Brokerages Set NexPoint Residential Trust, Inc. (NYSE:NXRT) PT at $49.00

Shares of NexPoint Residential Trust, Inc. (NYSE:NXRT) have received an average recommendation of “Moderate Buy” from the five research firms that are currently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $49.00.

Several equities research analysts have recently commented on NXRT shares. StockNews.com lowered shares of NexPoint Residential Trust from a “hold” rating to a “sell” rating in a research report on Thursday. Raymond James raised shares of NexPoint Residential Trust from a “market perform” rating to an “outperform” rating and set a $50.00 target price for the company in a report on Monday, October 21st.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in NXRT. The Manufacturers Life Insurance Company raised its stake in NexPoint Residential Trust by 9.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,392 shares of the financial services provider’s stock worth $371,000 after acquiring an additional 826 shares during the period. Creative Planning purchased a new stake in shares of NexPoint Residential Trust in the second quarter worth $452,000. Northwestern Mutual Wealth Management Co. raised its position in shares of NexPoint Residential Trust by 40.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,107 shares of the financial services provider’s stock valued at $123,000 after purchasing an additional 900 shares during the period. Cubist Systematic Strategies LLC lifted its stake in shares of NexPoint Residential Trust by 50.1% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 13,812 shares of the financial services provider’s stock valued at $546,000 after buying an additional 4,608 shares in the last quarter. Finally, SG Americas Securities LLC boosted its holdings in NexPoint Residential Trust by 58.0% in the 3rd quarter. SG Americas Securities LLC now owns 15,670 shares of the financial services provider’s stock worth $690,000 after buying an additional 5,751 shares during the period. 76.61% of the stock is currently owned by institutional investors.

NexPoint Residential Trust Stock Down 2.1 %

NexPoint Residential Trust stock opened at $39.77 on Thursday. NexPoint Residential Trust has a one year low of $28.20 and a one year high of $48.37. The stock has a fifty day moving average of $41.06 and a 200 day moving average of $43.44. The company has a debt-to-equity ratio of 3.25, a quick ratio of 1.79 and a current ratio of 1.79. The stock has a market cap of $1.01 billion, a PE ratio of 22.73, a price-to-earnings-growth ratio of 2.40 and a beta of 1.42.

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.