StockNews.com cut shares of NexPoint Residential Trust (NYSE:NXRT – Get Rating) from a hold rating to a sell rating in a research note issued to investors on Thursday morning.
Other analysts have also recently issued reports about the company. Truist Financial dropped their target price on NexPoint Residential Trust from $66.00 to $48.00 and set a hold rating for the company in a report on Tuesday, November 29th. Janney Montgomery Scott raised NexPoint Residential Trust from a neutral rating to a buy rating in a research note on Friday, August 12th. JMP Securities began coverage on NexPoint Residential Trust in a research note on Tuesday, September 20th. They issued an outperform rating and a $70.00 price target on the stock. Finally, Jefferies Financial Group lowered NexPoint Residential Trust from a buy rating to a hold rating and decreased their price target for the company from $78.00 to $45.00 in a research note on Wednesday, October 19th. One analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $73.14.
Get NexPoint Residential Trust alerts:NexPoint Residential Trust Stock Down 0.5 %
Shares of NXRT opened at $46.47 on Thursday. The company has a debt-to-equity ratio of 3.17, a quick ratio of 1.86 and a current ratio of 1.86. NexPoint Residential Trust has a one year low of $38.67 and a one year high of $95.04. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of 46.47, a PEG ratio of 1.83 and a beta of 1.02. The stock has a 50 day moving average price of $44.90 and a 200 day moving average price of $54.81.
NexPoint Residential Trust Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Thursday, December 15th will be paid a dividend of $0.42 per share. This is a positive change from NexPoint Residential Trust's previous quarterly dividend of $0.38. The ex-dividend date is Wednesday, December 14th. This represents a $1.68 annualized dividend and a yield of 3.62%. NexPoint Residential Trust's dividend payout ratio is presently 152.00%.Insider Buying and Selling
In other news, General Counsel Dennis Charles Sauter, Jr. bought 2,223 shares of the firm's stock in a transaction that occurred on Friday, November 4th. The shares were purchased at an average price of $44.57 per share, with a total value of $99,079.11. Following the purchase, the general counsel now owns 5,795 shares in the company, valued at $258,283.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 12.69% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On NexPoint Residential Trust
A number of hedge funds have recently bought and sold shares of the stock. Penn Capital Management Company LLC raised its position in NexPoint Residential Trust by 163.6% in the 3rd quarter. Penn Capital Management Company LLC now owns 55,196 shares of the financial services provider's stock valued at $2,551,000 after purchasing an additional 34,257 shares in the last quarter. Bank of New York Mellon Corp raised its position in NexPoint Residential Trust by 2.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 260,898 shares of the financial services provider's stock valued at $12,056,000 after purchasing an additional 6,644 shares in the last quarter. Teachers Retirement System of The State of Kentucky acquired a new stake in NexPoint Residential Trust in the 3rd quarter valued at about $310,000. Balyasny Asset Management LLC raised its position in NexPoint Residential Trust by 70.1% in the 3rd quarter. Balyasny Asset Management LLC now owns 207,802 shares of the financial services provider's stock valued at $9,603,000 after purchasing an additional 85,612 shares in the last quarter. Finally, Jane Street Group LLC raised its position in NexPoint Residential Trust by 52.9% in the 3rd quarter. Jane Street Group LLC now owns 15,661 shares of the financial services provider's stock valued at $724,000 after purchasing an additional 5,419 shares in the last quarter. Institutional investors and hedge funds own 91.22% of the company's stock.
About NexPoint Residential Trust
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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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