Zacks Investment Research Downgrades NexPoint Residential Trust Inc (NXRT) to Hold
NexPoint Residential Trust Inc (NASDAQ:NXRT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday, July 12th.
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 issued reports on NXRT. Canaccord Genuity set a $26.00 target price on NexPoint Residential Trust and gave the stock a “buy” rating in a research note on Tuesday, March 14th. Ladenburg Thalmann Financial Services reiterated a “buy” rating on shares of NexPoint Residential Trust in a research note on Wednesday, May 3rd. One analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $25.75.
Shares of NexPoint Residential Trust (NASDAQ:NXRT) opened at 23.81 on Wednesday. The stock has a market cap of $501.03 million and a PE ratio of 45.27. The company’s 50-day moving average price is $25.17 and its 200-day moving average price is $24.39. NexPoint Residential Trust has a 52-week low of $16.67 and a 52-week high of $26.10.
NexPoint Residential Trust (NASDAQ:NXRT) last issued its earnings results on Tuesday, August 1st. The company reported $0.34 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.36 by $0.02. The firm had revenue of $35.23 million during the quarter, compared to analysts’ expectations of $35.95 million. NexPoint Residential Trust had a return on equity of 14.15% and a net margin of 28.18%. The business’s revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the business earned $0.37 EPS. On average, equities research analysts forecast that NexPoint Residential Trust will post ($0.47) earnings per share for the current fiscal year.
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In other NexPoint Residential Trust news, insider James D. Dondero purchased 41,900 shares of the business’s stock in a transaction that occurred on Thursday, August 3rd. The stock was purchased at an average price of $24.28 per share, for a total transaction of $1,017,332.00. Following the purchase, the insider now directly owns 5,202 shares in the company, valued at $126,304.56. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of NexPoint Residential Trust by 7.1% in the first quarter. Vanguard Group Inc. now owns 2,015,961 shares of the company’s stock valued at $48,706,000 after buying an additional 134,077 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of NexPoint Residential Trust by 30.6% in the first quarter. Renaissance Technologies LLC now owns 651,100 shares of the company’s stock valued at $15,731,000 after buying an additional 152,600 shares in the last quarter. State Street Corp raised its position in shares of NexPoint Residential Trust by 1.0% in the fourth quarter. State Street Corp now owns 525,321 shares of the company’s stock valued at $11,735,000 after buying an additional 5,198 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of NexPoint Residential Trust by 77.7% in the first quarter. Principal Financial Group Inc. now owns 207,616 shares of the company’s stock valued at $5,016,000 after buying an additional 90,773 shares in the last quarter. Finally, Lyon Street Capital LLC acquired a new position in shares of NexPoint Residential Trust during the first quarter valued at $4,855,000.
About NexPoint Residential Trust
NexPoint Residential Trust, Inc is an externally managed real estate investment trust (REIT). The Company’s investment objectives are to maximize the cash flow and value of properties owned, acquire properties with cash flow growth potential, provide quarterly cash distributions and achieve long-term capital appreciation for its stockholders through targeted management and a value-add program.
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