NexPoint Residential Trust (NYSE:NXRT) Given New $44.00 Price Target at Raymond James

NexPoint Residential Trust (NYSE:NXRT) had its price target lowered by equities research analysts at Raymond James from $50.00 to $44.00 in a report released on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Raymond James’ price objective would indicate a potential upside of 13.40% from the stock’s current price.

Several other analysts have also recently issued reports on NXRT. StockNews.com cut NexPoint Residential Trust from a “hold” rating to a “sell” rating in a report on Saturday, March 1st. Jefferies Financial Group boosted their price target on shares of NexPoint Residential Trust from $41.00 to $43.00 and gave the stock a “hold” rating in a research note on Monday, March 10th. Finally, Truist Financial increased their price objective on NexPoint Residential Trust from $41.00 to $42.00 and gave the company a “hold” rating in a research note on Monday, March 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $46.33.

NexPoint Residential Trust Price Performance

Shares of NexPoint Residential Trust stock traded down $0.03 during trading hours on Thursday, reaching $38.80. The stock had a trading volume of 6,488 shares, compared to its average volume of 121,030. The stock’s 50 day moving average is $39.62 and its 200 day moving average is $42.64. NexPoint Residential Trust has a twelve month low of $29.48 and a twelve month high of $48.37. The firm has a market capitalization of $988.08 million, a PE ratio of 22.17, a PEG ratio of 2.34 and a beta of 1.43. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 3.25.

Institutional Trading of NexPoint Residential Trust

Hedge funds and other institutional investors have recently made changes to their positions in the company. Johnson Financial Group Inc. purchased a new stake in shares of NexPoint Residential Trust in the fourth quarter valued at about $35,000. Smartleaf Asset Management LLC raised its stake in NexPoint Residential Trust by 104.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 894 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 456 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in NexPoint Residential Trust during the 3rd quarter worth approximately $42,000. Quest Partners LLC boosted its holdings in shares of NexPoint Residential Trust by 104,800.0% in the third quarter. Quest Partners LLC now owns 1,049 shares of the financial services provider’s stock valued at $46,000 after acquiring an additional 1,048 shares in the last quarter. Finally, KBC Group NV increased its stake in shares of NexPoint Residential Trust by 60.7% during the third quarter. KBC Group NV now owns 1,424 shares of the financial services provider’s stock worth $63,000 after acquiring an additional 538 shares during the period. Institutional investors and hedge funds 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.