NexPoint Residential Trust (NYSE:NXRT) Stock Price Expected to Rise, Truist Financial Analyst Says

NexPoint Residential Trust (NYSE:NXRT) had its target price hoisted by Truist Financial from $41.00 to $42.00 in a research note released on Monday morning,Benzinga reports. The firm currently has a hold rating on the financial services provider’s stock.

Separately, StockNews.com cut shares of NexPoint Residential Trust from a “hold” rating to a “sell” rating in a report on Saturday, March 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $47.33.

NexPoint Residential Trust Trading Down 1.1 %

NYSE:NXRT opened at $39.50 on Monday. The company’s 50 day moving average price is $39.75 and its 200-day moving average price is $42.92. NexPoint Residential Trust has a 52 week low of $29.01 and a 52 week high of $48.37. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 3.25. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of 22.57, a PEG ratio of 2.34 and a beta of 1.43.

NexPoint Residential Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 5.16%. The ex-dividend date of this dividend is Friday, March 14th. NexPoint Residential Trust’s dividend payout ratio is currently -20,400.00%.

Institutional Investors Weigh In On NexPoint Residential Trust

Several institutional investors and hedge funds have recently added to or reduced their stakes in NXRT. Valley Wealth Managers Inc. bought a new position in NexPoint Residential Trust in the third quarter worth approximately $27,000. Smartleaf Asset Management LLC raised its position in NexPoint Residential Trust by 104.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 894 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 456 shares during the period. Johnson Financial Group Inc. bought a new position in NexPoint Residential Trust in the fourth quarter worth approximately $35,000. Meeder Asset Management Inc. bought a new position in NexPoint Residential Trust in the third quarter worth approximately $42,000. Finally, Quest Partners LLC raised its position in NexPoint Residential Trust by 104,800.0% in the third quarter. Quest Partners LLC now owns 1,049 shares of the financial services provider’s stock worth $46,000 after acquiring an additional 1,048 shares during the period. Hedge funds and other institutional investors own 76.61% 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.