B. Riley Increases NexPoint Residential Trust (NXRT) Price Target to $37.00

NexPoint Residential Trust (NYSE:NXRT) had its price target lifted by B. Riley from $34.00 to $37.00 in a research note published on Monday morning. B. Riley currently has a buy rating on the financial services provider’s stock.

Several other brokerages also recently commented on NXRT. Boenning Scattergood downgraded shares of NexPoint Residential Trust from an outperform rating to a hold rating in a research report on Tuesday, October 30th. Zacks Investment Research raised shares of NexPoint Residential Trust from a hold rating to a buy rating and set a $38.00 price objective for the company in a research report on Saturday, November 3rd. Finally, ValuEngine raised shares of NexPoint Residential Trust from a hold rating to a buy rating in a research report on Tuesday, July 31st. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of Buy and a consensus target price of $35.50.

Shares of NXRT stock traded up $0.18 during trading hours on Monday, hitting $34.24. 403 shares of the company were exchanged, compared to its average volume of 110,521. The company has a market cap of $671.96 million, a price-to-earnings ratio of 29.22, a price-to-earnings-growth ratio of 1.75 and a beta of 0.59. NexPoint Residential Trust has a fifty-two week low of $23.03 and a fifty-two week high of $38.17. The company has a quick ratio of 2.77, a current ratio of 0.98 and a debt-to-equity ratio of 3.83.

NexPoint Residential Trust (NYSE:NXRT) last announced its quarterly earnings data on Tuesday, October 30th. The financial services provider reported ($0.25) EPS for the quarter, missing the consensus estimate of $0.44 by ($0.69). The company had revenue of $36.50 million for the quarter, compared to analyst estimates of $36.04 million. NexPoint Residential Trust had a negative return on equity of 0.49% and a negative net margin of 0.82%. Analysts anticipate that NexPoint Residential Trust will post 1.71 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 31st. Investors of record on Monday, December 17th will be given a $0.275 dividend. The ex-dividend date is Friday, December 14th. This represents a $1.10 annualized dividend and a yield of 3.21%. This is an increase from NexPoint Residential Trust’s previous quarterly dividend of $0.25. NexPoint Residential Trust’s dividend payout ratio (DPR) is presently 85.47%.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Hillsdale Investment Management Inc. acquired a new stake in NexPoint Residential Trust in the 3rd quarter valued at $1,511,000. JPMorgan Chase & Co. grew its position in NexPoint Residential Trust by 13.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 290,614 shares of the financial services provider’s stock valued at $9,648,000 after purchasing an additional 34,931 shares during the period. Dupont Capital Management Corp lifted its stake in NexPoint Residential Trust by 92.5% during the 3rd quarter. Dupont Capital Management Corp now owns 28,634 shares of the financial services provider’s stock valued at $951,000 after acquiring an additional 13,757 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. bought a new position in NexPoint Residential Trust during the 3rd quarter valued at $940,000. Finally, Wells Fargo & Company MN lifted its stake in NexPoint Residential Trust by 36.0% during the 3rd quarter. Wells Fargo & Company MN now owns 132,640 shares of the financial services provider’s stock valued at $4,404,000 after acquiring an additional 35,107 shares in the last quarter. 61.27% of the stock is owned by institutional investors and hedge funds.

About NexPoint Residential Trust

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.

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