NexPoint Residential Trust Inc (NXRT) Stock Price Up 0.8%
NexPoint Residential Trust Inc (NASDAQ:NXRT) rose 0.8% during mid-day trading on Wednesday . The stock traded as high as $20.97 and last traded at $20.86, with a volume of 52,261 shares changing hands. The stock had previously closed at $20.70.
NXRT has been the subject of several research reports. DA Davidson reaffirmed a “buy” rating and set a $23.00 price target on shares of NexPoint Residential Trust in a report on Monday, August 15th. Zacks Investment Research raised NexPoint Residential Trust from a “strong sell” rating to a “hold” rating in a report on Thursday, June 30th. Finally, Canaccord Genuity initiated coverage on NexPoint Residential Trust in a report on Tuesday, June 28th. They set a “buy” rating and a $20.00 price target for the company.
The stock’s 50 day moving average is $19.89 and its 200 day moving average is $15.75.
NexPoint Residential Trust (NASDAQ:NXRT) last issued its 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 business earned $33.70 million during the quarter, compared to the consensus estimate of $33.50 million. On average, equities research analysts expect that NexPoint Residential Trust Inc will post $1.41 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Thursday, September 15th will be issued a dividend of $0.206 per share. The ex-dividend date is Tuesday, September 13th. This represents a $0.82 annualized dividend and a dividend yield of 3.94%.
In other news, insider James D. Dondero acquired 7,800 shares of the firm’s stock in a transaction dated Thursday, August 11th. The stock was purchased at an average price of $19.25 per share, for a total transaction of $150,150.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Edward N. Constantino acquired 4,815 shares of the firm’s stock in a transaction dated Monday, August 22nd. The shares were purchased at an average price of $20.77 per share, with a total value of $100,007.55. Following the acquisition, the director now owns 12,175 shares of the company’s stock, valued at $252,874.75. The disclosure for this purchase can be found here.
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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