Investment analysts at Compass Point initiated coverage on shares of NexPoint Residential Trust Inc (NASDAQ:NXRT) in a report issued on Friday. The brokerage set a “buy” rating and a $24.00 price target on the stock. Compass Point’s price target indicates a potential upside of 15.33% from the company’s current price.
Several other equities analysts also recently weighed in on the stock. DA Davidson restated a “buy” rating and set a $23.00 target price on shares of NexPoint Residential Trust in a report on Friday, August 26th. Zacks Investment Research upgraded shares of NexPoint Residential Trust from a “strong sell” rating to a “hold” rating in a report on Thursday, June 30th. Finally, Canaccord Genuity assumed coverage on shares of NexPoint Residential Trust in a report on Tuesday, June 28th. They set a “buy” rating and a $20.00 target price for the company.
Shares of NexPoint Residential Trust (NASDAQ:NXRT) opened at 20.81 on Friday. The stock has a 50 day moving average of $20.29 and a 200-day moving average of $16.82. NexPoint Residential Trust has a 1-year low of $10.35 and a 1-year high of $21.47.
NexPoint Residential Trust (NASDAQ:NXRT) last posted its earnings results on Tuesday, August 9th. The company reported $0.34 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.01. The business had revenue of $33.70 million for the quarter, compared to analysts’ expectations of $33.50 million. On average, equities analysts anticipate that NexPoint Residential Trust will post $1.44 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Thursday, September 15th will be paid a dividend of $0.206 per share. The ex-dividend date of this dividend is Tuesday, September 13th. This represents a $0.82 annualized dividend and a dividend yield of 3.96%.
In other news, Director Edward N. Constantino purchased 4,815 shares of the firm’s stock in a transaction on Monday, August 22nd. The shares were bought at an average cost of $20.77 per share, with a total value of $100,007.55. Following the purchase, the director now directly owns 12,175 shares of the company’s stock, valued at $252,874.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider James D. Dondero purchased 7,800 shares of the firm’s stock in a transaction on Thursday, August 11th. The shares were purchased at an average cost of $19.25 per share, for a total transaction of $150,150.00. The disclosure for this purchase can be found here.
An institutional investor recently raised its position in NexPoint Residential Trust stock. Schwab Charles Investment Management Inc. boosted its stake in NexPoint Residential Trust Inc (NASDAQ:NXRT) by 12.1% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 109,405 shares of the company’s stock after buying an additional 11,792 shares during the period. Schwab Charles Investment Management Inc.’s holdings in NexPoint Residential Trust were worth $1,992,000 at the end of the most recent quarter.
NexPoint Residential Trust Company Profile
NexPoint Residential Trust, Inc is an externally managed real estate investment trust (REIT). The Company is focused on multifamily investments primarily located in the Southeastern and Southwestern United States. All of the Company’s business operations are conducted through NexPoint Residential Trust Operating Partnership, L.P.
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