NexPoint Residential Trust (NYSE:NXRT) Hits New 12-Month High at $46.70

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NexPoint Residential Trust Inc (NYSE:NXRT)’s stock price hit a new 52-week high on Wednesday . The company traded as high as $46.70 and last traded at $46.53, with a volume of 68374 shares traded. The stock had previously closed at $46.24.

NXRT has been the subject of a number of research reports. Boenning Scattergood reiterated a “hold” rating on shares of NexPoint Residential Trust in a research report on Wednesday, May 1st. LADENBURG THALM/SH SH raised their price objective on shares of NexPoint Residential Trust from $41.50 to $44.00 and gave the company a “buy” rating in a research report on Friday, May 31st. Raymond James raised their price objective on shares of NexPoint Residential Trust to $51.00 and gave the company a “strong-buy” rating in a research report on Monday. Compass Point upgraded shares of NexPoint Residential Trust from a “neutral” rating to a “buy” rating and set a $46.50 price objective for the company in a research report on Wednesday, July 31st. Finally, Zacks Investment Research lowered shares of NexPoint Residential Trust from a “buy” rating to a “hold” rating in a research report on Friday. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $44.92.

The business’s 50-day moving average price is $43.52 and its 200 day moving average price is $39.67. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 3.60. The company has a market capitalization of $1.10 billion, a P/E ratio of 24.73, a price-to-earnings-growth ratio of 2.43 and a beta of 0.41.

NexPoint Residential Trust (NYSE:NXRT) last released its quarterly earnings data on Tuesday, July 30th. The financial services provider reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.54). NexPoint Residential Trust had a negative net margin of 10.21% and a negative return on equity of 6.07%. The firm had revenue of $43.07 million during the quarter, compared to the consensus estimate of $43.05 million. Analysts anticipate that NexPoint Residential Trust Inc will post 2 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date is Thursday, September 12th. NexPoint Residential Trust’s dividend payout ratio is currently 58.51%.

In related news, insider James D. Dondero bought 500,000 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The shares were acquired at an average cost of $41.19 per share, with a total value of $20,595,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 21.49% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Stephens Inc. AR raised its stake in NexPoint Residential Trust by 2.9% in the second quarter. Stephens Inc. AR now owns 13,898 shares of the financial services provider’s stock valued at $575,000 after purchasing an additional 396 shares in the last quarter. Royal Bank of Canada raised its stake in NexPoint Residential Trust by 35.5% in the second quarter. Royal Bank of Canada now owns 2,305 shares of the financial services provider’s stock valued at $95,000 after purchasing an additional 604 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in NexPoint Residential Trust by 4.9% in the second quarter. Envestnet Asset Management Inc. now owns 14,303 shares of the financial services provider’s stock valued at $592,000 after purchasing an additional 665 shares in the last quarter. First Trust Advisors LP raised its stake in NexPoint Residential Trust by 1.7% in the first quarter. First Trust Advisors LP now owns 42,037 shares of the financial services provider’s stock valued at $1,612,000 after purchasing an additional 695 shares in the last quarter. Finally, A.R.T. Advisors LLC raised its stake in NexPoint Residential Trust by 10.6% in the second quarter. A.R.T. Advisors LLC now owns 7,307 shares of the financial services provider’s stock valued at $303,000 after purchasing an additional 700 shares in the last quarter. 66.22% of the stock is currently owned by institutional investors and hedge funds.

About NexPoint Residential Trust (NYSE:NXRT)

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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