JMP Securities Reaffirms “Market Perform” Rating for NexPoint Residential Trust (NYSE:NXRT)

JMP Securities reissued their market perform rating on shares of NexPoint Residential Trust (NYSE:NXRT) in a research report released on Monday morning,Benzinga reports.

A number of other equities analysts have also recently issued reports on NXRT. Truist Financial increased their target price on NexPoint Residential Trust from $41.00 to $42.00 and gave the stock a “hold” rating in a report on Monday, March 10th. Raymond James lowered shares of NexPoint Residential Trust from an “outperform” rating to a “market perform” rating in a research note on Thursday, May 15th. Compass Point reiterated a “neutral” rating and set a $42.50 price objective (down from $50.00) on shares of NexPoint Residential Trust in a report on Tuesday, May 13th. StockNews.com downgraded shares of NexPoint Residential Trust from a “hold” rating to a “sell” rating in a research report on Saturday, March 1st. Finally, Jefferies Financial Group raised their price target on shares of NexPoint Residential Trust from $41.00 to $43.00 and gave the company a “hold” rating in a research report on Monday, March 10th. One analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $44.25.

NexPoint Residential Trust Stock Performance

Shares of NXRT opened at $34.58 on Monday. NexPoint Residential Trust has a one year low of $30.98 and a one year high of $48.37. The company has a market cap of $874.46 million, a PE ratio of 19.76, a P/E/G ratio of 2.34 and a beta of 1.14. The stock has a 50-day moving average of $36.94 and a 200-day moving average of $40.27. The company has a debt-to-equity ratio of 3.25, a current ratio of 1.79 and a quick ratio of 1.79.

NexPoint Residential Trust (NYSE:NXRT) last announced its quarterly earnings results on Tuesday, April 29th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.06. NexPoint Residential Trust had a return on equity of 9.54% and a net margin of 17.54%. The business had revenue of $63.22 million for the quarter, compared to analyst estimates of $63.29 million. On average, equities research analysts predict that NexPoint Residential Trust will post 2.86 EPS for the current fiscal year.

NexPoint Residential Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 5.90%. The ex-dividend date of this dividend is Monday, June 16th. NexPoint Residential Trust’s dividend payout ratio is -159.37%.

Insider Transactions at NexPoint Residential Trust

In other NexPoint Residential Trust news, insider Paul Richards bought 5,814 shares of the business’s stock in a transaction dated Monday, April 7th. The shares were purchased at an average price of $33.24 per share, for a total transaction of $193,257.36. Following the purchase, the insider now directly owns 18,493 shares of the company’s stock, valued at approximately $614,707.32. This represents a 45.86% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 15.36% of the company’s stock.

Institutional Trading of NexPoint Residential Trust

Institutional investors and hedge funds have recently modified their holdings of the business. Nexpoint Asset Management L.P. boosted its position in NexPoint Residential Trust by 100.0% in the fourth quarter. Nexpoint Asset Management L.P. now owns 1,562,753 shares of the financial services provider’s stock worth $65,245,000 after purchasing an additional 781,266 shares during the last quarter. Millennium Management LLC raised its stake in shares of NexPoint Residential Trust by 194.3% during the 4th quarter. Millennium Management LLC now owns 284,292 shares of the financial services provider’s stock worth $11,869,000 after purchasing an additional 187,680 shares during the period. Invesco Ltd. raised its stake in shares of NexPoint Residential Trust by 63.9% during the 1st quarter. Invesco Ltd. now owns 330,285 shares of the financial services provider’s stock worth $13,056,000 after purchasing an additional 128,745 shares during the period. BROOKFIELD Corp ON purchased a new position in shares of NexPoint Residential Trust in the 4th quarter worth about $3,863,000. Finally, Jane Street Group LLC bought a new position in NexPoint Residential Trust during the first quarter valued at about $3,410,000. 76.61% of the stock is owned by hedge funds and other institutional investors.

NexPoint Residential Trust Company Profile

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.