NexPoint Residential Trust (NXRT) Raised to Strong-Buy at Raymond James

Raymond James upgraded shares of NexPoint Residential Trust (NYSE:NXRT) from an outperform rating to a strong-buy rating in a report released on Friday, Benzinga reports. They currently have $44.00 price objective on the financial services provider’s stock, up from their previous price objective of $41.00.

NXRT has been the subject of several other research reports. Zacks Investment Research raised NexPoint Residential Trust from a sell rating to a hold rating in a research report on Wednesday, January 16th. B. Riley boosted their price objective on NexPoint Residential Trust from $37.00 to $41.00 and gave the stock a buy rating in a research report on Wednesday, February 20th. Finally, Boenning Scattergood reissued a hold rating on shares of NexPoint Residential Trust in a research report on Wednesday, February 20th. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. NexPoint Residential Trust has a consensus rating of Buy and an average target price of $38.80.

Shares of NYSE NXRT traded up $1.41 during trading hours on Friday, hitting $38.93. 94,271 shares of the company’s stock were exchanged, compared to its average volume of 88,384. NexPoint Residential Trust has a 1-year low of $26.60 and a 1-year high of $40.23. The company has a debt-to-equity ratio of 2.83, a quick ratio of 2.19 and a current ratio of 2.19. The stock has a market capitalization of $920.42 million, a PE ratio of 20.71, a P/E/G ratio of 2.23 and a beta of 0.52.

NexPoint Residential Trust (NYSE:NXRT) last posted its quarterly earnings data on Tuesday, April 30th. The financial services provider reported ($0.19) earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.63). NexPoint Residential Trust had a negative return on equity of 6.28% and a negative net margin of 10.49%. The business had revenue of $41.50 million for the quarter, compared to analyst estimates of $41.83 million. As a group, equities research analysts forecast that NexPoint Residential Trust will post 1.84 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a dividend of $0.275 per share. The ex-dividend date is Thursday, June 13th. This represents a $1.10 annualized dividend and a yield of 2.83%. NexPoint Residential Trust’s dividend payout ratio is 58.51%.

Institutional investors and hedge funds have recently modified their holdings of the stock. IFP Advisors Inc bought a new position in NexPoint Residential Trust during the fourth quarter valued at about $28,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in NexPoint Residential Trust by 108.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,072 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 557 shares during the period. Winslow Evans & Crocker Inc. bought a new position in NexPoint Residential Trust during the fourth quarter valued at about $54,000. Oppenheimer Asset Management Inc. bought a new position in NexPoint Residential Trust during the fourth quarter valued at about $62,000. Finally, Quantamental Technologies LLC increased its stake in NexPoint Residential Trust by 318.1% during the first quarter. Quantamental Technologies LLC now owns 1,643 shares of the financial services provider’s stock valued at $63,000 after acquiring an additional 1,250 shares during the period. Hedge funds and other institutional investors own 66.25% 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.

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