NexPoint Residential Trust (NYSE:NXRT) Upgraded to Buy at Zacks Investment Research

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NexPoint Residential Trust (NYSE:NXRT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, Zacks.com reports. The firm currently has a $52.00 price objective on the financial services provider’s stock. Zacks Investment Research‘s target price suggests a potential upside of 10.71% from the company’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. “

NXRT has been the subject of a number of other research reports. LADENBURG THALM/SH SH raised their price target on NexPoint Residential Trust from $41.50 to $44.00 and gave the company a “buy” rating in a research report on Friday, May 31st. Compass Point upgraded NexPoint Residential Trust from a “neutral” rating to a “buy” rating and set a $46.50 price target for the company in a research report on Wednesday, July 31st. Finally, Raymond James raised their price target on NexPoint Residential Trust to $51.00 and gave the company a “strong-buy” rating in a research report on Monday, August 19th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $46.90.

Shares of NXRT stock opened at $46.97 on Tuesday. NexPoint Residential Trust has a fifty-two week low of $31.64 and a fifty-two week high of $47.45. The stock has a market cap of $1.10 billion, a P/E ratio of 24.98, a P/E/G ratio of 2.41 and a beta of 0.39. The business has a fifty day simple moving average of $45.58 and a 200-day simple moving average of $40.78. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 3.60.

NexPoint Residential Trust (NYSE:NXRT) last announced its quarterly earnings results on Tuesday, July 30th. The financial services provider reported ($0.08) earnings per share 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 analysts’ expectations of $43.05 million. On average, sell-side analysts anticipate that NexPoint Residential Trust will post 2 earnings per share for the current year.

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

Institutional investors have recently bought and sold shares of the stock. Penn Capital Management Co. Inc. acquired a new stake in NexPoint Residential Trust in the 2nd quarter worth about $10,862,000. Rothschild & Co. Asset Management US Inc. boosted its stake in NexPoint Residential Trust by 148.0% in the 2nd quarter. Rothschild & Co. Asset Management US Inc. now owns 315,211 shares of the financial services provider’s stock worth $13,050,000 after buying an additional 188,121 shares during the last quarter. Vanguard Group Inc. boosted its stake in NexPoint Residential Trust by 8.4% in the 2nd quarter. Vanguard Group Inc. now owns 2,128,887 shares of the financial services provider’s stock worth $88,136,000 after buying an additional 164,252 shares during the last quarter. Nuveen Asset Management LLC boosted its stake in NexPoint Residential Trust by 629.9% in the 2nd quarter. Nuveen Asset Management LLC now owns 175,352 shares of the financial services provider’s stock worth $7,259,000 after buying an additional 151,327 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its stake in NexPoint Residential Trust by 82.4% in the 2nd quarter. Wells Fargo & Company MN now owns 187,090 shares of the financial services provider’s stock worth $7,745,000 after buying an additional 84,522 shares during the last quarter. Hedge funds and other institutional investors own 72.09% 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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Analyst Recommendations for NexPoint Residential Trust (NYSE:NXRT)

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