State of New Jersey Common Pension Fund D Reduces Holdings in NexPoint Residential Trust, Inc. (NYSE:NXRT)

State of New Jersey Common Pension Fund D reduced its stake in NexPoint Residential Trust, Inc. (NYSE:NXRT) by 37.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 194,643 shares of the financial services provider’s stock after selling 114,084 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.76% of NexPoint Residential Trust worth $7,690,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of NXRT. Paralel Advisors LLC acquired a new position in NexPoint Residential Trust during the 4th quarter valued at approximately $1,139,000. Burford Brothers Inc. acquired a new position in shares of NexPoint Residential Trust in the 4th quarter valued at $855,000. TCW Group Inc. raised its stake in NexPoint Residential Trust by 24.4% in the 2nd quarter. TCW Group Inc. now owns 63,826 shares of the financial services provider’s stock worth $2,522,000 after acquiring an additional 12,509 shares during the last quarter. Pasadena Private Wealth LLC lifted its position in NexPoint Residential Trust by 26.1% during the 1st quarter. Pasadena Private Wealth LLC now owns 52,326 shares of the financial services provider’s stock worth $1,684,000 after acquiring an additional 10,837 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in NexPoint Residential Trust by 4.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 244,264 shares of the financial services provider’s stock valued at $9,651,000 after purchasing an additional 9,297 shares during the last quarter. 76.61% of the stock is currently owned by institutional investors and hedge funds.

NexPoint Residential Trust Stock Up 1.9 %

NexPoint Residential Trust stock opened at $45.90 on Friday. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of 16.22, a price-to-earnings-growth ratio of 1.36 and a beta of 1.38. NexPoint Residential Trust, Inc. has a 52 week low of $26.21 and a 52 week high of $48.37. The business’s 50-day moving average price is $43.74 and its 200 day moving average price is $37.53. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 2.96.

NexPoint Residential Trust (NYSE:NXRT) last posted its earnings results on Tuesday, July 30th. The financial services provider reported $0.40 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.29). The company had revenue of $64.24 million for the quarter, compared to analyst estimates of $64.99 million. NexPoint Residential Trust had a return on equity of 17.69% and a net margin of 32.93%. During the same period last year, the business earned $0.88 earnings per share. As a group, sell-side analysts anticipate that NexPoint Residential Trust, Inc. will post 2.82 earnings per share for the current year.

NexPoint Residential Trust Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be issued a $0.462 dividend. This represents a $1.85 annualized dividend and a yield of 4.03%. The ex-dividend date of this dividend is Friday, September 13th. NexPoint Residential Trust’s payout ratio is currently 65.37%.

Insider Buying and Selling at NexPoint Residential Trust

In other NexPoint Residential Trust news, insider Brian Mitts sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $39.40, for a total value of $78,800.00. Following the sale, the insider now directly owns 65,696 shares of the company’s stock, valued at $2,588,422.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 12.96% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

NXRT has been the subject of several research analyst reports. Compass Point raised their price objective on NexPoint Residential Trust from $45.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Raymond James upgraded NexPoint Residential Trust from an “underperform” rating to a “market perform” rating in a research note on Friday, May 24th. Deutsche Bank Aktiengesellschaft raised their price objective on NexPoint Residential Trust from $38.00 to $44.00 and gave the stock a “hold” rating in a research note on Tuesday, September 10th. JMP Securities raised their price objective on NexPoint Residential Trust from $40.00 to $50.00 and gave the stock a “market outperform” rating in a research note on Friday, August 2nd. Finally, Truist Financial raised their price objective on NexPoint Residential Trust from $37.00 to $46.00 and gave the stock a “hold” rating in a research note on Tuesday, August 27th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $46.20.

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.