Truist Financial Boosts NexPoint Residential Trust (NYSE:NXRT) Price Target to $37.00

NexPoint Residential Trust (NYSE:NXRT) had its price target upped by Truist Financial from $34.00 to $37.00 in a report released on Monday, Benzinga reports. The firm currently has a hold rating on the financial services provider’s stock.

NXRT has been the topic of a number of other reports. JMP Securities restated a market outperform rating and set a $40.00 target price on shares of NexPoint Residential Trust in a research report on Wednesday, March 6th. Raymond James raised shares of NexPoint Residential Trust from an underperform rating to a market perform rating in a research report on Friday, May 24th. Finally, Deutsche Bank Aktiengesellschaft reiterated a hold rating and set a $38.00 target price on shares of NexPoint Residential Trust in a research note on Tuesday, June 11th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of Hold and a consensus target price of $37.75.

NexPoint Residential Trust Stock Down 0.1 %

NexPoint Residential Trust stock opened at $38.01 on Monday. The company has a market capitalization of $975.72 million, a P/E ratio of 13.43, a PEG ratio of 1.13 and a beta of 1.33. The company has a debt-to-equity ratio of 2.90, a quick ratio of 2.66 and a current ratio of 2.66. NexPoint Residential Trust has a fifty-two week low of $26.21 and a fifty-two week high of $49.87. The stock has a 50-day simple moving average of $35.94 and a 200-day simple moving average of $33.23.

NexPoint Residential Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a $0.4624 dividend. This is an increase from NexPoint Residential Trust’s previous quarterly dividend of $0.46. The ex-dividend date is Friday, June 14th. This represents a $1.85 annualized dividend and a dividend yield of 4.87%. NexPoint Residential Trust’s payout ratio is presently 65.37%.

Insider Buying and Selling

In other news, insider Brian Mitts sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $34.25, for a total value of $171,250.00. Following the completion of the sale, the insider now directly owns 66,947 shares of the company’s stock, valued at approximately $2,292,934.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 12.96% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On NexPoint Residential Trust

Large investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. grew its position in NexPoint Residential Trust by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 302,269 shares of the financial services provider’s stock worth $10,407,000 after buying an additional 8,959 shares during the period. State of New Jersey Common Pension Fund D increased its stake in NexPoint Residential Trust by 5.3% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 290,822 shares of the financial services provider’s stock valued at $10,013,000 after purchasing an additional 14,659 shares in the last quarter. BOKF NA increased its stake in NexPoint Residential Trust by 3.1% in the 1st quarter. BOKF NA now owns 176,579 shares of the financial services provider’s stock valued at $5,575,000 after purchasing an additional 5,248 shares in the last quarter. AQR Capital Management LLC raised its holdings in NexPoint Residential Trust by 175.9% during the third quarter. AQR Capital Management LLC now owns 163,547 shares of the financial services provider’s stock worth $5,263,000 after purchasing an additional 104,270 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in NexPoint Residential Trust by 41.7% during the third quarter. Envestnet Asset Management Inc. now owns 145,379 shares of the financial services provider’s stock worth $4,678,000 after purchasing an additional 42,789 shares in the last quarter. Hedge funds and other institutional investors own 76.61% of the company’s stock.

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.