NexPoint Residential Trust (NYSE:NXRT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Saturday. The firm currently has a $30.00 target price on the financial services provider’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 8.93% from the stock’s previous close.
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 brokerages have also commented on NXRT. B. Riley lifted their price objective on shares of NexPoint Residential Trust from $27.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, November 1st. Ladenburg Thalmann Financial Services reaffirmed a “buy” rating on shares of NexPoint Residential Trust in a research report on Thursday, November 2nd. BidaskClub lowered shares of NexPoint Residential Trust from a “hold” rating to a “sell” rating in a research report on Friday, October 6th. ValuEngine lowered shares of NexPoint Residential Trust from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Finally, FBR & Co began coverage on shares of NexPoint Residential Trust in a research report on Thursday, October 26th. They issued a “buy” rating and a $27.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $28.25.
In other NexPoint Residential Trust news, insider James D. Dondero purchased 10,000 shares of the stock in a transaction dated Monday, December 18th. The shares were bought at an average price of $28.50 per share, with a total value of $285,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James D. Dondero purchased 18,000 shares of the stock in a transaction dated Thursday, December 14th. The stock was acquired at an average cost of $26.65 per share, for a total transaction of $479,700.00. The disclosure for this purchase can be found here. In the last three months, insiders bought 29,100 shares of company stock worth $790,407. Insiders own 19.00% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of NXRT. Chicago Equity Partners LLC bought a new stake in shares of NexPoint Residential Trust in the second quarter valued at approximately $209,000. Great West Life Assurance Co. Can increased its holdings in NexPoint Residential Trust by 0.3% during the 2nd quarter. Great West Life Assurance Co. Can now owns 10,225 shares of the financial services provider’s stock worth $254,000 after acquiring an additional 29 shares during the period. The Manufacturers Life Insurance Company increased its holdings in NexPoint Residential Trust by 2.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 14,817 shares of the financial services provider’s stock worth $369,000 after acquiring an additional 385 shares during the period. Virginia Retirement Systems ET AL increased its holdings in NexPoint Residential Trust by 7.6% during the 2nd quarter. Virginia Retirement Systems ET AL now owns 15,500 shares of the financial services provider’s stock worth $386,000 after acquiring an additional 1,100 shares during the period. Finally, Boothbay Fund Management LLC bought a new stake in NexPoint Residential Trust during the 3rd quarter worth approximately $415,000. 56.62% of the stock is currently owned by 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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