NexPoint Residential Trust (NYSE:NXRT) Upgraded to "Hold" at Wall Street Zen

Key Points

• NexPoint Residential Trust's rating was upgraded from "sell" to "hold" by Wall Street Zen, reflecting a shift in analyst sentiment regarding the stock.
• Several analysts have issued mixed ratings on the stock, with eight currently holding a "hold" rating and a revised average price target of $43.58.
• Insider Paul Richards purchased 5,000 shares at $32.92 each, indicating confidence in the company's future performance, while institutional investors collectively own 76.61% of the stock.

Wall Street Zen upgraded shares of NexPoint Residential Trust (NYSE:NXRT - Free Report) from a sell rating to a hold rating in a research note published on Saturday morning.

NXRT has been the subject of several other research reports. Raymond James Financial lowered NexPoint Residential Trust from an "outperform" rating to a "market perform" rating in a research report on Thursday, May 15th. Compass Point restated a "neutral" rating and issued a $42.50 price objective (down from $50.00) on shares of NexPoint Residential Trust in a research report on Tuesday, May 13th. Citizens Jmp lowered NexPoint Residential Trust from an "outperform" rating to a "market perform" rating in a research note on Monday, May 19th. JMP Securities reiterated a "market perform" rating on shares of NexPoint Residential Trust in a report on Monday, May 19th. Finally, Truist Financial lowered their target price on NexPoint Residential Trust from $42.00 to $38.00 and set a "hold" rating for the company in a report on Thursday, May 29th. Eight equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, NexPoint Residential Trust presently has a consensus rating of "Hold" and a consensus price target of $42.30.

NexPoint Residential Trust Stock Down 0.9%

Shares of NYSE:NXRT traded down $0.29 during mid-day trading on Friday, hitting $31.22. 39,406 shares of the company traded hands, compared to its average volume of 146,465. The stock has a 50-day moving average price of $33.61 and a two-hundred day moving average price of $36.50. The company has a current ratio of 1.89, a quick ratio of 1.89 and a debt-to-equity ratio of 4.22. NexPoint Residential Trust has a 12-month low of $29.98 and a 12-month high of $48.37. The stock has a market cap of $791.74 million, a P/E ratio of -15.93, a P/E/G ratio of 1.81 and a beta of 1.04.

NexPoint Residential Trust (NYSE:NXRT - Get Free Report) last posted 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 firm had revenue of $63.10 million during the quarter, compared to analysts' expectations of $63.32 million. NexPoint Residential Trust had a negative return on equity of 12.54% and a negative net margin of 19.55%. On average, equities research analysts forecast that NexPoint Residential Trust will post 2.86 earnings per share for the current year.

NexPoint Residential Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 6.5%. The ex-dividend date of this dividend is Monday, September 15th. NexPoint Residential Trust's payout ratio is presently -104.08%.

Insider Activity at NexPoint Residential Trust

In related news, insider Paul Richards bought 5,000 shares of the company's stock in a transaction that occurred on Wednesday, June 25th. The stock was purchased at an average price of $32.92 per share, for a total transaction of $164,600.00. Following the acquisition, the insider owned 24,689 shares of the company's stock, valued at approximately $812,761.88. This trade represents a 25.39% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 15.36% of the company's stock.

Institutional Trading of NexPoint Residential Trust

Several institutional investors have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC grew its stake in shares of NexPoint Residential Trust by 1,732.4% in 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 in the last quarter. Johnson Financial Group Inc. acquired a new position in NexPoint Residential Trust during the fourth quarter worth about $35,000. New Age Alpha Advisors LLC acquired a new stake in shares of NexPoint Residential Trust in the first quarter valued at approximately $53,000. Ameritas Advisory Services LLC acquired a new stake in NexPoint Residential Trust during the second quarter worth approximately $47,000. Finally, Quantbot Technologies LP acquired a new stake in NexPoint Residential Trust during the first quarter worth approximately $56,000. Institutional investors and hedge funds own 76.61% of the company's stock.

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.