Boenning & Scattergood Keeps a Hold Rating on NexPoint Residential Trust Inc (NXRT)
Boenning & Scattergood analyst Merrill Ross maintained a Hold rating on NexPoint Residential Trust Inc (NXRT) today. The company’s shares closed yesterday at $37.91, close to its 52-week high of $38.70.
“We believe that the market awards a premium valuation to REITs that can consistently grow NAV, and we think NAV will rise from our estimate of $31.85 at year-end 2018 to $38.50 at year- end 2019, based on annualized 4Q property net operating income. REITs that trade at a premium valuation are in a better position to create value for shareholders because they can issue equity to accretively buy assets. We maintain our Neutral rating solely on valuation; we believe the best time to buy the stock is on a discounted offering. We find the clear and long runway for continued NAV accretion through capital recycling and value-add renovation to be fundamentally appealing and would view any pullback as an opportunity for share accumulation.”
According to TipRanks.com, Ross is a 2-star analyst with an average return of 0.2% and a 53.9% success rate. Ross covers the Financial sector, focusing on stocks such as Essential Properties Realty Trust Inc, Pennsylvania Real Estate Investment, and Monmouth Real Estate Investment.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for NexPoint Residential Trust Inc with a $40.67 average price target.
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Based on NexPoint Residential Trust Inc’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $4.8 million. In comparison, last year the company had a GAAP net loss of $4.33 million.
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NexPoint Residential Trust, Inc. engages in the acquisition, management, and disposition of multifamily assets. It also focuses on providing lifestyle amenities and upgraded living spaces to low and moderate income renters in the Southeastern United States and Texas. The company was founded on September 19, 2014 and is headquartered in Dallas, TX.