NexPoint Residential Trust (NYSE:NXRT) Downgraded to “Sell” Rating by StockNews.com

StockNews.com lowered shares of NexPoint Residential Trust (NYSE:NXRT) from a hold rating to a sell rating in a research report sent to investors on Friday.

NXRT has been the subject of several other research reports. Raymond James upgraded shares of NexPoint Residential Trust from a “market perform” rating to an “outperform” rating and set a $50.00 target price for the company in a report on Monday, October 21st. Deutsche Bank Aktiengesellschaft increased their price target on NexPoint Residential Trust from $38.00 to $44.00 and gave the stock a “hold” rating in a report on Tuesday, September 10th. Finally, Truist Financial boosted their price objective on NexPoint Residential Trust from $37.00 to $46.00 and gave the company a “hold” rating in a report on Tuesday, August 27th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, NexPoint Residential Trust has a consensus rating of “Hold” and a consensus target price of $49.00.

NexPoint Residential Trust Stock Performance

NYSE:NXRT opened at $42.52 on Friday. The company has a debt-to-equity ratio of 3.25, a current ratio of 1.79 and a quick ratio of 1.79. The company has a market cap of $1.08 billion, a price-to-earnings ratio of 24.30, a PEG ratio of 2.69 and a beta of 1.40. NexPoint Residential Trust has a 1 year low of $28.20 and a 1 year high of $48.37. The stock’s 50 day simple moving average is $44.87 and its two-hundred day simple moving average is $43.21.

NexPoint Residential Trust (NYSE:NXRT) last posted its earnings results on Tuesday, October 29th. The financial services provider reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($1.01). NexPoint Residential Trust had a return on equity of 9.54% and a net margin of 17.54%. The business had revenue of $64.10 million during the quarter, compared to the consensus estimate of $64.69 million. During the same quarter last year, the firm earned $0.76 earnings per share. As a group, equities analysts anticipate that NexPoint Residential Trust will post 2.78 earnings per share for the current fiscal year.

NexPoint Residential Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be issued a dividend of $0.51 per share. This is an increase from NexPoint Residential Trust’s previous quarterly dividend of $0.46. This represents a $2.04 annualized dividend and a yield of 4.80%. The ex-dividend date of this dividend is Friday, December 13th. NexPoint Residential Trust’s dividend payout ratio (DPR) is presently 116.57%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NXRT. Long Pond Capital LP bought a new position in shares of NexPoint Residential Trust during the second quarter valued at approximately $24,273,000. Foundry Partners LLC bought a new stake in NexPoint Residential Trust during the 3rd quarter valued at $6,341,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of NexPoint Residential Trust by 386.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 126,755 shares of the financial services provider’s stock valued at $5,578,000 after acquiring an additional 100,714 shares during the period. Jane Street Group LLC raised its position in shares of NexPoint Residential Trust by 160.3% in the 3rd quarter. Jane Street Group LLC now owns 58,040 shares of the financial services provider’s stock worth $2,554,000 after acquiring an additional 35,741 shares in the last quarter. Finally, Tidal Investments LLC purchased a new stake in shares of NexPoint Residential Trust during the 3rd quarter worth $1,166,000. 76.61% of the stock is currently owned by institutional investors.

NexPoint Residential Trust Company Profile

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.