NexPoint Residential Trust (NYSE:NXRT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday. The firm currently has a $31.00 price target on the financial services provider’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 12.20% from the stock’s current price.

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 have also recently weighed in on the stock. ValuEngine cut shares of NexPoint Residential Trust from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Ladenburg Thalmann Financial Services reiterated a “buy” rating on shares of NexPoint Residential Trust in a research note on Thursday, November 2nd. B. Riley reiterated a “buy” rating and issued a $28.00 target price (up previously from $27.00) on shares of NexPoint Residential Trust in a research note on Thursday, November 2nd. FBR & Co reiterated a “buy” rating and issued a $27.00 target price on shares of NexPoint Residential Trust in a research note on Thursday, October 26th. Finally, BidaskClub upgraded shares of NexPoint Residential Trust from a “sell” rating to a “hold” rating in a research note on Friday, October 13th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $28.50.

Shares of NexPoint Residential Trust (NYSE NXRT) opened at $27.63 on Friday. The company has a debt-to-equity ratio of 3.09, a current ratio of 1.72 and a quick ratio of 1.72. NexPoint Residential Trust has a one year low of $22.28 and a one year high of $29.40. The firm has a market cap of $581.87 and a PE ratio of 10.23.

In other NexPoint Residential Trust news, insider James D. Dondero purchased 14,065 shares of the company’s stock in a transaction that occurred on Tuesday, January 9th. The stock was purchased at an average price of $27.68 per share, with a total value of $389,319.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider James D. Dondero purchased 18,000 shares of the company’s stock in a transaction that occurred on Thursday, December 14th. The stock was acquired at an average cost of $26.65 per share, with a total value of $479,700.00. The disclosure for this purchase can be found here. Insiders purchased 42,065 shares of company stock valued at $1,154,019 in the last three months. Company insiders own 19.00% of the company’s stock.

A number of large investors have recently bought and sold shares of NXRT. Schwab Charles Investment Management Inc. raised its position in NexPoint Residential Trust by 21.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 130,908 shares of the financial services provider’s stock worth $3,259,000 after purchasing an additional 23,482 shares in the last quarter. Bank of New York Mellon Corp raised its position in NexPoint Residential Trust by 2.8% in the second quarter. Bank of New York Mellon Corp now owns 182,979 shares of the financial services provider’s stock worth $4,555,000 after purchasing an additional 4,939 shares in the last quarter. Principal Financial Group Inc. raised its position in NexPoint Residential Trust by 44.7% in the second quarter. Principal Financial Group Inc. now owns 300,434 shares of the financial services provider’s stock worth $7,478,000 after purchasing an additional 92,818 shares in the last quarter. Chicago Equity Partners LLC acquired a new position in NexPoint Residential Trust in the second quarter worth about $209,000. Finally, Alliancebernstein L.P. raised its position in NexPoint Residential Trust by 15.1% in the second quarter. Alliancebernstein L.P. now owns 17,190 shares of the financial services provider’s stock worth $428,000 after purchasing an additional 2,260 shares in the last quarter. 56.62% of the stock is owned by hedge funds and other institutional investors.

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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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