NexPoint Residential Trust (NYSE:NXRT) Stock Rating Lowered by StockNews.com

NexPoint Residential Trust (NYSE:NXRT) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday.

Separately, Raymond James upgraded shares of NexPoint Residential Trust from a “market perform” rating to an “outperform” rating and set a $50.00 price objective on the stock in a research report on Monday, October 21st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $49.00.

NexPoint Residential Trust Trading Down 1.2 %

NYSE NXRT opened at $40.17 on Thursday. NexPoint Residential Trust has a twelve month low of $28.20 and a twelve month high of $48.37. The company has a debt-to-equity ratio of 3.25, a quick ratio of 1.79 and a current ratio of 1.79. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of 22.95, a PEG ratio of 2.40 and a beta of 1.42. The firm’s 50 day moving average price is $40.83 and its two-hundred day moving average price is $43.39.

Hedge Funds Weigh In On NexPoint Residential Trust

Institutional investors and hedge funds have recently modified their holdings of the stock. Jane Street Group LLC grew its holdings in shares of NexPoint Residential Trust by 160.3% during the 3rd 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 in the last quarter. Geode Capital Management LLC boosted its holdings in NexPoint Residential Trust by 0.5% in the third quarter. Geode Capital Management LLC now owns 576,084 shares of the financial services provider’s stock worth $25,358,000 after purchasing an additional 2,740 shares in the last quarter. Franklin Resources Inc. boosted its holdings in NexPoint Residential Trust by 164.0% in 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 in the last quarter. JPMorgan Chase & Co. boosted 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. Finally, BNP Paribas Financial Markets boosted its holdings in NexPoint Residential Trust by 23.4% in the third quarter. BNP Paribas Financial Markets now owns 7,348 shares of the financial services provider’s stock worth $323,000 after purchasing an additional 1,393 shares in the last quarter. 76.61% of the stock is currently owned by hedge funds and other institutional investors.

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.