State of Alaska Department of Revenue Sells 888 Shares of NexPoint Residential Trust, Inc. (NYSE:NXRT)

State of Alaska Department of Revenue trimmed its position in shares of NexPoint Residential Trust, Inc. (NYSE:NXRT) by 3.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,419 shares of the financial services provider’s stock after selling 888 shares during the quarter. State of Alaska Department of Revenue owned 0.09% of NexPoint Residential Trust worth $1,030,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Point72 DIFC Ltd bought a new position in shares of NexPoint Residential Trust during the 2nd quarter valued at $32,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in NexPoint Residential Trust by 34.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 900 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 232 shares during the period. Signaturefd LLC raised its holdings in 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 purchasing an additional 732 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in NexPoint Residential Trust by 40.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,107 shares of the financial services provider’s stock worth $123,000 after purchasing an additional 900 shares during the period. Finally, Van ECK Associates Corp raised its holdings in NexPoint Residential Trust by 7.3% in the 2nd quarter. Van ECK Associates Corp now owns 3,473 shares of the financial services provider’s stock worth $137,000 after purchasing an additional 236 shares during the period. 76.61% of the stock is owned by institutional investors.

Analysts Set New Price Targets

NXRT has been the topic of a number of recent research reports. Truist Financial raised their target price on NexPoint Residential Trust from $37.00 to $46.00 and gave the stock a “hold” rating in a report on Tuesday, August 27th. Raymond James raised NexPoint Residential Trust from a “market perform” rating to an “outperform” rating and set a $50.00 target price on the stock in a report on Monday, October 21st. Deutsche Bank Aktiengesellschaft raised their target price on NexPoint Residential Trust from $38.00 to $44.00 and gave the stock a “hold” rating in a report on Tuesday, September 10th. Compass Point increased their price target 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. Finally, JMP Securities increased their price target 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. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, NexPoint Residential Trust has an average rating of “Hold” and an average target price of $46.83.

NexPoint Residential Trust Trading Up 1.1 %

Shares of NXRT stock opened at $41.19 on Tuesday. NexPoint Residential Trust, Inc. has a 52-week low of $28.20 and a 52-week high of $48.37. The company has a debt-to-equity ratio of 3.25, a quick ratio of 2.00 and a current ratio of 1.79. The firm has a market capitalization of $1.05 billion, a PE ratio of 23.54, a PEG ratio of 1.25 and a beta of 1.37. The stock has a fifty day simple moving average of $44.37 and a two-hundred day simple moving average of $40.83.

NexPoint Residential Trust (NYSE:NXRT) last issued its quarterly earnings data on Tuesday, October 29th. The financial services provider reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($1.01). The firm had revenue of $64.10 million for the quarter, compared to analysts’ expectations of $64.69 million. NexPoint Residential Trust had a net margin of 17.54% and a return on equity of 9.54%. During the same quarter in the previous year, the business earned $0.76 EPS. On average, analysts predict that NexPoint Residential Trust, Inc. will post 2.82 EPS for the current fiscal year.

NexPoint Residential Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be given a dividend of $0.51 per share. This is a positive change from NexPoint Residential Trust’s previous quarterly dividend of $0.46. The ex-dividend date is Friday, December 13th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 4.95%. NexPoint Residential Trust’s dividend payout ratio (DPR) is presently 105.71%.

About NexPoint Residential Trust

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.