NexPoint Residential Trust (NXRT) Receives New Coverage from Analysts at Boenning Scattergood

Boenning Scattergood began coverage on shares of NexPoint Residential Trust (NYSE:NXRT) in a research report issued on Monday, MarketBeat Ratings reports. The brokerage set an “outperform” rating and a $35.00 price target on the financial services provider’s stock. Boenning Scattergood’s price objective would indicate a potential upside of 7.69% from the company’s previous close.

The analysts wrote, “We are initiating coverage of NexPoint Residential Trust (NXRT) with an Outperform rating and a price target of $35.00, even though the stock trades at a premium to the peer group and near its 52-week high. What we like about this company is that it has delivered steady growth in NAV, resulting in a high total return to shareholders. It has strong same store sales driven by its value-add renovation program that brings lifestyle amenities to workforce housing. NXRT is externally managed, but fees to the manager are capped and there is no incentive fee. We think the manager’s high level of ownership (>22%) helps align interests of shareholders and manager.””

Several other brokerages have also commented on NXRT. B. Riley increased their price objective on shares of NexPoint Residential Trust from $30.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday, August 1st. TheStreet lowered shares of NexPoint Residential Trust from a “b-” rating to a “c+” rating in a research report on Tuesday, June 19th. ValuEngine raised shares of NexPoint Residential Trust from a “hold” rating to a “buy” rating in a research report on Tuesday, July 31st. Zacks Investment Research raised shares of NexPoint Residential Trust from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a research report on Thursday, August 2nd. Finally, Jefferies Financial Group assumed coverage on shares of NexPoint Residential Trust in a report on Monday, June 11th. They issued a “buy” rating and a $32.00 price target on the stock. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $32.40.

Shares of NXRT stock traded up $0.32 during mid-day trading on Monday, hitting $32.50. 100 shares of the stock traded hands, compared to its average volume of 61,154. The firm has a market cap of $665.99 million, a price-to-earnings ratio of 27.85, a PEG ratio of 1.74 and a beta of 0.81. The company has a debt-to-equity ratio of 3.24, a quick ratio of 2.77 and a current ratio of 2.77. NexPoint Residential Trust has a 52-week low of $23.03 and a 52-week high of $33.64.

NexPoint Residential Trust (NYSE:NXRT) last announced its quarterly earnings data on Tuesday, July 31st. The financial services provider reported ($0.08) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.49). The company had revenue of $35.66 million during the quarter, compared to analysts’ expectations of $35.53 million. NexPoint Residential Trust had a net margin of 40.64% and a return on equity of 23.89%. equities analysts predict that NexPoint Residential Trust will post 1.71 earnings per share for the current fiscal year.

A number of large investors have recently modified their holdings of the stock. Highland Capital Management LP increased its holdings in NexPoint Residential Trust by 6.4% in the 2nd quarter. Highland Capital Management LP now owns 2,453,418 shares of the financial services provider’s stock worth $71,994,000 after buying an additional 148,144 shares during the period. Renaissance Technologies LLC increased its holdings in NexPoint Residential Trust by 7.3% in the 2nd quarter. Renaissance Technologies LLC now owns 1,078,000 shares of the financial services provider’s stock worth $30,669,000 after buying an additional 73,500 shares during the period. Millennium Management LLC increased its holdings in NexPoint Residential Trust by 5.5% in the 2nd quarter. Millennium Management LLC now owns 672,457 shares of the financial services provider’s stock worth $19,131,000 after buying an additional 34,841 shares during the period. Russell Investments Group Ltd. increased its holdings in NexPoint Residential Trust by 90.2% in the 2nd quarter. Russell Investments Group Ltd. now owns 366,196 shares of the financial services provider’s stock worth $10,419,000 after buying an additional 173,662 shares during the period. Finally, Boston Partners increased its holdings in NexPoint Residential Trust by 29.6% in the 2nd quarter. Boston Partners now owns 298,490 shares of the financial services provider’s stock worth $8,492,000 after buying an additional 68,090 shares during the period. Institutional investors own 61.99% of the company’s stock.

NexPoint Residential Trust Company Profile

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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Analyst Recommendations for NexPoint Residential Trust (NYSE:NXRT)

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