StockNews.com upgraded shares of NexPoint Residential Trust (NYSE:NXRT - Free Report) from a sell rating to a hold rating in a research note released on Friday morning.
NexPoint Residential Trust Stock Performance
NexPoint Residential Trust stock traded down $0.30 during midday trading on Friday, hitting $38.80. The stock had a trading volume of 166,856 shares, compared to its average volume of 102,743. The company has a market capitalization of $985.52 million, a PE ratio of 22.17, a P/E/G ratio of 2.34 and a beta of 1.42. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 3.25. The firm's fifty day moving average is $40.32 and its two-hundred day moving average is $43.27. NexPoint Residential Trust has a 52-week low of $28.20 and a 52-week high of $48.37.
Institutional Trading of NexPoint Residential Trust
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. raised its stake in NexPoint Residential Trust by 34.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 900 shares of the financial services provider's stock worth $39,000 after purchasing an additional 232 shares during the period. Quantinno Capital Management LP lifted its holdings in shares of NexPoint Residential Trust by 4.1% during the third quarter. Quantinno Capital Management LP now owns 6,059 shares of the financial services provider's stock worth $267,000 after purchasing an additional 240 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of NexPoint Residential Trust by 2.1% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,708 shares of the financial services provider's stock worth $531,000 after acquiring an additional 266 shares during the period. Van ECK Associates Corp boosted its holdings in NexPoint Residential Trust by 8.6% during the fourth quarter. Van ECK Associates Corp now owns 4,237 shares of the financial services provider's stock worth $177,000 after buying an additional 336 shares in the last quarter. Finally, Creative Planning raised its stake in shares of NexPoint Residential Trust by 3.0% during the 3rd quarter. Creative Planning now owns 11,785 shares of the financial services provider's stock worth $519,000 after buying an additional 341 shares during the last quarter. Institutional investors and hedge funds own 76.61% of the company's stock.
About NexPoint Residential Trust
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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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