NexPoint Residential Trust (NYSE:NXRT) Price Target Cut to $38.00 by Analysts at Truist Financial

NexPoint Residential Trust (NYSE:NXRT - Get Free Report) had its price objective cut by Truist Financial from $42.00 to $38.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a "hold" rating on the financial services provider's stock. Truist Financial's price target indicates a potential upside of 11.86% from the company's current price.

Several other research firms have also recently commented on NXRT. JMP Securities reissued a "market perform" rating on shares of NexPoint Residential Trust in a research note on Monday, May 19th. Jefferies Financial Group increased their price target 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. Wall Street Zen cut shares of NexPoint Residential Trust from a "hold" rating to a "sell" rating in a research note on Saturday, March 1st. Citizens Jmp cut shares of NexPoint Residential Trust from an "outperform" rating to a "market perform" rating in a research note on Monday, May 19th. Finally, Compass Point reissued a "neutral" rating and set a $42.50 price target (down from $50.00) on shares of NexPoint Residential Trust in a research note on Tuesday, May 13th. 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 MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $43.58.

NexPoint Residential Trust Price Performance

NYSE:NXRT traded down $0.29 during mid-day trading on Thursday, hitting $33.97. The company's stock had a trading volume of 253,637 shares, compared to its average volume of 131,942. The company has a market capitalization of $858.93 million, a price-to-earnings ratio of 19.41, a P/E/G ratio of 2.34 and a beta of 1.14. The stock has a fifty day moving average of $36.28 and a 200-day moving average of $39.76. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 3.25. NexPoint Residential Trust has a fifty-two week low of $30.98 and a fifty-two week high of $48.37.

NexPoint Residential Trust (NYSE:NXRT - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The financial services provider reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.06. The company had revenue of $63.22 million during the quarter, compared to analyst estimates of $63.29 million. NexPoint Residential Trust had a net margin of 17.54% and a return on equity of 9.54%. As a group, equities analysts forecast that NexPoint Residential Trust will post 2.86 EPS for the current fiscal year.

Insider Buying and Selling at NexPoint Residential Trust

In other NexPoint Residential Trust news, insider Paul Richards acquired 1,000 shares of NexPoint Residential Trust stock in a transaction on Friday, May 23rd. The shares were purchased at an average cost of $33.18 per share, with a total value of $33,180.00. Following the completion of the purchase, the insider now owns 19,869 shares in the company, valued at $659,253.42. The trade was a 5.30% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 15.36% of the company's stock.

Hedge Funds Weigh In On NexPoint Residential Trust

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Nexpoint Asset Management L.P. boosted its position in shares of NexPoint Residential Trust by 100.0% during the fourth quarter. Nexpoint Asset Management L.P. now owns 1,562,753 shares of the financial services provider's stock worth $65,245,000 after purchasing an additional 781,266 shares in the last quarter. Copeland Capital Management LLC boosted its position in shares of NexPoint Residential Trust by 0.9% during the fourth quarter. Copeland Capital Management LLC now owns 909,758 shares of the financial services provider's stock worth $37,982,000 after purchasing an additional 8,072 shares in the last quarter. Northern Trust Corp boosted its position in shares of NexPoint Residential Trust by 4.6% during the first quarter. Northern Trust Corp now owns 455,908 shares of the financial services provider's stock worth $18,022,000 after purchasing an additional 19,927 shares in the last quarter. Deutsche Bank AG boosted its position in shares of NexPoint Residential Trust by 2.6% during the fourth quarter. Deutsche Bank AG now owns 381,537 shares of the financial services provider's stock worth $15,929,000 after purchasing an additional 9,754 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of NexPoint Residential Trust by 6.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 360,879 shares of the financial services provider's stock worth $14,266,000 after purchasing an additional 22,367 shares in the last quarter. 76.61% of the stock is owned by institutional investors.

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.