Raymond James Boosts NexPoint Residential Trust (NYSE:NXRT) Price Target to $51.00

NexPoint Residential Trust (NYSE:NXRT) had its price target lifted by Raymond James to $51.00 in a research report sent to investors on Monday, The Fly reports. They currently have a strong-buy rating on the financial services provider’s stock.

Other research analysts have also recently issued research reports about the company. LADENBURG THALM/SH SH lifted their target price on NexPoint Residential Trust from $41.50 to $44.00 and gave the company a buy rating in a research report on Friday, May 31st. Zacks Investment Research cut NexPoint Residential Trust from a buy rating to a hold rating in a research report on Thursday, August 1st. Compass Point raised NexPoint Residential Trust from a neutral rating to a buy rating and set a $46.50 target price on the stock in a research report on Wednesday, July 31st. Finally, Boenning Scattergood reaffirmed a hold rating on shares of NexPoint Residential Trust in a research report on Wednesday, May 1st. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. NexPoint Residential Trust presently has a consensus rating of Buy and a consensus target price of $44.25.

Shares of NYSE:NXRT opened at $46.53 on Monday. The stock has a market cap of $1.07 billion, a price-to-earnings ratio of 24.75, a PEG ratio of 2.36 and a beta of 0.41. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 3.60. NexPoint Residential Trust has a 12-month low of $31.40 and a 12-month high of $46.70. The business’s 50 day moving average is $43.46 and its 200 day moving average is $39.62.

NexPoint Residential Trust (NYSE:NXRT) last announced its earnings results on Tuesday, July 30th. The financial services provider reported ($0.08) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.46 by ($0.54). The company had revenue of $43.07 million for the quarter, compared to analysts’ expectations of $43.05 million. NexPoint Residential Trust had a negative net margin of 10.21% and a negative return on equity of 6.07%. As a group, equities research analysts expect that NexPoint Residential Trust will post 1.98 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be issued a dividend of $0.275 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $1.10 dividend on an annualized basis and a yield of 2.36%. NexPoint Residential Trust’s dividend payout ratio (DPR) is currently 58.51%.

In other NexPoint Residential Trust news, insider James D. Dondero purchased 500,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were acquired at an average cost of $41.19 per share, for a total transaction of $20,595,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 21.49% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the business. Stephens Inc. AR raised its stake in shares of 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 valued at $575,000 after buying an additional 396 shares during the period. Royal Bank of Canada raised its stake in shares of NexPoint Residential Trust by 35.5% in the second quarter. Royal Bank of Canada now owns 2,305 shares of the financial services provider’s stock valued at $95,000 after buying an additional 604 shares during the period. Envestnet Asset Management Inc. raised its stake in shares of 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 valued at $592,000 after buying an additional 665 shares during the period. First Trust Advisors LP raised its stake in shares of 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 valued at $1,612,000 after buying an additional 695 shares during the period. Finally, A.R.T. Advisors LLC raised its stake in shares of NexPoint Residential Trust by 10.6% in the second quarter. A.R.T. Advisors LLC now owns 7,307 shares of the financial services provider’s stock valued at $303,000 after buying an additional 700 shares during the period. Hedge funds and other institutional investors own 66.22% 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.

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The Fly

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