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

NexPoint Residential Trust (NYSE:NXRT) had its target price raised by Truist Financial from $41.00 to $42.00 in a research note released on Monday,Benzinga reports. The brokerage currently has a hold rating on the financial services provider’s stock.

Separately, StockNews.com downgraded NexPoint Residential Trust from a “hold” rating to a “sell” rating in a research note on Saturday, March 1st. 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. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $47.33.

NexPoint Residential Trust Stock Performance

Shares of NexPoint Residential Trust stock opened at $40.32 on Monday. The firm’s fifty day simple moving average is $39.83 and its 200-day simple moving average is $42.99. NexPoint Residential Trust has a 12 month low of $29.01 and a 12 month high of $48.37. The company has a debt-to-equity ratio of 3.25, a current ratio of 1.79 and a quick ratio of 1.79. The stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of 23.04, a PEG ratio of 2.34 and a beta of 1.43.

NexPoint Residential Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 5.06%. The ex-dividend date is Friday, March 14th. NexPoint Residential Trust’s payout ratio is -20,400.00%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of NXRT. Jane Street Group LLC lifted its holdings in NexPoint Residential Trust by 160.3% in 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 during the last quarter. Geode Capital Management LLC increased its position in NexPoint Residential Trust by 0.5% in the 3rd 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 during the last quarter. Franklin Resources Inc. grew its stake in shares of NexPoint Residential Trust by 164.0% in the 3rd quarter. Franklin Resources Inc. now owns 34,865 shares of the financial services provider’s stock valued at $1,506,000 after buying 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 raised its position in shares of 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 valued at $323,000 after purchasing an additional 1,393 shares during the period. Institutional investors own 76.61% of the company’s stock.

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.