Renaissance Technologies LLC Raises Stock Holdings in NexPoint Residential Trust, Inc. (NYSE:NXRT)

Renaissance Technologies LLC boosted its stake in NexPoint Residential Trust, Inc. (NYSE:NXRT) by 10.5% during the second quarter, HoldingsChannel reports. The firm owned 161,713 shares of the financial services provider’s stock after buying an additional 15,400 shares during the period. Renaissance Technologies LLC’s holdings in NexPoint Residential Trust were worth $6,389,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Signaturefd LLC increased its holdings in shares of NexPoint Residential Trust by 238.4% in the 2nd quarter. Signaturefd LLC now owns 1,039 shares of the financial services provider’s stock worth $41,000 after buying an additional 732 shares during the last quarter. Van ECK Associates Corp increased its stake in NexPoint Residential Trust by 7.3% in the second quarter. Van ECK Associates Corp now owns 3,473 shares of the financial services provider’s stock valued at $137,000 after acquiring an additional 236 shares during the last quarter. Quest Partners LLC bought a new stake in NexPoint Residential Trust during the fourth quarter worth about $140,000. Price T Rowe Associates Inc. MD bought a new stake in NexPoint Residential Trust during the first quarter worth about $212,000. Finally, Daiwa Securities Group Inc. boosted its holdings in shares of NexPoint Residential Trust by 8.9% in the 1st quarter. Daiwa Securities Group Inc. now owns 7,436 shares of the financial services provider’s stock worth $239,000 after purchasing an additional 610 shares in the last quarter. 76.61% of the stock is currently owned by institutional investors.

NexPoint Residential Trust Trading Down 1.1 %

NYSE:NXRT opened at $44.92 on Thursday. The firm has a market capitalization of $1.14 billion, a P/E ratio of 15.87, a P/E/G ratio of 1.35 and a beta of 1.38. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 2.96. The company has a fifty day moving average of $44.67 and a 200 day moving average of $38.41. NexPoint Residential Trust, Inc. has a 52 week low of $26.21 and a 52 week high of $48.37.

NexPoint Residential Trust (NYSE:NXRT) last issued its quarterly earnings data 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 firm had revenue of $64.24 million for the quarter, compared to the consensus estimate of $64.99 million. NexPoint Residential Trust had a net margin of 32.93% and a return on equity of 17.69%. During the same period last year, the company posted $0.88 earnings per share. On average, research analysts predict 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. Stockholders of record on Friday, September 13th will be given a $0.462 dividend. The ex-dividend date is Friday, September 13th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 4.11%. NexPoint Residential Trust’s dividend payout ratio is currently 65.37%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on NXRT shares. Compass Point boosted their target price on NexPoint Residential Trust from $45.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. JMP Securities boosted their price objective on shares of NexPoint Residential Trust from $40.00 to $50.00 and gave the stock a “market outperform” rating in a report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft increased their target price on shares of NexPoint Residential Trust from $38.00 to $44.00 and gave the company a “hold” rating in a report on Tuesday, September 10th. Finally, Truist Financial boosted their price target on shares of 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 research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $46.20.

Insider Activity

In other NexPoint Residential Trust news, insider Brian Mitts sold 2,000 shares of the business’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $39.40, for a total transaction of $78,800.00. Following the transaction, 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 legal filing with the SEC, which can be accessed through the SEC website. Insiders own 12.96% of the company’s stock.

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.