NexPoint Residential Trust (NXRT) Reaches New 52-Week High at $38.40

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NexPoint Residential Trust Inc (NYSE:NXRT)’s share price hit a new 52-week high during trading on Monday . The stock traded as high as $38.40 and last traded at $38.16, with a volume of 62784 shares trading hands. The stock had previously closed at $37.76.

NXRT has been the topic of several research reports. Zacks Investment Research upgraded NexPoint Residential Trust from a “sell” rating to a “hold” rating in a research note on Wednesday, January 16th. ValuEngine upgraded NexPoint Residential Trust from a “hold” rating to a “buy” rating in a research note on Monday, November 12th. Boenning Scattergood lowered NexPoint Residential Trust from an “outperform” rating to a “hold” rating in a research note on Tuesday, October 30th. B. Riley raised their price target on NexPoint Residential Trust from $34.00 to $37.00 and gave the company a “buy” rating in a research note on Monday, November 5th. Finally, Raymond James initiated coverage on NexPoint Residential Trust in a research note on Wednesday, February 6th. They set an “outperform” rating and a $41.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $37.40.

The company has a debt-to-equity ratio of 3.83, a current ratio of 0.98 and a quick ratio of 0.98. The company has a market cap of $887.35 million, a PE ratio of 32.62, a PEG ratio of 1.61 and a beta of 0.59.

In related news, insider James D. Dondero bought 207,972 shares of the business’s stock in a transaction on Friday, November 16th. The shares were bought at an average price of $33.00 per share, for a total transaction of $6,863,076.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 19.98% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. grew its stake in NexPoint Residential Trust by 8.5% in the fourth quarter. BlackRock Inc. now owns 1,421,768 shares of the financial services provider’s stock valued at $49,833,000 after purchasing an additional 111,613 shares during the last quarter. New York State Common Retirement Fund boosted its holdings in NexPoint Residential Trust by 469.3% in the fourth quarter. New York State Common Retirement Fund now owns 116,649 shares of the financial services provider’s stock worth $4,089,000 after acquiring an additional 96,158 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its holdings in NexPoint Residential Trust by 18.3% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 3,885 shares of the financial services provider’s stock worth $135,000 after acquiring an additional 600 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in NexPoint Residential Trust by 16,704.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 7,226 shares of the financial services provider’s stock worth $254,000 after acquiring an additional 7,183 shares in the last quarter. Finally, First Trust Advisors LP boosted its holdings in NexPoint Residential Trust by 32.8% in the fourth quarter. First Trust Advisors LP now owns 41,342 shares of the financial services provider’s stock worth $1,449,000 after acquiring an additional 10,211 shares in the last quarter. Institutional investors own 54.47% of the company’s stock.

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About NexPoint Residential Trust (NYSE:NXRT)

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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