NexPoint Residential Trust Inc (NASDAQ:NXRT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued 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. “

Other research analysts have also issued research reports about the company. Ladenburg Thalmann Financial Services reaffirmed a “buy” rating on shares of NexPoint Residential Trust in a research report on Wednesday, August 2nd. Canaccord Genuity set a $28.00 price target on NexPoint Residential Trust and gave the stock a “buy” rating in a research report on Tuesday, August 1st. BidaskClub raised NexPoint Residential Trust from a “sell” rating to a “hold” rating in a research report on Tuesday, September 12th. Finally, Janney Montgomery Scott started coverage on NexPoint Residential Trust in a research report on Friday, September 8th. They set a “neutral” rating on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $28.00.

NexPoint Residential Trust (NASDAQ NXRT) opened at 23.48 on Wednesday. The firm has a market cap of $494.09 million and a P/E ratio of 44.64. NexPoint Residential Trust has a 12-month low of $16.67 and a 12-month high of $24.42. The stock’s 50 day moving average is $23.58 and its 200 day moving average is $23.58.

NexPoint Residential Trust (NASDAQ:NXRT) last posted its earnings results on Tuesday, August 1st. The company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.02). The business had revenue of $35.23 million for 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%. NexPoint Residential Trust’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.37 EPS. On average, equities research analysts expect that NexPoint Residential Trust will post ($0.10) EPS for the current year.

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In related news, insider James D. Dondero bought 41,900 shares of the company’s stock in a transaction dated Thursday, August 3rd. The shares were acquired at an average price of $24.28 per share, with a total value of $1,017,332.00. Following the completion of the acquisition, the insider now owns 5,202 shares in the company, valued at approximately $126,304.56. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider James D. Dondero bought 2,000 shares of the company’s stock in a transaction dated Friday, August 11th. The stock was bought at an average cost of $23.30 per share, for a total transaction of $46,600.00. Following the acquisition, the insider now owns 30,725 shares of the company’s stock, valued at approximately $715,892.50. The disclosure for this purchase can be found here. In the last three months, insiders bought 57,500 shares of company stock worth $1,387,418.

Several large investors have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company increased its holdings in shares of NexPoint Residential Trust by 2.7% in the second quarter. The Manufacturers Life Insurance Company now owns 14,817 shares of the company’s stock valued at $369,000 after purchasing an additional 385 shares during the period. State Street Corp increased its holdings in shares of NexPoint Residential Trust by 4.9% in the second quarter. State Street Corp now owns 548,705 shares of the company’s stock valued at $13,653,000 after purchasing an additional 25,552 shares during the period. Numeric Investors LLC increased its holdings in shares of NexPoint Residential Trust by 61.0% in the second quarter. Numeric Investors LLC now owns 547,597 shares of the company’s stock valued at $13,630,000 after purchasing an additional 207,460 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of NexPoint Residential Trust by 8.0% in the second quarter. Dimensional Fund Advisors LP now owns 185,460 shares of the company’s stock valued at $4,616,000 after purchasing an additional 13,751 shares during the period. Finally, Renaissance Technologies LLC increased its holdings in shares of NexPoint Residential Trust by 19.8% in the second quarter. Renaissance Technologies LLC now owns 780,100 shares of the company’s stock valued at $19,417,000 after purchasing an additional 129,000 shares during the period.

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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