Janney Montgomery Scott initiated coverage on shares of NexPoint Residential Trust, Inc. (NYSE:NXRT) in a report issued on Friday, StockTargetPrices.com reports. The brokerage issued a neutral rating on the financial services provider’s stock.

NXRT has been the topic of several other research reports. Canaccord Genuity lifted their target price on NexPoint Residential Trust from $26.00 to $28.00 and gave the company a buy rating in a research note on Monday, May 15th. BidaskClub cut NexPoint Residential Trust from a hold rating to a sell rating in a research note on Friday, July 28th.

NexPoint Residential Trust (NYSE NXRT) opened at 23.69 on Friday. NexPoint Residential Trust has a one year low of $16.67 and a one year high of $26.10. The stock has a market capitalization of $498.51 million, a price-to-earnings ratio of 45.04 and a beta of 0.84. The stock’s 50 day moving average is $23.96 and its 200 day moving average is $24.42.

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The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be paid a $0.22 dividend. This is a boost from NexPoint Residential Trust’s previous quarterly dividend of $0.21. The ex-dividend date is Thursday, September 14th. This represents a $0.88 annualized dividend and a dividend yield of 3.71%. NexPoint Residential Trust’s payout ratio is presently 172.55%.

About NexPoint Residential Trust

NexPoint Residential Trust, Inc is an externally managed real estate investment trust (REIT). The Company’s investment objectives are to maximize the cash flow and value of properties owned, acquire properties with cash flow growth potential, provide quarterly cash distributions and achieve long-term capital appreciation for its stockholders through targeted management and a value-add program.

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