NexPoint Residential Trust Inc (NASDAQ:NXRT) was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued on Tuesday.
A number of other analysts have also weighed in on NXRT. Zacks Investment Research upgraded shares of NexPoint Residential Trust from a “hold” rating to a “buy” rating and set a $28.00 target price for the company in a report on Wednesday, July 5th. Canaccord Genuity set a $28.00 target price on shares of NexPoint Residential Trust and gave the stock a “buy” rating in a report on Tuesday, August 1st. Ladenburg Thalmann Financial Services reiterated a “buy” rating on shares of NexPoint Residential Trust in a report on Wednesday, August 2nd. Finally, Janney Montgomery Scott started coverage on shares of NexPoint Residential Trust in a report on Friday. They set a “neutral” rating for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $26.67.
NexPoint Residential Trust (NXRT) opened at 24.34 on Tuesday. The company has a market capitalization of $512.19 million and a price-to-earnings ratio of 46.27. NexPoint Residential Trust has a 52-week low of $16.67 and a 52-week high of $26.10. The stock has a 50 day moving average price of $23.96 and a 200 day moving average price of $24.42.
NexPoint Residential Trust (NASDAQ:NXRT) last posted its earnings results on Tuesday, August 1st. The company reported $0.34 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.36 by $0.02. The firm had revenue of $35.23 million for the quarter, compared to analysts’ expectations of $35.95 million. NexPoint Residential Trust had a return on equity of 14.15% and a net margin of 28.18%. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.37 earnings per share. Equities research analysts forecast that NexPoint Residential Trust will post ($0.13) earnings per share for the current year.
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In related news, insider James D. Dondero acquired 12,600 shares of the stock in a transaction on Monday, August 7th. The stock was acquired at an average cost of $23.81 per share, for a total transaction of $300,006.00. Following the completion of the acquisition, the insider now directly owns 5,202 shares of the company’s stock, valued at approximately $123,859.62. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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 price of $23.30 per share, with a total value of $46,600.00. Following the completion of the acquisition, the insider now directly owns 30,725 shares of the company’s stock, valued at $715,892.50. The disclosure for this purchase can be found here. Insiders acquired 56,500 shares of company stock valued at $1,363,938 over the last 90 days.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in NexPoint Residential Trust by 7.1% in the first quarter. Vanguard Group Inc. now owns 2,015,961 shares of the company’s stock worth $48,706,000 after buying an additional 134,077 shares during the period. Renaissance Technologies LLC lifted its holdings in NexPoint Residential Trust by 19.8% in the second quarter. Renaissance Technologies LLC now owns 780,100 shares of the company’s stock worth $19,417,000 after buying an additional 129,000 shares during the period. State Street Corp lifted its holdings in NexPoint Residential Trust by 4.9% in the second quarter. State Street Corp now owns 548,705 shares of the company’s stock worth $13,653,000 after buying an additional 25,552 shares during the period. Numeric Investors LLC lifted its holdings in NexPoint Residential Trust by 61.0% in the second quarter. Numeric Investors LLC now owns 547,597 shares of the company’s stock worth $13,630,000 after buying an additional 207,460 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in NexPoint Residential Trust by 44.7% in the second quarter. Principal Financial Group Inc. now owns 300,434 shares of the company’s stock worth $7,478,000 after buying an additional 92,818 shares during the period.
NexPoint Residential Trust Company Profile
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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