NexPoint Residential Trust (NYSE:NXRT) Price Target Raised to $37.00 at Truist Financial

NexPoint Residential Trust (NYSE:NXRT) had its price target hoisted by analysts at Truist Financial from $34.00 to $37.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has a “hold” rating on the financial services provider’s stock. Truist Financial’s price objective would indicate a potential downside of 0.67% from the stock’s previous close.

Several other equities research analysts also recently weighed in on the company. JMP Securities reaffirmed a “market outperform” rating and set a $40.00 price target on shares of NexPoint Residential Trust in a report on Wednesday, March 6th. Raymond James upgraded shares of NexPoint Residential Trust from an “underperform” rating to a “market perform” rating in a research note on Friday, May 24th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $38.00 price target on shares of NexPoint Residential Trust in a report on Tuesday, June 11th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $37.75.

NexPoint Residential Trust Stock Performance

Shares of NXRT stock opened at $37.25 on Monday. The stock’s 50-day moving average price is $35.52 and its 200 day moving average price is $33.11. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 2.90. The stock has a market capitalization of $956.21 million, a PE ratio of 13.16, a price-to-earnings-growth ratio of 1.10 and a beta of 1.33. NexPoint Residential Trust has a 52-week low of $26.21 and a 52-week high of $49.87.

Insiders Place Their Bets

In related news, insider Brian Mitts sold 5,000 shares of the stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $34.25, for a total value of $171,250.00. Following the sale, the insider now directly owns 66,947 shares of the company’s stock, valued at approximately $2,292,934.75. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 12.96% of the stock is owned by company insiders.

Institutional Investors Weigh In On NexPoint Residential Trust

A number of large investors have recently bought and sold shares of NXRT. Janus Henderson Group PLC lifted its holdings in NexPoint Residential Trust by 22.0% in the 1st quarter. Janus Henderson Group PLC now owns 12,352 shares of the financial services provider’s stock valued at $397,000 after purchasing an additional 2,227 shares in the last quarter. Price T Rowe Associates Inc. MD purchased a new position in shares of NexPoint Residential Trust during the first quarter valued at approximately $212,000. BOKF NA boosted its position in NexPoint Residential Trust by 3.1% during the first quarter. BOKF NA now owns 176,579 shares of the financial services provider’s stock worth $5,575,000 after acquiring an additional 5,248 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its stake in NexPoint Residential Trust by 1.0% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 47,286 shares of the financial services provider’s stock worth $1,521,000 after acquiring an additional 477 shares during the period. Finally, State Board of Administration of Florida Retirement System grew its stake in NexPoint Residential Trust by 53.1% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 9,860 shares of the financial services provider’s stock worth $317,000 after acquiring an additional 3,420 shares during the period. 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.