NexPoint Residential Trust (NYSE:NXRT) Raised 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 issued to investors on Saturday.

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

NexPoint Residential Trust Stock Up 3.1%

NXRT traded up $0.94 during trading on Friday, reaching $31.49. 163,151 shares of the stock traded hands, compared to its average volume of 147,199. The stock has a market cap of $798.46 million, a price-to-earnings ratio of -16.06, a price-to-earnings-growth ratio of 1.83 and a beta of 1.04. NexPoint Residential Trust has a fifty-two week low of $29.98 and a fifty-two week high of $48.37. The company has a debt-to-equity ratio of 4.22, a current ratio of 1.89 and a quick ratio of 1.89. The stock's 50-day simple moving average is $33.65 and its two-hundred day simple moving average is $36.53.

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

NexPoint Residential Trust Dividend Announcement

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

Insider Transactions at NexPoint Residential Trust

In other news, insider Paul Richards purchased 5,000 shares of the company's stock in a transaction on Wednesday, June 25th. The stock was acquired at an average cost of $32.92 per share, for a total transaction of $164,600.00. Following the completion of the transaction, the insider directly owned 24,689 shares in the company, valued at $812,761.88. This trade represents a 25.39% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 15.36% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Nexpoint Asset Management L.P. boosted its position in shares of NexPoint Residential Trust by 100.0% during the 4th quarter. Nexpoint Asset Management L.P. now owns 1,562,753 shares of the financial services provider's stock valued at $65,245,000 after acquiring an additional 781,266 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of NexPoint Residential Trust by 194.3% in the fourth quarter. Millennium Management LLC now owns 284,292 shares of the financial services provider's stock valued at $11,869,000 after acquiring an additional 187,680 shares during the period. Invesco Ltd. lifted its holdings in shares of NexPoint Residential Trust by 63.9% during the first quarter. Invesco Ltd. now owns 330,285 shares of the financial services provider's stock worth $13,056,000 after purchasing an additional 128,745 shares during the period. BROOKFIELD Corp ON lifted its holdings in shares of NexPoint Residential Trust by 109.7% during the first quarter. BROOKFIELD Corp ON now owns 193,982 shares of the financial services provider's stock worth $7,668,000 after purchasing an additional 101,459 shares during the period. Finally, BROOKFIELD Corp ON acquired a new stake in shares of NexPoint Residential Trust during the fourth quarter worth $3,863,000. Hedge funds and other institutional investors 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.