NexPoint Residential Trust Inc (NXRT) Trading 1.4% Higher
Shares of NexPoint Residential Trust Inc (NASDAQ:NXRT) traded up 1.4% on Wednesday . The stock traded as high as $21.32 and last traded at $21.29, with a volume of 80,032 shares changing hands. The stock had previously closed at $20.99.
Several research firms have commented on NXRT. Zacks Investment Research upgraded shares of NexPoint Residential Trust from a “strong sell” rating to a “hold” rating in a research note on Thursday, June 30th. Canaccord Genuity initiated coverage on shares of NexPoint Residential Trust in a research note on Tuesday, June 28th. They issued a “buy” rating and a $20.00 price target for the company. Finally, DA Davidson reaffirmed a “buy” rating and set a $23.00 price objective on shares of NexPoint Residential Trust in a research report on Monday.
The firm’s 50 day moving average price is $19.58 and its 200 day moving average price is $15.14.
NexPoint Residential Trust (NASDAQ:NXRT) last posted its quarterly earnings results on Tuesday, August 9th. The company reported $0.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.01. The company had revenue of $33.70 million for the quarter, compared to analysts’ expectations of $33.50 million. Analysts predict that NexPoint Residential Trust Inc will post $1.41 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Thursday, September 15th will be paid a dividend of $0.206 per share. This represents a $0.82 dividend on an annualized basis and a yield of 3.93%. The ex-dividend date of this dividend is Tuesday, September 13th.
In related news, insider James D. Dondero purchased 7,800 shares of the business’s stock in a transaction on Thursday, August 11th. The shares were bought at an average price of $19.25 per share, with a total value of $150,150.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
NexPoint Residential Trust, Inc is an externally managed real estate investment trust (REIT). The Company is focused on multifamily investments primarily located in the Southeastern and Southwestern United States. All of the Company’s business operations are conducted through NexPoint Residential Trust Operating Partnership, L.P.
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