NexPoint Residential Trust (NYSE:NXRT - Free Report) had its target price trimmed by Raymond James from $50.00 to $44.00 in a research report sent to investors on Thursday,Benzinga reports. The brokerage currently has an outperform rating on the financial services provider's stock.
Several other brokerages also recently weighed in on NXRT. StockNews.com downgraded shares of NexPoint Residential Trust from a "hold" rating to a "sell" rating in a research note on Saturday, March 1st. Truist Financial boosted their price objective on shares of NexPoint Residential Trust from $41.00 to $42.00 and gave the company a "hold" rating in a research report on Monday, March 10th. Finally, Jefferies Financial Group upped their price objective on shares of NexPoint Residential Trust from $41.00 to $43.00 and gave the company a "hold" rating in a research note on Monday, March 10th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $46.33.
Read Our Latest Research Report on NexPoint Residential Trust
NexPoint Residential Trust Price Performance
Shares of NYSE NXRT traded up $1.12 during trading on Thursday, reaching $38.96. The company had a trading volume of 125,739 shares, compared to its average volume of 122,044. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 3.25. NexPoint Residential Trust has a twelve month low of $30.02 and a twelve month high of $48.37. The stock has a 50-day moving average price of $39.64 and a two-hundred day moving average price of $42.44. The stock has a market capitalization of $992.10 million, a PE ratio of 22.26, a price-to-earnings-growth ratio of 2.34 and a beta of 1.43.
NexPoint Residential Trust Announces Dividend
The business also recently disclosed 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. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.04 annualized dividend and a dividend yield of 5.24%. NexPoint Residential Trust's payout ratio is currently -20,400.00%.
Institutional Investors Weigh In On NexPoint Residential Trust
A number of institutional investors have recently bought and sold shares of the stock. Johnson Financial Group Inc. acquired a new position in shares of NexPoint Residential Trust in the 4th quarter valued at $35,000. Smartleaf Asset Management LLC raised its position in shares of NexPoint Residential Trust by 104.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 894 shares of the financial services provider's stock worth $37,000 after buying an additional 456 shares during the period. Meeder Asset Management Inc. purchased a new position in shares of NexPoint Residential Trust in the 3rd quarter worth $42,000. Quest Partners LLC boosted 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 valued at $46,000 after acquiring an additional 1,048 shares during the last quarter. Finally, KBC Group NV grew its position in 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 acquiring an additional 538 shares during the period. 76.61% of the stock is currently owned by hedge funds and other institutional investors.
NexPoint Residential Trust Company Profile
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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.
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