Truist Financial Lowers NexPoint Residential Trust (NYSE:NXRT) Price Target to $38.00

NexPoint Residential Trust (NYSE:NXRT - Get Free Report) had its target price reduced by Truist Financial from $42.00 to $38.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a "hold" rating on the financial services provider's stock. Truist Financial's price objective suggests a potential upside of 12.12% from the company's current price.

A number of other analysts have also issued reports on the company. JMP Securities reaffirmed a "market perform" rating on shares of NexPoint Residential Trust in a report on Monday, May 19th. Raymond James cut NexPoint Residential Trust from an "outperform" rating to a "market perform" rating in a research report on Thursday, May 15th. Compass Point reaffirmed a "neutral" rating and set a $42.50 target price (down previously from $50.00) on shares of NexPoint Residential Trust in a research report on Tuesday, May 13th. Jefferies Financial Group upped their target price on shares of NexPoint Residential Trust from $41.00 to $43.00 and gave the company a "hold" rating in a research note on Monday, March 10th. Finally, Wall Street Zen downgraded shares of NexPoint Residential Trust from a "hold" rating to a "sell" rating in a report on Saturday, March 1st. One analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $43.58.

NexPoint Residential Trust Stock Performance

Shares of NYSE NXRT traded down $0.11 during trading hours on Thursday, hitting $33.89. 140,807 shares of the stock were exchanged, compared to its average volume of 131,818. NexPoint Residential Trust has a one year low of $30.98 and a one year high of $48.37. The company's 50 day moving average is $36.28 and its 200 day moving average is $39.68. The company has a debt-to-equity ratio of 3.25, a current ratio of 1.79 and a quick ratio of 1.79. The firm has a market capitalization of $856.98 million, a P/E ratio of 19.37, a P/E/G ratio of 2.34 and a beta of 1.14.

NexPoint Residential Trust (NYSE:NXRT - Get Free Report) last released its quarterly 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 during the quarter, compared to analysts' expectations of $63.29 million. NexPoint Residential Trust had a net margin of 17.54% and a return on equity of 9.54%. On average, research analysts expect that NexPoint Residential Trust will post 2.86 EPS for the current year.

Insiders Place Their Bets

In other NexPoint Residential Trust news, insider Paul Richards bought 5,814 shares of NexPoint Residential Trust stock in a transaction dated Monday, April 7th. The shares were acquired at an average cost of $33.24 per share, with a total value of $193,257.36. Following the acquisition, the insider now directly owns 18,493 shares of the company's stock, valued at $614,707.32. The trade was a 45.86% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 15.36% of the company's stock.

Hedge Funds Weigh In On NexPoint Residential Trust

A number of institutional investors and hedge funds have recently bought and sold shares of NXRT. Farther Finance Advisors LLC lifted its position in NexPoint Residential Trust by 1,732.4% during the 1st quarter. Farther Finance Advisors LLC now owns 623 shares of the financial services provider's stock worth $25,000 after buying an additional 589 shares in the last quarter. Johnson Financial Group Inc. bought a new position in shares of NexPoint Residential Trust in the fourth quarter worth about $35,000. Smartleaf Asset Management LLC lifted its position in shares of 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 purchasing an additional 456 shares in the last quarter. New Age Alpha Advisors LLC bought a new stake in shares of NexPoint Residential Trust during the first quarter valued at approximately $53,000. Finally, Quantbot Technologies LP acquired a new stake in shares of NexPoint Residential Trust in the first quarter valued at approximately $56,000. Institutional investors and hedge funds own 76.61% of the company's stock.

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.