NexPoint Residential Trust (NYSE:NXRT) Price Target Raised to $42.00

NexPoint Residential Trust (NYSE:NXRT) had its price target lifted by Truist Financial from $41.00 to $42.00 in a research report sent to investors on Monday,Benzinga reports. Truist Financial 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 research report on Saturday, March 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $47.33.

NexPoint Residential Trust Price Performance

Shares of NYSE:NXRT opened at $39.50 on Monday. The stock has a market cap of $1.01 billion, a PE ratio of 22.57, a PEG ratio of 2.34 and a beta of 1.43. The company’s fifty day moving average is $39.75 and its 200 day moving average 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.

NexPoint Residential Trust Dividend Announcement

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

Institutional Investors Weigh In On NexPoint Residential Trust

A number of hedge funds and other institutional investors have recently bought and sold shares of NXRT. Van ECK Associates Corp grew its holdings in NexPoint Residential Trust by 12.3% in the third quarter. Van ECK Associates Corp now owns 3,901 shares of the financial services provider’s stock worth $173,000 after purchasing an additional 428 shares during the period. MQS Management LLC purchased a new stake in NexPoint Residential Trust in the third quarter worth about $290,000. KBC Group NV grew its holdings in NexPoint Residential Trust by 60.7% in the third quarter. KBC Group NV now owns 1,424 shares of the financial services provider’s stock worth $63,000 after purchasing an additional 538 shares during the period. Valley Wealth Managers Inc. purchased a new stake in NexPoint Residential Trust in the third quarter worth about $27,000. Finally, Quest Partners LLC grew its holdings 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 purchasing an additional 1,048 shares during the period. Hedge funds and other institutional investors 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.