NexPoint Residential Trust (NYSE:NXRT) Cut to Market Perform at Citizens Jmp

NexPoint Residential Trust (NYSE:NXRT) was downgraded by equities research analysts at Citizens Jmp from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Monday,Finviz reports.

Several other equities analysts have also recently weighed in on NXRT. Raymond James cut NexPoint Residential Trust from an “outperform” rating to a “market perform” rating in a research note on Thursday. Jefferies Financial Group lifted their target price on NexPoint Residential Trust from $41.00 to $43.00 and gave the company a “hold” rating in a research note on Monday, March 10th. JMP Securities reaffirmed a “market perform” rating on shares of NexPoint Residential Trust in a research note on Monday. Compass Point reaffirmed a “neutral” rating and set a $42.50 target price (down previously from $50.00) on shares of NexPoint Residential Trust in a research note on Tuesday, May 13th. Finally, StockNews.com cut NexPoint Residential Trust from a “hold” rating to a “sell” rating in a research note on Saturday, March 1st. One investment analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $44.25.

NexPoint Residential Trust Stock Performance

NexPoint Residential Trust stock opened at $36.96 on Monday. The firm’s 50 day simple moving average is $37.14 and its 200-day simple moving average is $40.37. The company has a market cap of $934.48 million, a P/E ratio of 21.12, a price-to-earnings-growth ratio of 2.34 and a beta of 1.14. 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 fifty-two week low of $30.98 and a fifty-two week high of $48.37.

NexPoint Residential Trust (NYSE:NXRT) last released its earnings results on Tuesday, April 29th. The financial services provider reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.06. NexPoint Residential Trust had a return on equity of 9.54% and a net margin of 17.54%. The company had revenue of $63.22 million for the quarter, compared to analysts’ expectations of $63.29 million. As a group, equities research analysts predict that NexPoint Residential Trust will post 2.86 EPS for the current year.

Insider Transactions at NexPoint Residential Trust

In other news, insider Paul Richards acquired 5,814 shares of NexPoint Residential Trust stock in a transaction dated Monday, April 7th. The stock was acquired at an average cost of $33.24 per share, for a total transaction of $193,257.36. Following the completion of the purchase, the insider now owns 18,493 shares of the company’s stock, valued at $614,707.32. This represents a 45.86% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 15.36% of the stock is owned by corporate insiders.

Institutional Trading of NexPoint Residential Trust

A number of institutional investors and hedge funds have recently modified their holdings of the company. Millennium Management LLC lifted its stake in shares of NexPoint Residential Trust by 15.6% in the first quarter. Millennium Management LLC now owns 328,683 shares of the financial services provider’s stock worth $12,993,000 after buying an additional 44,391 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of NexPoint Residential Trust by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,281 shares of the financial services provider’s stock worth $525,000 after buying an additional 573 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in shares of NexPoint Residential Trust in the first quarter worth $341,000. Focus Partners Advisor Solutions LLC acquired a new stake in shares of NexPoint Residential Trust in the first quarter worth $285,000. Finally, Royal Bank of Canada lifted its stake in shares of NexPoint Residential Trust by 5.7% in the first quarter. Royal Bank of Canada now owns 54,612 shares of the financial services provider’s stock worth $2,159,000 after buying an additional 2,942 shares during the last quarter. 76.61% of the stock is currently owned by institutional investors and hedge funds.

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.