NexPoint Residential Trust (NYSE:NXRT - Free Report) had its target price lowered by Truist Financial from $37.00 to $35.00 in a research note issued to investors on Tuesday, Benzinga reports. Truist Financial currently has a hold rating on the financial services provider's stock.
Several other research firms also recently commented on NXRT. JMP Securities reissued a market outperform rating and issued a $40.00 target price on shares of NexPoint Residential Trust in a report on Wednesday, March 6th. Raymond James lowered NexPoint Residential Trust from a market perform rating to an underperform rating in a research report on Monday, March 18th. Deutsche Bank Aktiengesellschaft assumed coverage on NexPoint Residential Trust in a report on Tuesday, January 30th. They issued a buy rating and a $38.00 target price on the stock. Finally, Janney Montgomery Scott lowered NexPoint Residential Trust from a buy rating to a neutral rating and set a $36.00 price target for the company. in a research note on Wednesday, December 20th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Hold and an average target price of $37.25.
Check Out Our Latest Report on NXRT
NexPoint Residential Trust Price Performance
NXRT stock traded up $0.70 during midday trading on Tuesday, hitting $33.42. The company's stock had a trading volume of 100,288 shares, compared to its average volume of 160,035. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 3.16. NexPoint Residential Trust has a 12 month low of $26.21 and a 12 month high of $49.87. The company has a 50 day moving average of $30.52 and a two-hundred day moving average of $31.27. The firm has a market capitalization of $861.23 million, a price-to-earnings ratio of 19.89, a price-to-earnings-growth ratio of 0.95 and a beta of 1.28.
NexPoint Residential Trust Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were issued a $0.462 dividend. The ex-dividend date was Thursday, March 14th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 5.53%. NexPoint Residential Trust's dividend payout ratio (DPR) is presently 110.12%.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in the business. SRS Capital Advisors Inc. increased its stake in NexPoint Residential Trust by 176.1% during the fourth quarter. SRS Capital Advisors Inc. now owns 903 shares of the financial services provider's stock worth $31,000 after acquiring an additional 576 shares during the last quarter. Tower Research Capital LLC TRC increased its position in shares of NexPoint Residential Trust by 332.8% during the 1st quarter. Tower Research Capital LLC TRC now owns 844 shares of the financial services provider's stock valued at $37,000 after purchasing an additional 649 shares during the last quarter. Quantbot Technologies LP purchased a new stake in NexPoint Residential Trust during the 2nd quarter valued at $60,000. PNC Financial Services Group Inc. lifted its position in NexPoint Residential Trust by 65.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,198 shares of the financial services provider's stock worth $96,000 after buying an additional 873 shares during the last quarter. Finally, Van ECK Associates Corp lifted its position in NexPoint Residential Trust by 19.7% in the fourth quarter. Van ECK Associates Corp now owns 3,163 shares of the financial services provider's stock worth $109,000 after buying an additional 520 shares during the last quarter. Institutional investors own 76.61% of the company's stock.
NexPoint Residential Trust Company Profile
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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.
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