NexPoint Residential Trust Inc (NASDAQ:NXRT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Wednesday.
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. “
Several other equities research analysts have also weighed in on the company. DA Davidson restated a “buy” rating and set a $23.00 price target on shares of NexPoint Residential Trust in a research report on Monday, August 15th. Compass Point started coverage on NexPoint Residential Trust in a research report on Friday, September 23rd. They set a “buy” rating and a $24.00 price target on the stock. Finally, Canaccord Genuity started coverage on NexPoint Residential Trust in a research report on Tuesday, June 28th. They set a “buy” rating and a $20.00 price target on the stock.
Shares of NexPoint Residential Trust (NASDAQ:NXRT) opened at 18.17 on Wednesday. The stock’s 50 day moving average price is $19.68 and its 200 day moving average price is $17.27. NexPoint Residential Trust has a 12 month low of $10.35 and a 12 month high of $21.47.
NexPoint Residential Trust (NASDAQ:NXRT) last released its quarterly 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 firm had revenue of $33.70 million for the quarter, compared to the consensus estimate of $33.50 million. Equities analysts predict that NexPoint Residential Trust will post $1.44 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Thursday, September 15th were issued a $0.206 dividend. This represents a $0.82 annualized dividend and a yield of 4.53%. The ex-dividend date was Tuesday, September 13th.
In related news, insider James D. Dondero bought 7,600 shares of the company’s stock in a transaction on Friday, September 9th. The shares were acquired at an average cost of $19.74 per share, with a total value of $150,024.00. Following the completion of the acquisition, the insider now owns 5,051 shares of the company’s stock, valued at approximately $99,706.74. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Edward N. Constantino bought 4,815 shares of the company’s stock in a transaction on Monday, August 22nd. The stock was bought at an average cost of $20.77 per share, for a total transaction of $100,007.55. Following the completion of the acquisition, the director now directly owns 12,175 shares of the company’s stock, valued at approximately $252,874.75. The disclosure for this purchase can be found here.
A hedge fund recently bought a new stake in NexPoint Residential Trust stock. Wedge Capital Management L L P NC bought a new stake in NexPoint Residential Trust Inc (NASDAQ:NXRT) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 74,608 shares of the company’s stock, valued at approximately $1,358,000.
About NexPoint Residential Trust
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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