NexPoint Residential Trust (NYSE:NXRT) Cut to Market Perform at Citizens Jmp

NexPoint Residential Trust (NYSE:NXRT - Get Free Report) was downgraded by equities researchers at Citizens Jmp from an "outperform" rating to a "market perform" rating in a report issued on Monday,Finviz reports.

A number of other research firms have also recently issued reports on NXRT. Truist Financial raised their target price on NexPoint Residential Trust from $41.00 to $42.00 and gave the company a "hold" rating in a research note on Monday, March 10th. Compass Point reiterated a "neutral" rating and issued a $42.50 target price (down from $50.00) on shares of NexPoint Residential Trust in a research note on Tuesday, May 13th. JMP Securities reiterated a "market perform" rating on shares of NexPoint Residential Trust in a research note on Monday. Raymond James cut NexPoint Residential Trust from an "outperform" rating to a "market perform" rating in a research note on Thursday. Finally, StockNews.com cut NexPoint Residential Trust from a "hold" rating to a "sell" rating in a research note on Saturday, March 1st. One equities research analyst has rated the stock with a sell rating and seven have given a hold rating to the company's stock. According to data from MarketBeat.com, NexPoint Residential Trust presently has a consensus rating of "Hold" and an average price target of $44.25.

NexPoint Residential Trust Stock Performance

NXRT stock opened at $36.96 on Monday. The company has a debt-to-equity ratio of 3.25, a quick ratio of 1.79 and a current ratio of 1.79. The stock has a market capitalization of $934.48 million, a price-to-earnings ratio of 21.12, a PEG ratio of 2.34 and a beta of 1.14. NexPoint Residential Trust has a 1 year low of $30.98 and a 1 year high of $48.37. The stock's fifty day moving average is $37.14 and its two-hundred day moving average is $40.37.

NexPoint Residential Trust (NYSE:NXRT - Get Free Report) last posted its earnings results on Tuesday, April 29th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.78 by $0.06. The company had revenue of $63.22 million for the quarter, compared to analysts' expectations of $63.29 million. NexPoint Residential Trust had a return on equity of 9.54% and a net margin of 17.54%. On average, research analysts predict that NexPoint Residential Trust will post 2.86 EPS for the current year.

Insider Activity at NexPoint Residential Trust

In other news, insider Paul Richards bought 5,814 shares of the stock in a transaction that occurred on Monday, April 7th. The shares were purchased at an average cost of $33.24 per share, with a total value of $193,257.36. Following the completion of the acquisition, the insider now directly owns 18,493 shares in the company, valued at approximately $614,707.32. The trade was a 45.86% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 15.36% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of NXRT. Farther Finance Advisors LLC grew its holdings in NexPoint Residential Trust by 1,732.4% during the first quarter. Farther Finance Advisors LLC now owns 623 shares of the financial services provider's stock worth $25,000 after acquiring an additional 589 shares during the period. Johnson Financial Group Inc. acquired a new position in NexPoint Residential Trust during the fourth quarter worth about $35,000. Smartleaf Asset Management LLC grew its holdings in NexPoint Residential Trust by 104.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 894 shares of the financial services provider's stock worth $37,000 after acquiring an additional 456 shares during the period. New Age Alpha Advisors LLC acquired a new position in NexPoint Residential Trust during the first quarter worth about $53,000. Finally, Quantbot Technologies LP acquired a new position in NexPoint Residential Trust during the first quarter worth about $56,000. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.