Raymond James Has Lowered Expectations for NexPoint Residential Trust (NYSE:NXRT) Stock Price

NexPoint Residential Trust (NYSE:NXRT) had its target price lowered by Raymond James from $50.00 to $44.00 in a research report sent to investors on Thursday morning,Benzinga reports. The brokerage currently has an outperform rating on the financial services provider’s stock.

Other research analysts have also recently issued reports about the company. Truist Financial increased their price target on NexPoint Residential Trust from $41.00 to $42.00 and gave the company a “hold” rating in a research note on Monday, March 10th. Jefferies Financial Group increased their target price on NexPoint Residential Trust from $41.00 to $43.00 and gave the company a “hold” rating in a research report on Monday, March 10th. Finally, StockNews.com cut NexPoint Residential Trust from a “hold” rating to a “sell” rating in a report on Saturday, March 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $46.33.

NexPoint Residential Trust Price Performance

NXRT stock opened at $38.34 on Thursday. The stock has a market cap of $976.34 million, a price-to-earnings ratio of 21.91, a P/E/G ratio of 2.34 and a beta of 1.43. 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 50 day simple moving average of $39.62 and a 200 day simple moving average of $42.61. NexPoint Residential Trust has a 1 year low of $30.02 and a 1 year high of $48.37.

NexPoint Residential Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a $0.51 dividend. The ex-dividend date is Friday, March 14th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 5.32%. NexPoint Residential Trust’s dividend payout ratio (DPR) is currently -20,400.00%.

Institutional Investors Weigh In On NexPoint Residential Trust

Several large investors have recently modified their holdings of the company. Jane Street Group LLC boosted its position in NexPoint Residential Trust by 160.3% during the third quarter. Jane Street Group LLC now owns 58,040 shares of the financial services provider’s stock valued at $2,554,000 after acquiring an additional 35,741 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of NexPoint Residential Trust by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 576,084 shares of the financial services provider’s stock valued at $25,358,000 after purchasing an additional 2,740 shares during the period. Proficio Capital Partners LLC bought a new stake in shares of NexPoint Residential Trust during the 4th quarter valued at about $458,000. Franklin Resources Inc. grew its stake in NexPoint Residential Trust by 164.0% during the third quarter. Franklin Resources Inc. now owns 34,865 shares of the financial services provider’s stock worth $1,506,000 after purchasing an additional 21,660 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in NexPoint Residential Trust by 16.7% in the third quarter. JPMorgan Chase & Co. now owns 117,090 shares of the financial services provider’s stock worth $5,153,000 after purchasing an additional 16,746 shares in the last quarter. 76.61% of the stock is currently owned by institutional investors and hedge funds.

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.