Zacks Investment Research cut shares of NexPoint Residential Trust Inc (NASDAQ:NXRT) from a hold rating to a sell rating in a research note released 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. “
NXRT has been the topic of several other reports. DA Davidson reiterated a buy rating and set a $23.00 price objective on shares of NexPoint Residential Trust in a report on Friday, August 26th. 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 price objective on the stock. Finally, Compass Point assumed coverage on shares of NexPoint Residential Trust in a report on Friday, September 23rd. They set a buy rating and a $24.00 price objective on the stock.
NexPoint Residential Trust (NASDAQ:NXRT) opened at 18.77 on Wednesday. The company has a 50-day moving average of $19.56 and a 200-day moving average of $17.42. NexPoint Residential Trust has a 52 week low of $10.35 and a 52 week high of $21.47.
NexPoint Residential Trust (NASDAQ:NXRT) last announced its quarterly earnings data on Tuesday, August 9th. The company reported $0.34 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.01. The company had revenue of $33.70 million for the quarter, compared to analysts’ expectations of $33.50 million. Equities analysts expect that NexPoint Residential Trust will post $1.44 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Thursday, September 15th were given a dividend of $0.206 per share. This represents a $0.82 dividend on an annualized basis and a yield of 4.39%. The ex-dividend date was Tuesday, September 13th.
In other NexPoint Residential Trust news, insider James D. Dondero bought 7,600 shares of the company’s stock in a transaction that occurred on Friday, September 9th. The stock was purchased at an average price of $19.74 per share, with a total value of $150,024.00. Following the transaction, the insider now owns 5,051 shares in the company, valued at $99,706.74. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Edward N. Constantino bought 4,815 shares of the company’s stock in a transaction that occurred on Monday, August 22nd. The shares were acquired at an average cost of $20.77 per share, with a total value of $100,007.55. Following the transaction, the director now owns 12,175 shares in the company, 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 position in NexPoint Residential Trust Inc (NASDAQ:NXRT) during the second quarter, according to its most recent 13F filing with the SEC. The firm 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.