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

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

NXRT has been the topic of several other research reports. Raymond James raised their price target on NexPoint Residential Trust from $67.00 to $95.00 and gave the company an outperform rating in a report on Tuesday, February 22nd. StockNews.com cut NexPoint Residential Trust from a hold rating to a sell rating in a report on Friday, June 17th. Finally, BTIG Research began coverage on NexPoint Residential Trust in a report on Monday, May 9th. They set a neutral rating on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $87.20.

NYSE:NXRT opened at $61.38 on Monday. The business’s 50-day moving average price is $74.95 and its two-hundred day moving average price is $80.24. NexPoint Residential Trust has a twelve month low of $53.61 and a twelve month high of $95.04. The stock has a market cap of $1.58 billion, a P/E ratio of 63.28, a PEG 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.

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

In related news, President James D. Dondero purchased 17,050 shares of NexPoint Residential Trust stock in a transaction that occurred on Thursday, June 16th. The shares were acquired at an average cost of $59.01 per share, for a total transaction of $1,006,120.50. Following the transaction, the president now directly owns 2,033,188 shares in the company, valued at $119,978,423.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brian Mitts sold 1,100 shares of the firm’s stock in a transaction that occurred on Tuesday, March 29th. The stock was sold at an average price of $90.80, for a total value of $99,880.00. The disclosure for this sale can be found here. Company insiders own 12.69% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Lido Advisors LLC bought a new stake in shares of NexPoint Residential Trust in the 1st quarter worth approximately $389,000. Meiji Yasuda Asset Management Co Ltd. bought a new stake in shares of NexPoint Residential Trust in the 1st quarter worth approximately $353,000. State Street Corp grew its position in shares of NexPoint Residential Trust by 10.7% in the 1st quarter. State Street Corp now owns 1,364,076 shares of the financial services provider’s stock worth $123,190,000 after buying an additional 131,447 shares during the last quarter. Engineers Gate Manager LP grew its position in shares of NexPoint Residential Trust by 12.6% in the 1st quarter. Engineers Gate Manager LP now owns 2,759 shares of the financial services provider’s stock worth $249,000 after buying an additional 309 shares during the last quarter. Finally, Hsbc Holdings PLC grew its position in shares of NexPoint Residential Trust by 62.6% in the 1st quarter. Hsbc Holdings PLC now owns 12,309 shares of the financial services provider’s stock worth $1,128,000 after buying an additional 4,737 shares during the last quarter. Institutional investors and hedge funds own 77.47% of the company’s stock.

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.

Further Reading

Analyst Recommendations for NexPoint Residential Trust (NYSE:NXRT)

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