Zacks Investment Research upgraded shares of NexPoint Residential Trust (NYSE:NXRT) from a hold rating to a buy rating in a research report report published on Thursday, Zacks.com reports. Zacks Investment Research currently has $52.00 price target on the financial services provider’s stock.

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. Compass Point upgraded NexPoint Residential Trust from a neutral rating to a buy rating and set a $46.50 target price for the company in a research note on Wednesday, July 31st. Raymond James raised their target price on NexPoint Residential Trust to $51.00 and gave the stock a strong-buy rating in a research note on Monday, August 19th. LADENBURG THALM/SH SH raised their target price on NexPoint Residential Trust from $41.50 to $44.00 and gave the stock a buy rating in a research note on Friday, May 31st. Finally, Boenning Scattergood restated a hold rating on shares of NexPoint Residential Trust in a research note on Wednesday, May 1st. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $44.92.

Shares of NXRT stock opened at $45.47 on Thursday. The firm has a market capitalization of $1.11 billion, a price-to-earnings ratio of 23.13, a price-to-earnings-growth ratio of 2.42 and a beta of 0.41. The company has a debt-to-equity ratio of 3.60, a current ratio of 2.12 and a quick ratio of 2.12. The business has a fifty day moving average of $43.57 and a 200 day moving average of $39.71. NexPoint Residential Trust has a 1 year low of $31.40 and a 1 year high of $46.71.

NexPoint Residential Trust (NYSE:NXRT) last issued its earnings results on Tuesday, July 30th. The financial services provider reported ($0.08) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.46 by ($0.54). The firm had revenue of $43.07 million during the quarter, compared to analysts’ expectations of $43.05 million. NexPoint Residential Trust had a negative return on equity of 6.07% and a negative net margin of 10.21%. As a group, equities research analysts expect that NexPoint Residential Trust will post 2 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be paid a dividend of $0.275 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.42%. NexPoint Residential Trust’s payout ratio is currently 58.51%.

In related news, insider James D. Dondero acquired 500,000 shares of NexPoint Residential Trust stock in a transaction on Tuesday, July 23rd. The stock was acquired at an average price of $41.19 per share, for a total transaction of $20,595,000.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 21.49% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE increased its position in shares of NexPoint Residential Trust by 25.4% during the 4th quarter. Bank of America Corp DE now owns 25,992 shares of the financial services provider’s stock valued at $911,000 after purchasing an additional 5,264 shares during the last quarter. Legal & General Group Plc increased its position in shares of NexPoint Residential Trust by 32.2% during the 4th quarter. Legal & General Group Plc now owns 3,234 shares of the financial services provider’s stock valued at $114,000 after purchasing an additional 788 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of NexPoint Residential Trust by 12.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 248,144 shares of the financial services provider’s stock valued at $8,697,000 after purchasing an additional 26,759 shares during the last quarter. Deutsche Bank AG increased its position in shares of NexPoint Residential Trust by 70.3% during the 4th quarter. Deutsche Bank AG now owns 126,868 shares of the financial services provider’s stock valued at $4,444,000 after purchasing an additional 52,376 shares during the last quarter. Finally, Nisa Investment Advisors LLC purchased a new stake in shares of NexPoint Residential Trust during the 1st quarter valued at $265,000. Institutional investors and hedge funds own 66.22% of the company’s stock.

About NexPoint Residential Trust

NexPoint Residential Trust is a publicly traded REIT, with its shares listed on the New York Stock Exchange under the symbol "NXRT," primarily focused on acquiring, owning and operating well-located middle-income multifamily properties with "value-add" potential in large cities and suburban submarkets of large cities, primarily in the Southeastern and Southwestern United States.

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