

Shares of NexPoint Residential Trust, Inc. (NYSE:NXRT) have earned a consensus rating of “Hold” from the five brokerages that are covering the firm, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $37.75.

A number of brokerages have recently issued reports on NXRT. Truist Financial lifted their price objective on shares of NexPoint Residential Trust from $34.00 to $37.00 and gave the stock a “hold” rating in a research report on Monday, June 24th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $38.00 price objective on shares of NexPoint Residential Trust in a report on Tuesday, June 11th. Finally, Raymond James raised NexPoint Residential Trust from an “underperform” rating to a “market perform” rating in a research report on Friday, May 24th.

NexPoint Residential Trust Price Performance

Shares of NXRT stock opened at $42.63 on Friday. The stock’s 50-day moving average is $38.25 and its 200 day moving average is $34.02. NexPoint Residential Trust has a 1-year low of $26.21 and a 1-year high of $43.89. The company has a debt-to-equity ratio of 2.90, a current ratio of 2.66 and a quick ratio of 2.66. The company has a market cap of $1.09 billion, a P/E ratio of 15.06, a PEG ratio of 1.27 and a beta of 1.35.

NexPoint Residential Trust Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were given a dividend of $0.4624 per share. The ex-dividend date was Friday, June 14th. This represents a $1.85 dividend on an annualized basis and a yield of 4.34%. This is a boost from NexPoint Residential Trust’s previous quarterly dividend of $0.46. NexPoint Residential Trust’s payout ratio is currently 65.37%.

Insider Activity

In other NexPoint Residential Trust news, insider Brian Mitts sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $39.40, for a total transaction of $78,800.00. Following the completion of the transaction, the insider now directly owns 65,696 shares of the company’s stock, valued at approximately $2,588,422.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 12.96% of the company’s stock.

Institutional Investors Weigh In On NexPoint Residential Trust

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SRS Capital Advisors Inc. boosted its stake in shares of NexPoint Residential Trust by 176.1% in the fourth quarter. SRS Capital Advisors Inc. now owns 903 shares of the financial services provider’s stock worth $31,000 after buying an additional 576 shares during the last quarter. Van ECK Associates Corp boosted its position in NexPoint Residential Trust by 19.7% in the 4th quarter. Van ECK Associates Corp now owns 3,163 shares of the financial services provider’s stock worth $109,000 after purchasing an additional 520 shares in the last quarter. Quest Partners LLC acquired a new stake in shares of NexPoint Residential Trust during the 4th quarter worth approximately $140,000. Price T Rowe Associates Inc. MD acquired a new position in shares of NexPoint Residential Trust in the 1st quarter valued at $212,000. Finally, Daiwa Securities Group Inc. boosted its holdings in 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 in the last quarter. 76.61% of the stock is owned by institutional investors and hedge funds.

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.