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

StockNews.com upgraded shares of NexPoint Residential Trust (NYSE:NXRT) from a sell rating to a hold rating in a research note issued to investors on Friday morning.

NexPoint Residential Trust Stock Performance

Shares of NXRT stock opened at $38.80 on Friday. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 3.25. The firm has a fifty day moving average price of $40.20 and a 200 day moving average price of $43.24. The company has a market cap of $985.52 million, a P/E ratio of 22.17, a PEG ratio of 2.34 and a beta of 1.42. NexPoint Residential Trust has a 12 month low of $28.20 and a 12 month high of $48.37.

Hedge Funds Weigh In On NexPoint Residential Trust

A number of institutional investors and hedge funds have recently modified their holdings of NXRT. Nexpoint Asset Management L.P. grew its stake in shares of NexPoint Residential Trust by 100.0% during the fourth quarter. Nexpoint Asset Management L.P. now owns 1,562,753 shares of the financial services provider’s stock worth $65,245,000 after purchasing an additional 781,266 shares in the last quarter. Millennium Management LLC lifted its position in NexPoint Residential Trust by 194.3% in the fourth quarter. Millennium Management LLC now owns 284,292 shares of the financial services provider’s stock valued at $11,869,000 after acquiring an additional 187,680 shares during the last quarter. Foundry Partners LLC purchased a new stake in NexPoint Residential Trust in the third quarter valued at $6,341,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in NexPoint Residential Trust by 386.8% in the third 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 last quarter. Finally, BROOKFIELD Corp ON purchased a new stake in NexPoint Residential Trust in the fourth quarter valued at $3,863,000. Institutional investors and hedge funds own 76.61% of the company’s stock.

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.