Raymond James Issues Pessimistic Forecast for NexPoint Residential Trust (NYSE:NXRT) Stock Price

NexPoint Residential Trust (NYSE:NXRT) had its price objective lowered by investment analysts at Raymond James from $50.00 to $44.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Raymond James’ price objective indicates a potential upside of 16.45% from the company’s current price.

Several other research firms have also recently issued reports on NXRT. Truist Financial increased their price target on NexPoint Residential Trust from $41.00 to $42.00 and gave the stock a “hold” rating in a research note on Monday, March 10th. StockNews.com cut NexPoint Residential Trust from a “hold” rating to a “sell” rating in a research note on Saturday, March 1st. Finally, Jefferies Financial Group upped their price objective on NexPoint Residential Trust from $41.00 to $43.00 and gave the company a “hold” rating in a report on Monday, March 10th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, NexPoint Residential Trust has an average rating of “Hold” and an average price target of $46.33.

NexPoint Residential Trust Trading Down 1.3 %

NYSE:NXRT opened at $37.79 on Thursday. NexPoint Residential Trust has a 1 year low of $30.02 and a 1 year high of $48.37. The stock has a market cap of $962.23 million, a price-to-earnings ratio of 21.59, a PEG ratio of 2.34 and a beta of 1.43. The business has a fifty day moving average of $39.63 and a 200-day moving average of $42.54. The company has a debt-to-equity ratio of 3.25, a quick ratio of 1.79 and a current ratio of 1.79.

Institutional Investors Weigh In On NexPoint Residential Trust

Several hedge funds have recently modified their holdings of NXRT. Johnson Financial Group Inc. purchased a new stake in shares of NexPoint Residential Trust during the fourth quarter valued at $35,000. Smartleaf Asset Management LLC lifted its holdings in shares of NexPoint Residential Trust by 104.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 894 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 456 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of NexPoint Residential Trust during the third quarter valued at $42,000. Quest Partners LLC lifted its holdings in shares of NexPoint Residential Trust by 104,800.0% during the third quarter. Quest Partners LLC now owns 1,049 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 1,048 shares during the last quarter. Finally, KBC Group NV lifted its holdings in shares of NexPoint Residential Trust by 60.7% during the third quarter. KBC Group NV now owns 1,424 shares of the financial services provider’s stock valued at $63,000 after purchasing an additional 538 shares during the last quarter. 76.61% of the stock is owned by hedge funds and other institutional investors.

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.