Truist Financial Cuts NexPoint Residential Trust (NYSE:NXRT) Price Target to $34.00

Key Points

• Truist Financial has decreased the price target for NexPoint Residential Trust from $38.00 to $34.00, suggesting a potential upside of 10.62% from its previous close.
• Other analysts have issued mixed ratings, with one changing their outlook from a "hold" to a "sell", while another maintains a "neutral" rating with a new target price of $42.50.
• NexPoint Residential Trust's stock is experiencing volatility, trading at $30.74 with a market cap of approximately $779.44 million and showing a one-year price range between $29.98 and $48.37.

NexPoint Residential Trust (NYSE:NXRT - Get Free Report) had its target price lowered by analysts at Truist Financial from $38.00 to $34.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a "hold" rating on the financial services provider's stock. Truist Financial's target price points to a potential upside of 9.10% from the company's current price.

A number of other brokerages have also commented on NXRT. Compass Point restated a "neutral" rating and set a $42.50 price objective (down from $50.00) on shares of NexPoint Residential Trust in a report on Tuesday, May 13th. Wall Street Zen lowered shares of NexPoint Residential Trust from a "hold" rating to a "sell" rating in a report on Sunday. JMP Securities restated a "market perform" rating on shares of NexPoint Residential Trust in a report on Monday, May 19th. Raymond James Financial lowered shares of NexPoint Residential Trust from an "outperform" rating to a "market perform" rating in a report on Thursday, May 15th. Finally, Citizens Jmp lowered shares of NexPoint Residential Trust from an "outperform" rating to a "market perform" rating in a report on Monday, May 19th. One research analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. According to MarketBeat.com, NexPoint Residential Trust presently has a consensus rating of "Hold" and a consensus price target of $41.50.

NexPoint Residential Trust Trading Down 1.7%

NXRT stock traded down $0.54 during midday trading on Tuesday, reaching $31.16. The company's stock had a trading volume of 183,050 shares, compared to its average volume of 174,713. NexPoint Residential Trust has a 52 week low of $29.98 and a 52 week high of $48.37. The stock has a market cap of $790.29 million, a PE ratio of -15.90, a price-to-earnings-growth ratio of 1.88 and a beta of 1.04. The company has a quick ratio of 1.89, a current ratio of 1.89 and a debt-to-equity ratio of 4.22. The business's 50-day simple moving average is $33.23 and its 200-day simple moving average is $36.14.

NexPoint Residential Trust (NYSE:NXRT - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $0.80 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.81 by ($0.01). The business had revenue of $63.10 million during the quarter, compared to the consensus estimate of $63.32 million. NexPoint Residential Trust had a negative net margin of 19.55% and a negative return on equity of 12.54%. As a group, sell-side analysts expect that NexPoint Residential Trust will post 2.86 EPS for the current year.

Insider Transactions at NexPoint Residential Trust

In other NexPoint Residential Trust news, insider Paul Richards purchased 5,000 shares of the stock in a transaction on Wednesday, June 25th. The shares were purchased at an average cost of $32.92 per share, for a total transaction of $164,600.00. Following the purchase, the insider owned 24,689 shares of the company's stock, valued at approximately $812,761.88. This represents a 25.39% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 15.36% of the company's stock.

Institutional Investors Weigh In On NexPoint Residential Trust

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Teacher Retirement System of Texas grew its position in shares of NexPoint Residential Trust by 83.3% in the 1st quarter. Teacher Retirement System of Texas now owns 40,790 shares of the financial services provider's stock valued at $1,612,000 after acquiring an additional 18,541 shares during the period. GAMMA Investing LLC grew its position in shares of NexPoint Residential Trust by 4,645.8% in the 1st quarter. GAMMA Investing LLC now owns 35,261 shares of the financial services provider's stock valued at $1,394,000 after acquiring an additional 34,518 shares during the period. Bank of America Corp DE grew its position in shares of NexPoint Residential Trust by 87.1% in the 4th quarter. Bank of America Corp DE now owns 102,499 shares of the financial services provider's stock valued at $4,279,000 after acquiring an additional 47,714 shares during the period. Principal Financial Group Inc. grew its position in shares of NexPoint Residential Trust by 2.7% in the 1st quarter. Principal Financial Group Inc. now owns 120,512 shares of the financial services provider's stock valued at $4,764,000 after acquiring an additional 3,207 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its position in shares of NexPoint Residential Trust by 53.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 12,041 shares of the financial services provider's stock valued at $488,000 after acquiring an additional 4,217 shares during the period. 76.61% of the stock is currently 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.