Truist Financial Boosts NexPoint Residential Trust (NYSE:NXRT) Price Target to $42.00

NexPoint Residential Trust (NYSE:NXRT) had its target price hoisted by equities researchers at Truist Financial from $41.00 to $42.00 in a report released on Monday,Benzinga reports. The brokerage presently has a “hold” rating on the financial services provider’s stock. Truist Financial’s price objective indicates a potential upside of 2.44% from the company’s current price.

Separately, StockNews.com downgraded shares of NexPoint Residential Trust from a “hold” rating to a “sell” rating in a research note on Saturday, March 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $48.20.

NexPoint Residential Trust Trading Up 0.8 %

NYSE:NXRT traded up $0.34 on Monday, reaching $41.00. 2,281 shares of the company’s stock were exchanged, compared to its average volume of 106,562. NexPoint Residential Trust has a 52-week low of $29.01 and a 52-week high of $48.37. The business has a fifty day moving average of $39.85 and a 200-day moving average of $43.01. The firm has a market capitalization of $1.04 billion, a price-to-earnings ratio of 23.51, a price-to-earnings-growth ratio of 2.34 and a beta of 1.43. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 3.25.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in NXRT. Valley Wealth Managers Inc. purchased a new stake in shares of NexPoint Residential Trust during the 3rd quarter worth $27,000. Johnson Financial Group Inc. acquired a new position in shares of NexPoint Residential Trust during the 4th quarter worth about $35,000. Smartleaf Asset Management LLC boosted its holdings in NexPoint Residential Trust by 104.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 894 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 456 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in NexPoint Residential Trust in the third quarter valued at approximately $42,000. Finally, Quest Partners LLC raised its holdings in 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 purchasing an additional 1,048 shares in the last quarter. Institutional investors and hedge funds 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.