NexPoint Residential Trust (NYSE:NXRT) Stock Rating Lowered by Zacks Investment Research

NexPoint Residential Trust (NYSE:NXRT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Thursday, Zacks.com reports.

According to Zacks, “NexPoint Residential Trust, Inc. is engaged in acquiring, owning, operating and selectively developing multifamily properties. It operates primarily in the Southeastern United States and Texas. NexPoint Residential Trust, Inc. is based in Dallas, United States. “

A number of other research analysts have also commented on the stock. Boenning Scattergood reaffirmed a “hold” rating on shares of NexPoint Residential Trust in a research report on Wednesday, May 1st. Compass Point raised shares of NexPoint Residential Trust from a “neutral” rating to a “buy” rating and set a $46.50 target price on the stock in a research note on Wednesday. Raymond James raised shares of NexPoint Residential Trust from an “outperform” rating to a “strong-buy” rating and upped their target price for the company from $41.00 to $44.00 in a research note on Friday, May 3rd. Finally, LADENBURG THALM/SH SH upped their target price on shares of NexPoint Residential Trust from $41.50 to $44.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $43.08.

Shares of NXRT traded up $0.22 during trading hours on Thursday, reaching $44.10. 101,034 shares of the company traded hands, compared to its average volume of 66,633. The firm has a fifty day moving average of $41.78. The firm has a market cap of $1.04 billion, a PE ratio of 23.46, a P/E/G ratio of 2.37 and a beta of 0.41. The company has a current ratio of 2.12, a quick ratio of 2.88 and a debt-to-equity ratio of 3.60. NexPoint Residential Trust has a 1-year low of $30.80 and a 1-year high of $44.80.

NexPoint Residential Trust (NYSE:NXRT) last announced its quarterly earnings data on Tuesday, July 30th. The financial services provider reported ($0.08) EPS for the quarter, missing the Zacks’ consensus estimate of $0.46 by ($0.54). The company had revenue of $43.07 million for the quarter, compared to analyst estimates of $43.05 million. NexPoint Residential Trust had a negative net margin of 10.21% and a negative return on equity of 6.07%. Sell-side analysts predict that NexPoint Residential Trust will post 1.98 EPS for the current fiscal year.

In other NexPoint Residential Trust news, insider James D. Dondero bought 500,000 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The shares were acquired at an average price of $41.19 per share, with a total value of $20,595,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 21.49% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Nordea Investment Management AB lifted its holdings in NexPoint Residential Trust by 0.9% in the fourth quarter. Nordea Investment Management AB now owns 33,600 shares of the financial services provider’s stock valued at $1,177,000 after buying an additional 300 shares during the period. Stephens Inc. AR raised its holdings in NexPoint Residential Trust by 2.9% in the second quarter. Stephens Inc. AR now owns 13,898 shares of the financial services provider’s stock worth $575,000 after purchasing an additional 396 shares during the period. Envestnet Asset Management Inc. raised its holdings in NexPoint Residential Trust by 4.9% in the second quarter. Envestnet Asset Management Inc. now owns 14,303 shares of the financial services provider’s stock worth $592,000 after purchasing an additional 665 shares during the period. First Trust Advisors LP raised its holdings in NexPoint Residential Trust by 1.7% in the first quarter. First Trust Advisors LP now owns 42,037 shares of the financial services provider’s stock worth $1,612,000 after purchasing an additional 695 shares during the period. Finally, Oppenheimer Asset Management Inc. raised its holdings in NexPoint Residential Trust by 40.3% in the first quarter. Oppenheimer Asset Management Inc. now owns 2,501 shares of the financial services provider’s stock worth $96,000 after purchasing an additional 718 shares during the period. 67.20% of the stock is currently owned by institutional investors and hedge funds.

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.

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