NexPoint Residential Trust Inc (NASDAQ:NXRT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note 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. “
Several other research analysts have also recently weighed in on NXRT. Canaccord Genuity set a $28.00 price target on shares of NexPoint Residential Trust and gave the stock a “buy” rating in a report on Tuesday, August 1st. Ladenburg Thalmann Financial Services restated a “buy” rating on shares of NexPoint Residential Trust in a report on Wednesday, August 2nd. Janney Montgomery Scott started coverage on shares of NexPoint Residential Trust in a report on Friday, September 8th. They set a “neutral” rating on the stock. Finally, BidaskClub upgraded shares of NexPoint Residential Trust from a “sell” rating to a “hold” rating in a report on Tuesday, September 12th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. NexPoint Residential Trust currently has an average rating of “Hold” and an average target price of $28.00.
NexPoint Residential Trust (NASDAQ:NXRT) last released its quarterly 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). NexPoint Residential Trust had a return on equity of 14.15% and a net margin of 28.18%. The firm had revenue of $35.23 million for the quarter, compared to analysts’ expectations of $35.95 million. During the same quarter last year, the firm posted $0.37 earnings per share. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year.
In related news, insider James D. Dondero acquired 1,100 shares of the stock in a transaction on Tuesday, October 10th. The shares were acquired at an average price of $23.37 per share, with a total value of $25,707.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider James D. Dondero acquired 2,000 shares of the stock in a transaction on 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 transaction, 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 ninety days, insiders acquired 58,600 shares of company stock worth $1,413,125.
A number of hedge funds have recently made changes to their positions in NXRT. Bank of New York Mellon Corp raised its position in NexPoint Residential Trust by 6.6% in the first quarter. Bank of New York Mellon Corp now owns 178,040 shares of the company’s stock worth $4,302,000 after acquiring an additional 10,959 shares during the period. Ameriprise Financial Inc. raised its position in NexPoint Residential Trust by 66.8% in the first quarter. Ameriprise Financial Inc. now owns 24,048 shares of the company’s stock worth $581,000 after acquiring an additional 9,630 shares during the period. Parametric Portfolio Associates LLC raised its position in NexPoint Residential Trust by 6.9% in the first quarter. Parametric Portfolio Associates LLC now owns 28,050 shares of the company’s stock worth $678,000 after acquiring an additional 1,807 shares during the period. American International Group Inc. raised its position in NexPoint Residential Trust by 7.1% in the first quarter. American International Group Inc. now owns 11,059 shares of the company’s stock worth $267,000 after acquiring an additional 731 shares during the period. Finally, Alliancebernstein L.P. raised its position in NexPoint Residential Trust by 17.6% in the first quarter. Alliancebernstein L.P. now owns 14,930 shares of the company’s stock worth $361,000 after acquiring an additional 2,230 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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