Long Pond Capital LP Makes New $24.27 Million Investment in NexPoint Residential Trust, Inc. (NYSE:NXRT)

Long Pond Capital LP acquired a new stake in NexPoint Residential Trust, Inc. (NYSE:NXRT) in the second quarter, Holdings Channel.com reports. The fund acquired 614,345 shares of the financial services provider’s stock, valued at approximately $24,273,000. NexPoint Residential Trust accounts for 1.3% of Long Pond Capital LP’s holdings, making the stock its 23rd largest holding.

A number of other institutional investors also recently bought and sold shares of the company. Van ECK Associates Corp increased its holdings in shares of NexPoint Residential Trust by 7.3% during the 2nd quarter. Van ECK Associates Corp now owns 3,473 shares of the financial services provider’s stock worth $137,000 after buying an additional 236 shares during the last quarter. Federated Hermes Inc. boosted its stake in NexPoint Residential Trust by 4.1% during the second quarter. Federated Hermes Inc. now owns 9,094 shares of the financial services provider’s stock worth $359,000 after buying an additional 359 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of NexPoint Residential Trust by 1.5% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 27,196 shares of the financial services provider’s stock valued at $875,000 after acquiring an additional 399 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its position in shares of NexPoint Residential Trust by 1.0% during the first quarter. CANADA LIFE ASSURANCE Co now owns 47,286 shares of the financial services provider’s stock valued at $1,521,000 after acquiring an additional 477 shares during the last quarter. Finally, Graybill Wealth Management LTD. raised its stake in shares of NexPoint Residential Trust by 0.7% in the 2nd quarter. Graybill Wealth Management LTD. now owns 67,986 shares of the financial services provider’s stock valued at $2,686,000 after acquiring an additional 505 shares during the period. 76.61% of the stock is owned by hedge funds and other institutional investors.

NexPoint Residential Trust Price Performance

Shares of NXRT opened at $43.77 on Friday. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of 15.47, a PEG ratio of 1.35 and a beta of 1.38. The firm’s fifty day simple moving average is $44.72 and its 200-day simple moving average is $38.45. NexPoint Residential Trust, Inc. has a twelve month low of $26.21 and a twelve month high of $48.37. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 2.96.

NexPoint Residential Trust (NYSE:NXRT) last posted its quarterly earnings results on Tuesday, July 30th. The financial services provider reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.29). The business had revenue of $64.24 million during the quarter, compared to analyst estimates 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 quarter in the prior year, the business earned $0.88 earnings per share. Equities analysts forecast that NexPoint Residential Trust, Inc. will post 2.82 EPS for the current fiscal year.

NexPoint Residential Trust Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be issued a $0.462 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 4.22%. The ex-dividend date of this dividend is Friday, September 13th. NexPoint Residential Trust’s dividend payout ratio (DPR) is 65.37%.

Analysts Set New Price Targets

NXRT has been the topic of a number of research reports. Truist Financial upped their price target 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. JMP Securities increased their target price 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. Deutsche Bank Aktiengesellschaft lifted their target price on NexPoint Residential Trust from $38.00 to $44.00 and gave the company a “hold” rating in a research report on Tuesday, September 10th. Finally, Compass Point increased their price target on shares of NexPoint Residential Trust from $45.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company 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.