StockNews.com Upgrades NexPoint Residential Trust (NYSE:NXRT) to “Hold”

NexPoint Residential Trust (NYSE:NXRT) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Tuesday.

Separately, Raymond James raised NexPoint Residential Trust from a “market perform” rating to an “outperform” rating and set a $50.00 target price on the stock in a report on Monday, October 21st. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, NexPoint Residential Trust has an average rating of “Moderate Buy” and a consensus price target of $49.00.

NexPoint Residential Trust Stock Up 1.0 %

Shares of NYSE:NXRT opened at $39.29 on Tuesday. The firm’s 50-day moving average is $43.85 and its two-hundred day moving average is $43.58. 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 has a 1 year low of $28.20 and a 1 year high of $48.37. The firm has a market capitalization of $998.12 million, a PE ratio of 22.45, a price-to-earnings-growth ratio of 2.69 and a beta of 1.42.

NexPoint Residential Trust (NYSE:NXRT) last released its earnings results on Tuesday, October 29th. The financial services provider reported ($0.35) EPS for the quarter, missing the consensus estimate of $0.66 by ($1.01). The company had revenue of $64.10 million for the quarter, compared to analyst estimates of $64.69 million. NexPoint Residential Trust had a return on equity of 9.54% and a net margin of 17.54%. During the same period in the previous year, the firm earned $0.76 earnings per share. Analysts predict that NexPoint Residential Trust will post 2.78 EPS for the current year.

Hedge Funds Weigh In On NexPoint Residential Trust

Several hedge funds have recently made changes to their positions in NXRT. Valley Wealth Managers Inc. purchased a new stake in shares of NexPoint Residential Trust in the 3rd quarter valued at about $27,000. Point72 DIFC Ltd acquired a new position in NexPoint Residential Trust during the second quarter worth approximately $32,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in NexPoint Residential Trust by 34.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 900 shares of the financial services provider’s stock valued at $39,000 after buying an additional 232 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of NexPoint Residential Trust in the third quarter valued at approximately $42,000. Finally, Quest Partners LLC grew its position in shares of NexPoint Residential Trust by 104,800.0% during the third quarter. Quest Partners LLC now owns 1,049 shares of the financial services provider’s stock worth $46,000 after acquiring an additional 1,048 shares during the last quarter. Hedge funds and other institutional investors own 76.61% of the company’s stock.

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.