NexPoint Residential Trust Inc (NXRT) Upgraded to Hold at Zacks Investment Research
NexPoint Residential Trust Inc (NASDAQ:NXRT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Thursday.
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. “
Several other equities research analysts also recently weighed in on NXRT. DA Davidson reissued a “buy” rating and set a $23.00 price objective on shares of NexPoint Residential Trust in a report on Friday, August 26th. Compass Point assumed coverage on NexPoint Residential Trust in a report on Friday, September 23rd. They set a “buy” rating and a $24.00 price objective on the stock.
Shares of NexPoint Residential Trust (NASDAQ:NXRT) opened at 19.62 on Thursday. The firm has a 50 day moving average price of $19.00 and a 200 day moving average price of $18.55. NexPoint Residential Trust has a one year low of $10.35 and a one year high of $21.47.
NexPoint Residential Trust (NASDAQ:NXRT) last released its quarterly earnings data on Thursday, November 10th. The company reported $0.32 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by $0.04. The company earned $33.10 million during the quarter, compared to the consensus estimate of $33.16 million. During the same quarter last year, the business posted $0.34 earnings per share. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. On average, analysts forecast that NexPoint Residential Trust will post $1.44 EPS for the current fiscal year.
The firm also recently disclosed 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 represents a $0.88 dividend on an annualized basis and a dividend yield of 4.49%. This is an increase from NexPoint Residential Trust’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Tuesday, December 13th.
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In other news, insider James D. Dondero bought 7,600 shares of the firm’s stock in a transaction that occurred on Friday, September 9th. The stock was acquired at an average cost of $19.74 per share, with a total value of $150,024.00. Following the transaction, the insider now directly owns 5,051 shares of the company’s stock, valued at approximately $99,706.74. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
A number of hedge funds have recently modified their holdings of the company. BlackRock Inc. raised its stake 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 worth $129,000 after buying an additional 1,464 shares in the last quarter. LSV Asset Management bought a new stake in shares of NexPoint Residential Trust during the third quarter worth approximately $137,000. BlackRock Advisors LLC raised its stake 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 worth $205,000 after buying an additional 1,342 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its stake 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 worth $243,000 after buying an additional 380 shares in the last quarter. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of NexPoint Residential Trust during the third quarter worth approximately $278,000.
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.
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