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

NexPoint Residential Trust (NYSE:NXRT - Get Free Report) had its price objective raised by investment analysts at Truist Financial from $41.00 to $42.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a "hold" rating on the financial services provider's stock. Truist Financial's target price would indicate a potential upside of 5.13% from the stock's current price.

Separately, StockNews.com downgraded NexPoint Residential Trust from a "hold" rating to a "sell" rating in a report on Saturday, March 1st. One equities 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 company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $47.33.

NexPoint Residential Trust Trading Down 0.8 %

Shares of NexPoint Residential Trust stock traded down $0.31 on Monday, hitting $39.95. The stock had a trading volume of 155,810 shares, compared to its average volume of 122,587. The stock's 50-day simple moving average is $39.83 and its two-hundred day simple moving average is $42.99. NexPoint Residential Trust has a one year low of $29.01 and a one year high of $48.37. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 3.25. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of 22.83, a PEG ratio of 2.34 and a beta of 1.43.

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Hedge Funds Weigh In On NexPoint Residential Trust

A number of institutional investors have recently added to or reduced their stakes in the company. Valley Wealth Managers Inc. bought a new position in shares of NexPoint Residential Trust in the 3rd quarter worth about $27,000. Johnson Financial Group Inc. purchased a new stake in NexPoint Residential Trust in the fourth quarter worth about $35,000. Smartleaf Asset Management LLC increased its stake 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 in the last quarter. Meeder Asset Management Inc. purchased a new position in shares of NexPoint Residential Trust during the third quarter valued at approximately $42,000. Finally, Quest Partners LLC boosted its position in shares of NexPoint Residential Trust by 104,800.0% in the 3rd quarter. Quest Partners LLC now owns 1,049 shares of the financial services provider's stock worth $46,000 after purchasing an additional 1,048 shares in the last quarter. 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.