NexPoint Residential Trust (NYSE:NXRT) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a research report issued on Tuesday, Zacks.com reports. The brokerage presently has a $44.00 price objective on the financial services provider’s stock. Zacks Investment Research‘s price objective points to a potential upside of 12.50% from the stock’s previous close.
According to Zacks, “NexPoint Residential Trust, Inc. is engaged in acquiring, owning, operating and selectively developing multifamily properties. It operates primarily in the Southeastern United States and Texas. NexPoint Residential Trust, Inc. is based in Dallas, United States. “
NXRT has been the subject of several other reports. B. Riley raised their target price on shares of NexPoint Residential Trust from $37.00 to $41.00 and gave the company a “buy” rating in a research note on Wednesday, February 20th. Boenning Scattergood reiterated a “hold” rating on shares of NexPoint Residential Trust in a research note on Wednesday, February 20th. Finally, Raymond James started coverage on shares of NexPoint Residential Trust in a research note on Wednesday, February 6th. They issued an “outperform” rating and a $41.00 target price for the company. One analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. NexPoint Residential Trust has an average rating of “Buy” and an average target price of $39.20.
NexPoint Residential Trust stock opened at $39.11 on Tuesday. NexPoint Residential Trust has a one year low of $26.60 and a one year high of $40.23. The company has a debt-to-equity ratio of 3.45, a current ratio of 2.88 and a quick ratio of 2.88. The stock has a market cap of $920.43 million, a PE ratio of 20.80, a price-to-earnings-growth ratio of 2.23 and a beta of 0.52.
NexPoint Residential Trust (NYSE:NXRT) last posted its quarterly earnings data on Tuesday, April 30th. The financial services provider reported ($0.19) EPS for the quarter, missing the Zacks’ consensus estimate of $0.44 by ($0.63). NexPoint Residential Trust had a negative return on equity of 6.13% and a negative net margin of 10.49%. The business had revenue of $41.50 million for the quarter, compared to analyst estimates of $41.83 million. On average, sell-side analysts expect that NexPoint Residential Trust will post 1.91 earnings per share for the current fiscal year.
A number of large investors have recently modified their holdings of NXRT. IFP Advisors Inc acquired a new stake in NexPoint Residential Trust in the 4th quarter valued at about $28,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in NexPoint Residential Trust by 108.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,072 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 557 shares during the last quarter. Winslow Evans & Crocker Inc. acquired a new stake in NexPoint Residential Trust in the 4th quarter valued at about $54,000. Oppenheimer Asset Management Inc. acquired a new stake in NexPoint Residential Trust in the 4th quarter valued at about $62,000. Finally, Quantamental Technologies LLC lifted its stake in NexPoint Residential Trust by 318.1% in the 1st quarter. Quantamental Technologies LLC now owns 1,643 shares of the financial services provider’s stock valued at $63,000 after purchasing an additional 1,250 shares during the last quarter. Institutional investors and hedge funds own 65.16% 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.
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