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 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 research analysts have also issued reports on the company. Compass Point began coverage on NexPoint Residential Trust in a research report on Friday, September 23rd. They issued a “buy” rating and a $24.00 price target for the company. DA Davidson restated a “buy” rating and issued a $23.00 price target on shares of NexPoint Residential Trust in a research report on Friday, August 26th.

NexPoint Residential Trust (NASDAQ:NXRT) opened at 19.75 on Tuesday. The stock has a market cap of $415.94 million and a PE ratio of 21.51. NexPoint Residential Trust has a one year low of $10.35 and a one year high of $21.47. The stock has a 50 day moving average price of $18.68 and a 200-day moving average price of $18.30.

NexPoint Residential Trust (NASDAQ:NXRT) last released its quarterly earnings results on Thursday, November 10th. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by $0.04. The company earned $33.10 million during the quarter, compared to the consensus estimate of $33.16 million. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period last year, the firm earned $0.34 earnings per share. Equities research analysts expect that NexPoint Residential Trust will post $1.44 earnings per share for the current fiscal 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 given a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, December 13th. This is a positive change from NexPoint Residential Trust’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a dividend yield of 4.46%.

In other NexPoint Residential Trust news, insider James D. Dondero acquired 7,600 shares of the stock in a transaction that occurred on Friday, September 9th. The stock was bought at an average cost of $19.74 per share, for a total transaction of $150,024.00. Following the completion of the transaction, the insider now owns 5,051 shares of the company’s stock, valued at approximately $99,706.74. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

A number of hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. raised its position in shares of 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 during the last quarter. LSV Asset Management acquired a new position in shares of NexPoint Residential Trust during the third quarter valued at $137,000. BlackRock Advisors LLC raised its position in shares of 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 during the last quarter. Nomura Asset Management Co. Ltd. raised its position in shares of 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 during the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of NexPoint Residential Trust during the third quarter valued at $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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