NexPoint Residential Trust (NYSE:NXRT) Shares Gap Up Following Better-Than-Expected Earnings

NexPoint Residential Trust, Inc. (NYSE:NXRT) gapped up before the market opened on Tuesday following a stronger than expected earnings report. 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 analysts’ consensus estimates of $0.78 by $0.06. NexPoint Residential Trust had a net margin of 17.54% and a return on equity of 9.54%.

NexPoint Residential Trust Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research analysts have commented on NXRT shares. Jefferies Financial Group increased their price objective on NexPoint Residential Trust from $41.00 to $43.00 and gave the company a “hold” rating in a research report on Monday, March 10th. Truist Financial lifted their price objective 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. StockNews.com downgraded shares of NexPoint Residential Trust from a “hold” rating to a “sell” rating in a research report on Saturday, March 1st. Finally, Raymond James lowered their price target on shares of NexPoint Residential Trust from $50.00 to $44.00 and set an “outperform” rating for the company in a research report on Thursday, March 20th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $46.33.

Insider Transactions at NexPoint Residential Trust

In other NexPoint Residential Trust news, insider Paul Richards acquired 5,814 shares of the company’s stock in a transaction on Monday, April 7th. The shares were purchased at an average cost of $33.24 per share, with a total value of $193,257.36. Following the completion of the purchase, the insider now owns 18,493 shares of the company’s stock, valued at approximately $614,707.32. This represents a 45.86 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 15.36% of the company’s stock.

Institutional Trading of NexPoint Residential Trust

A number of institutional investors and hedge funds have recently modified their holdings of NXRT. Tidal Investments LLC purchased a new stake in NexPoint Residential Trust in the 3rd quarter worth about $1,166,000. Franklin Resources Inc. increased its stake in shares of NexPoint Residential Trust by 164.0% in the third quarter. Franklin Resources Inc. now owns 34,865 shares of the financial services provider’s stock worth $1,506,000 after purchasing an additional 21,660 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of NexPoint Residential Trust by 16.7% in the third 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 period. SG Americas Securities LLC lifted its stake in shares of NexPoint Residential Trust by 3.7% during the 4th quarter. SG Americas Securities LLC now owns 16,249 shares of the financial services provider’s stock valued at $678,000 after buying an additional 579 shares in the last quarter. Finally, Copeland Capital Management LLC boosted its holdings in NexPoint Residential Trust by 0.9% in the 4th quarter. Copeland Capital Management LLC now owns 909,758 shares of the financial services provider’s stock worth $37,982,000 after buying an additional 8,072 shares during the period. 76.61% of the stock is owned by hedge funds and other institutional investors.

NexPoint Residential Trust Price Performance

The business’s 50 day moving average is $38.07 and its two-hundred day moving average is $40.99. The company has a debt-to-equity ratio of 3.25, a quick ratio of 1.79 and a current ratio of 1.79. The firm has a market capitalization of $969.40 million, a PE ratio of 21.70, a price-to-earnings-growth ratio of 2.34 and a beta of 1.18.

NexPoint Residential Trust Company Profile

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.