NexPoint Residential Trust Inc (NASDAQ:NXRT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday.

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 brokerages have also recently issued reports on NXRT. DA Davidson reaffirmed a “buy” rating and set a $23.00 price objective on shares of NexPoint Residential Trust in a research note on Friday, August 26th. Compass Point assumed coverage on NexPoint Residential Trust in a research note on Friday, September 23rd. They set a “buy” rating and a $24.00 price objective on the stock. Finally, Canaccord Genuity assumed coverage on NexPoint Residential Trust in a research note on Tuesday, June 28th. They set a “buy” rating and a $20.00 price objective on the stock.

Shares of NexPoint Residential Trust (NASDAQ:NXRT) opened at 17.80 on Wednesday. NexPoint Residential Trust has a 12 month low of $10.35 and a 12 month high of $21.47. The company has a 50-day moving average price of $19.83 and a 200-day moving average price of $17.26.

NexPoint Residential Trust (NASDAQ:NXRT) last announced its quarterly earnings data on Tuesday, August 9th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.01. The company had revenue of $33.70 million for the quarter, compared to the consensus estimate of $33.50 million. On average, analysts predict that NexPoint Residential Trust will post $1.44 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Thursday, September 15th were issued a dividend of $0.206 per share. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.63%.

In other news, Director Edward N. Constantino bought 4,815 shares of the company’s stock in a transaction dated Monday, August 22nd. The stock was bought at an average cost of $20.77 per share, for a total transaction of $100,007.55. Following the completion of the acquisition, the director now owns 12,175 shares in the company, valued at approximately $252,874.75. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider James D. Dondero bought 7,600 shares of the company’s stock in a transaction dated Friday, September 9th. The shares were purchased at an average price of $19.74 per share, with a total value of $150,024.00. Following the completion of the acquisition, the insider now owns 5,051 shares of the company’s stock, valued at approximately $99,706.74. The disclosure for this purchase can be found here.

An institutional investor recently bought a new position in NexPoint Residential Trust stock. Wedge Capital Management L L P NC bought a new position in NexPoint Residential Trust Inc (NASDAQ:NXRT) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 74,608 shares of the company’s stock, valued at approximately $1,358,000.

NexPoint Residential Trust Company Profile

NexPoint Residential Trust, Inc is an externally managed real estate investment trust (REIT). The Company is focused on multifamily investments primarily located in the Southeastern and Southwestern United States. All of the Company’s business operations are conducted through NexPoint Residential Trust Operating Partnership, L.P.

5 Day Chart for NASDAQ:NXRT

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