Zacks Investment Research Lowers NexPoint Residential Trust Inc (NXRT) to Sell
NexPoint Residential Trust Inc (NASDAQ:NXRT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday.
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 equities analysts have also recently issued reports on the company. Compass Point began coverage on NexPoint Residential Trust in a report on Friday, September 23rd. They issued a “buy” rating and a $24.00 target price for the company. DA Davidson reissued a “buy” rating and issued a $23.00 price target on shares of NexPoint Residential Trust in a research note on Friday, August 26th.
Shares of NexPoint Residential Trust (NASDAQ:NXRT) opened at 19.33 on Tuesday. The firm has a 50-day moving average price of $18.73 and a 200 day moving average price of $18.09. NexPoint Residential Trust has a 1-year low of $10.35 and a 1-year high of $21.47.
NexPoint Residential Trust (NASDAQ:NXRT) last issued its earnings results on Thursday, November 10th. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by $0.04. The business earned $33.10 million during the quarter, compared to analyst estimates of $33.16 million. During the same period in the previous year, the firm posted $0.34 earnings per share. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. Analysts forecast that NexPoint Residential Trust will post $1.47 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Thursday, December 15th will be paid a $0.22 dividend. This is a boost from NexPoint Residential Trust’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Tuesday, December 13th. This represents a $0.88 annualized dividend and a dividend yield of 4.55%.
In other NexPoint Residential Trust news, Director Edward N. Constantino bought 4,815 shares of the firm’s stock in a transaction that occurred on Monday, August 22nd. The stock was acquired at an average price of $20.77 per share, with a total value of $100,007.55. Following the completion of the purchase, the director now directly owns 12,175 shares of the company’s stock, valued at approximately $252,874.75. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider James D. Dondero bought 7,600 shares of the firm’s stock in a transaction that occurred on Friday, September 9th. The shares were acquired at an average cost of $19.74 per share, with a total value of $150,024.00. Following the purchase, the insider now directly owns 5,051 shares of the company’s stock, valued at $99,706.74. The disclosure for this purchase can be found here.
A number of large investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in NexPoint Residential Trust by 28.5% in the third quarter. BlackRock Inc. now owns 6,606 shares of the company’s stock valued at $129,000 after buying an additional 1,464 shares in the last quarter. LSV Asset Management acquired a new stake in NexPoint Residential Trust during the third quarter valued at approximately $137,000. BlackRock Advisors LLC boosted its stake in NexPoint Residential Trust by 14.8% in the third quarter. BlackRock Advisors LLC now owns 10,414 shares of the company’s stock valued at $205,000 after buying an additional 1,342 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in NexPoint Residential Trust by 3.2% in the third quarter. Nomura Asset Management Co. Ltd. now owns 12,380 shares of the company’s stock valued at $243,000 after buying an additional 380 shares in the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new stake in NexPoint Residential Trust during the third quarter valued at approximately $278,000.
About NexPoint Residential Trust
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.
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