NexPoint Residential Trust (NYSE:NXRT) Shares Gap Up on Earnings Beat

NexPoint Residential Trust, Inc. (NYSE:NXRT)’s stock price gapped up prior to trading on Tuesday following a better than expected earnings announcement. The stock had previously closed at $36.64, but opened at $38.06. NexPoint Residential Trust shares last traded at $37.71, with a volume of 3,580 shares trading hands.

The financial services provider reported $0.84 EPS 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%.

NexPoint Residential Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 5.37%. NexPoint Residential Trust’s payout ratio is currently -20,400.00%.

Analysts Set New Price Targets

NXRT has been the topic of several recent research reports. StockNews.com downgraded NexPoint Residential Trust from a “hold” rating to a “sell” rating in a research report on Saturday, March 1st. Raymond James reduced their price objective on shares of NexPoint Residential Trust from $50.00 to $44.00 and set an “outperform” rating on the stock in a research note on Thursday, March 20th. Jefferies Financial Group boosted their price target on NexPoint Residential Trust from $41.00 to $43.00 and gave the company a “hold” rating in a report on Monday, March 10th. Finally, Truist Financial increased their target price on NexPoint Residential Trust from $41.00 to $42.00 and gave the stock a “hold” rating in a research report on Monday, March 10th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $46.33.

Insider Activity at NexPoint Residential Trust

In related news, insider Paul Richards purchased 5,814 shares of the company’s stock in a transaction that occurred on Monday, April 7th. The shares were purchased at an average price of $33.24 per share, with a total value of $193,257.36. Following the purchase, the insider now owns 18,493 shares of the company’s stock, valued at $614,707.32. This trade represents a 45.86 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 15.36% of the company’s stock.

Hedge Funds Weigh In On NexPoint Residential Trust

A number of large investors have recently made changes to their positions in NXRT. Proficio Capital Partners LLC acquired a new stake in shares of NexPoint Residential Trust during the 4th quarter valued at about $458,000. Franklin Resources Inc. raised its holdings in shares of NexPoint Residential Trust by 164.0% during the 3rd quarter. Franklin Resources Inc. now owns 34,865 shares of the financial services provider’s stock valued at $1,506,000 after purchasing an additional 21,660 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of NexPoint Residential Trust by 16.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 117,090 shares of the financial services provider’s stock valued at $5,153,000 after purchasing an additional 16,746 shares during the last quarter. Teacher Retirement System of Texas boosted its holdings in NexPoint Residential Trust by 226.0% in the fourth quarter. Teacher Retirement System of Texas now owns 22,249 shares of the financial services provider’s stock worth $929,000 after purchasing an additional 15,425 shares in the last quarter. Finally, Versor Investments LP bought a new position in NexPoint Residential Trust during the fourth quarter valued at about $288,000. Institutional investors and hedge funds own 76.61% of the company’s stock.

NexPoint Residential Trust Stock Up 3.6 %

The company has a market cap of $969.40 million, a price-to-earnings ratio of 21.70, a PEG ratio of 2.34 and a beta of 1.18. The business has a 50-day simple moving average of $38.07 and a two-hundred day simple moving average of $40.99. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 3.25.

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.