NexPoint Residential Trust (NYSE:NXRT) Stock Dropped to Sell by Wall Street Zen

Wall Street Zen downgraded shares of NexPoint Residential Trust (NYSE:NXRT) from a hold rating to a sell rating in a report released on Saturday,Wall Street Zen reports.

Several other brokerages have also recently weighed in on NXRT. Deutsche Bank Aktiengesellschaft set a $23.00 price objective on shares of NexPoint Residential Trust in a research note on Wednesday, September 9th. Citigroup restated a “market perform” rating on shares of NexPoint Residential Trust in a research report on Thursday, August 20th. Citizens Jmp reaffirmed a “market perform” rating on shares of NexPoint Residential Trust in a report on Thursday, August 20th. Zacks Research downgraded shares of NexPoint Residential Trust from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 13th. Finally, Truist Financial dropped their price target on shares of NexPoint Residential Trust from $26.00 to $18.00 and set a “hold” rating on the stock in a research note on Tuesday, September 29th. Three analysts have rated the stock with a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $20.50.

NexPoint Residential Trust Stock Down 4.0%

NexPoint Residential Trust stock opened at $16.29 on Friday. NexPoint Residential Trust has a one year low of $16.06 and a one year high of $32.36. The stock has a fifty day moving average of $20.06 and a 200 day moving average of $25.59. The company has a debt-to-equity ratio of 7.10, a quick ratio of 1.92 and a current ratio of 1.69. The stock has a market cap of $416.11 million, a PE ratio of -11.08, a price-to-earnings-growth ratio of 0.28 and a beta of 1.15.

NexPoint Residential Trust (NYSE:NXRT) last announced its earnings results on Tuesday, November 3rd. The financial services provider reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.41) by ($0.04). The firm had revenue of $64.47 million during the quarter, compared to analysts’ expectations of $64.87 million. NexPoint Residential Trust had a negative return on equity of 14.29% and a negative net margin of 14.59%. As a group, sell-side analysts predict that NexPoint Residential Trust will post 2.23 EPS for the current year.

NexPoint Residential Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Tuesday, December 15th will be paid a $0.53 dividend. The ex-dividend date of this dividend is Tuesday, December 15th. This represents a $2.12 annualized dividend and a dividend yield of 13.0%. NexPoint Residential Trust’s dividend payout ratio (DPR) is -144.22%.

Insider Activity at NexPoint Residential Trust

In related news, insider Matt Mcgraner acquired 5,500 shares of the stock in a transaction dated Monday, October 5th. The shares were purchased at an average cost of $18.42 per share, with a total value of $101,310.00. Following the transaction, the insider directly owned 361,605 shares in the company, valued at approximately $6,660,764.10. This represents a 1.54% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 16.63% of the stock is owned by company insiders.

Institutional Investors Weigh In On NexPoint Residential Trust

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in NexPoint Residential Trust in the 2nd quarter worth $118,748,000. Flax Pond Capital LLC purchased a new position in shares of NexPoint Residential Trust during the first quarter valued at about $4,047,000. Bank of New York Mellon Corp purchased a new position in shares of NexPoint Residential Trust during the second quarter valued at about $4,002,000. Paralel Advisors LLC purchased a new position in shares of NexPoint Residential Trust during the second quarter valued at about $2,013,000. Finally, Bank of America Corp DE bought a new stake in shares of NexPoint Residential Trust in the second quarter worth about $1,591,000. Institutional investors own 76.61% of the company’s stock.

NexPoint Residential Trust Company Profile

NexPoint Residential Trust, Inc (NYSE: NXRT) is a publicly traded real estate investment trust focused on acquiring, owning, operating and selectively renovating multifamily apartment communities. The company generally targets value-add properties, seeking to improve their operating performance and resident appeal through renovations, property management initiatives and other capital improvements.

NexPoint Residential Trust’s portfolio is concentrated primarily in the Southeastern and Southwestern United States.