Compass Point Reiterates $90.00 Price Target for NexPoint Residential Trust (NYSE:NXRT)

Compass Point set a $90.00 price objective on NexPoint Residential Trust (NYSE:NXRTGet Rating) in a research note released on Monday, Stock Target Advisor reports.

A number of other research analysts also recently issued reports on NXRT. Raymond James upped their target price on shares of NexPoint Residential Trust from $67.00 to $95.00 and gave the company an outperform rating in a research report on Tuesday, February 22nd. BTIG Research started coverage on NexPoint Residential Trust in a research note on Monday, May 9th. They issued a neutral rating for the company. Finally, StockNews.com cut NexPoint Residential Trust from a hold rating to a sell rating in a research note on Friday, June 17th. 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 stock. According to MarketBeat, the company has a consensus rating of Hold and a consensus price target of $87.20.

Shares of NYSE NXRT opened at $61.38 on Monday. The firm’s 50-day simple moving average is $74.95 and its 200 day simple moving average is $80.24. The company has a market cap of $1.58 billion, a price-to-earnings ratio of 63.28, a price-to-earnings-growth ratio of 2.34 and a beta of 0.98. The company has a quick ratio of 6.10, a current ratio of 6.09 and a debt-to-equity ratio of 3.14. NexPoint Residential Trust has a 12-month low of $53.61 and a 12-month high of $95.04.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 30th. Shareholders of record on Wednesday, June 15th will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 2.48%. The ex-dividend date of this dividend is Tuesday, June 14th. NexPoint Residential Trust’s payout ratio is 156.70%.

In other news, CFO Brian Mitts sold 1,100 shares of NexPoint Residential Trust stock in a transaction dated Tuesday, March 29th. The stock was sold at an average price of $90.80, for a total transaction of $99,880.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President James D. Dondero acquired 17,050 shares of the business’s stock in a transaction that occurred on Thursday, June 16th. The stock was bought at an average cost of $59.01 per share, for a total transaction of $1,006,120.50. Following the completion of the purchase, the president now owns 2,033,188 shares of the company’s stock, valued at $119,978,423.88. The disclosure for this purchase can be found here. 12.69% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of NXRT. Dimensional Fund Advisors LP grew its stake in shares of NexPoint Residential Trust by 2.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 335,479 shares of the financial services provider’s stock worth $20,760,000 after acquiring an additional 9,573 shares during the period. Voya Investment Management LLC grew its stake in shares of NexPoint Residential Trust by 3.2% during the 3rd quarter. Voya Investment Management LLC now owns 9,405 shares of the financial services provider’s stock worth $582,000 after acquiring an additional 291 shares during the period. Point72 Hong Kong Ltd bought a new position in shares of NexPoint Residential Trust during the 3rd quarter worth $26,000. Citadel Advisors LLC grew its stake in shares of NexPoint Residential Trust by 27.4% during the 3rd quarter. Citadel Advisors LLC now owns 58,970 shares of the financial services provider’s stock worth $3,649,000 after acquiring an additional 12,685 shares during the period. Finally, Thrivent Financial for Lutherans grew its stake in shares of NexPoint Residential Trust by 0.4% during the 3rd quarter. Thrivent Financial for Lutherans now owns 181,851 shares of the financial services provider’s stock worth $11,253,000 after acquiring an additional 788 shares during the period. 77.47% of the stock is currently owned by hedge funds and other institutional investors.

NexPoint Residential Trust Company Profile (Get Rating)

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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