NexPoint Residential Trust, Inc. (NYSE:NXRT – Get Free Report) stock reached a new 52-week high during trading on Friday. The stock traded as high as $43.72, and was last traded at $43.65, with volume of 32,462 shares. The stock previously closed at $42.58.

Wall Street analysts weigh in

NXRT has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft affirmed a “hold” rating and set a $38.00 price target on shares of NexPoint Residential Trust in a research note on Tuesday, June 11th. Truist Financial raised their price target on NexPoint Residential Trust from $34.00 to $37.00 and gave the stock a “hold” rating in a report on Monday, June 24th. Finally, Raymond James raised NexPoint Residential Trust from an “underperform” rating to a “market perform” rating in a report on Friday, May 24th. Five investment analysts have rated the stock with a hold rating and one has given the company a buy rating. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $37.75.

Check out our latest stock analysis on NXRT

NexPoint Residential Trust Price Development

The company has a market cap of $1.11 billion, a price to earnings ratio of 15.30, a PEG ratio of 1.28, and a beta of 1.35. The company has a fifty day moving average price of $38.51 and a two-hundred day moving average price of $34.15. The company has a debt to equity ratio of 2.90, a quick ratio of 2.66, and a current ratio of 2.66.

NexPoint Residential Trust increases dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were paid a dividend of $0.4624. This is a boost from NexPoint Residential Trust’s previous quarterly dividend of $0.46. The ex-dividend date for this dividend was Friday, June 14th. This represents an annualized dividend of $1.85 and a dividend yield of 4.27%. NexPoint Residential Trust’s dividend payout ratio (DPR) is currently 65.37%.

Insider activity

In related news, insider Brian Mitts sold 2,000 shares of the company’s stock in a transaction dated Friday, June 28. The shares were sold at an average price of $39.40, for a total value of $78,800.00. Following the completion of the sale, the insider now directly owns 65,696 shares of the company’s stock, valued at approximately $2,588,422.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available on the SEC website. 12.96% of the shares are held by corporate insiders.

Institutional investors weigh in on NexPoint Residential Trust

Several hedge funds have recently bought and sold shares of NXRT. SRS Capital Advisors Inc. increased its stake in NexPoint Residential Trust by 176.1% in the 4th quarter. SRS Capital Advisors Inc. now owns 903 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 576 shares in the last quarter. Van ECK Associates Corp increased its stake in NexPoint Residential Trust by 19.7% in the 4th quarter. Van ECK Associates Corp now owns 3,163 shares of the financial services provider’s stock worth $109,000 after purchasing an additional 520 shares in the last quarter. Quest Partners LLC acquired a new stake in NexPoint Residential Trust in the 4th quarter worth approximately $140,000. Price T Rowe Associates Inc. MD acquired a new stake in NexPoint Residential Trust in the first quarter worth approximately $212,000. Finally, Daiwa Securities Group Inc. increased its position in NexPoint Residential Trust by 8.9% during the first quarter. Daiwa Securities Group Inc. now owns 7,436 shares of the financial services provider worth $239,000 after acquiring an additional 610 shares during the last quarter. 76.61% of the shares are currently held by institutional investors and hedge funds.

Company Profile of NexPoint Residential Trust

(Get free report)

NexPoint Residential Trust is a publicly traded REIT, whose shares are listed on the New York Stock Exchange under the symbol “NXRT.” The Trust primarily focuses on acquiring, owning and operating well-located, middle-class, multifamily properties with value-add potential in major cities and suburban submarkets of major cities, primarily in the Southeastern and Southwestern United States.

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