StockNews.com Downgrades NexPoint Residential Trust (NYSE:NXRT) to Sell

StockNews.com downgraded shares of NexPoint Residential Trust (NYSE:NXRT) from a hold rating to a sell rating in a research report report published on Monday morning.

NXRT has been the topic of several other reports. Compass Point increased their target price on shares of NexPoint Residential Trust from $45.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Truist Financial increased their price objective on NexPoint Residential Trust from $37.00 to $46.00 and gave the company a “hold” rating in a report on Tuesday, August 27th. JMP Securities raised their price objective on NexPoint Residential Trust from $40.00 to $50.00 and gave the company a “market outperform” rating in a research note on Friday, August 2nd. Raymond James upgraded NexPoint Residential Trust from a “market perform” rating to an “outperform” rating and set a $50.00 price target on the stock in a report on Monday, October 21st. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of NexPoint Residential Trust from $38.00 to $44.00 and gave the company a “hold” rating in a research report on Tuesday, September 10th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, NexPoint Residential Trust presently has a consensus rating of “Hold” and an average target price of $46.83.

NexPoint Residential Trust Stock Down 2.0 %

Shares of NexPoint Residential Trust stock opened at $45.09 on Monday. The firm has a market cap of $1.15 billion, a price-to-earnings ratio of 25.77, a P/E/G ratio of 1.53 and a beta of 1.37. The stock has a 50-day simple moving average of $44.10 and a 200-day simple moving average of $41.36. NexPoint Residential Trust has a 52-week low of $28.20 and a 52-week high of $48.37. The company has a debt-to-equity ratio of 3.25, a current ratio of 1.79 and a quick ratio of 1.79.

NexPoint Residential Trust (NYSE:NXRT) last posted its earnings results on Tuesday, October 29th. The financial services provider reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($1.01). The business had revenue of $64.10 million during the quarter, compared to analyst estimates of $64.69 million. NexPoint Residential Trust had a net margin of 17.54% and a return on equity of 9.54%. During the same quarter last year, the firm earned $0.76 earnings per share. On average, equities research analysts expect that NexPoint Residential Trust will post 2.78 earnings per share for the current fiscal year.

NexPoint Residential Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be given a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 4.52%. This is a boost from NexPoint Residential Trust’s previous quarterly dividend of $0.46. The ex-dividend date is Friday, December 13th. NexPoint Residential Trust’s dividend payout ratio is currently 105.71%.

Hedge Funds Weigh In On NexPoint Residential Trust

Institutional investors and hedge funds have recently bought and sold shares of the stock. Long Pond Capital LP bought a new position in shares of NexPoint Residential Trust during the 2nd quarter worth about $24,273,000. Dimensional Fund Advisors LP increased its stake in NexPoint Residential Trust by 7.6% during the second quarter. Dimensional Fund Advisors LP now owns 339,138 shares of the financial services provider’s stock valued at $13,399,000 after acquiring an additional 23,888 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in NexPoint Residential Trust by 2.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 332,680 shares of the financial services provider’s stock valued at $14,641,000 after acquiring an additional 8,795 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in NexPoint Residential Trust by 4.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 244,264 shares of the financial services provider’s stock valued at $9,651,000 after acquiring an additional 9,297 shares in the last quarter. Finally, BOKF NA lifted its position in shares of NexPoint Residential Trust by 0.4% in the 2nd quarter. BOKF NA now owns 177,320 shares of the financial services provider’s stock worth $7,006,000 after acquiring an additional 741 shares during the period. Institutional investors 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.