NexPoint Residential Trust (NYSE:NXRT) Given New $44.00 Price Target at Raymond James

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

NXRT has been the subject of several other reports. Jefferies Financial Group lifted their price target on NexPoint Residential Trust from $41.00 to $43.00 and gave the stock a “hold” rating in a report on Monday, March 10th. StockNews.com downgraded NexPoint Residential Trust from a “hold” rating to a “sell” rating in a report on Saturday, March 1st. Finally, Truist Financial raised their price target on shares of NexPoint Residential Trust from $41.00 to $42.00 and gave the stock a “hold” rating in a research report on Monday, March 10th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $46.33.

NexPoint Residential Trust Stock Down 1.3 %

NexPoint Residential Trust stock opened at $38.34 on Thursday. NexPoint Residential Trust has a twelve month low of $30.02 and a twelve month high of $48.37. The stock has a market cap of $976.34 million, a P/E ratio of 21.91, a P/E/G ratio of 2.34 and a beta of 1.43. The company’s 50-day moving average price is $39.62 and its two-hundred day moving average price is $42.61. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 3.25.

NexPoint Residential Trust Dividend Announcement

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of NXRT. Nexpoint Asset Management L.P. grew its stake in 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 buying an additional 781,266 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of NexPoint Residential Trust by 194.3% during the 4th quarter. Millennium Management LLC now owns 284,292 shares of the financial services provider’s stock worth $11,869,000 after acquiring an additional 187,680 shares during the period. Foundry Partners LLC acquired a new stake in shares of NexPoint Residential Trust during the 3rd quarter worth approximately $6,341,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake 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 acquired a new position in NexPoint Residential Trust during the fourth quarter valued at approximately $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.