New York State Teachers Retirement System Has $1.64 Million Stock Position in NexPoint Residential Trust, Inc. (NYSE:NXRT)

New York State Teachers Retirement System cut its holdings in shares of NexPoint Residential Trust, Inc. (NYSE:NXRT) by 8.8% in the third quarter, HoldingsChannel reports. The fund owned 37,147 shares of the financial services provider’s stock after selling 3,600 shares during the quarter. New York State Teachers Retirement System’s holdings in NexPoint Residential Trust were worth $1,635,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of NXRT. Long Pond Capital LP purchased a new stake in shares of NexPoint Residential Trust in the second quarter worth approximately $24,273,000. Dimensional Fund Advisors LP boosted its stake in shares of NexPoint Residential Trust by 7.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 339,138 shares of the financial services provider’s stock valued at $13,399,000 after buying an additional 23,888 shares during the period. Renaissance Technologies LLC grew its holdings in shares of NexPoint Residential Trust by 10.5% during the 2nd quarter. Renaissance Technologies LLC now owns 161,713 shares of the financial services provider’s stock valued at $6,389,000 after acquiring an additional 15,400 shares in the last quarter. Algert Global LLC increased its stake in shares of NexPoint Residential Trust by 17.2% in the second quarter. Algert Global LLC now owns 86,003 shares of the financial services provider’s stock worth $3,398,000 after acquiring an additional 12,627 shares during the last quarter. Finally, TCW Group Inc. raised its holdings in shares of NexPoint Residential Trust by 24.4% during the second 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 in the last quarter. Hedge funds and other institutional investors own 76.61% of the company’s stock.

NexPoint Residential Trust Stock Up 3.4 %

Shares of NexPoint Residential Trust stock opened at $46.04 on Friday. NexPoint Residential Trust, Inc. has a 12-month low of $28.20 and a 12-month high of $48.37. The stock has a market capitalization of $1.17 billion, a P/E ratio of 26.31, a PEG ratio of 1.33 and a beta of 1.37. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 3.25. The stock has a 50 day moving average price of $44.14 and a two-hundred day moving average price of $41.04.

NexPoint Residential Trust (NYSE:NXRT) last released its earnings results 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 analyst estimates of $64.69 million. NexPoint Residential Trust had a return on equity of 9.54% and a net margin of 17.54%. During the same period in the prior year, the firm earned $0.76 EPS. Equities analysts expect that NexPoint Residential Trust, Inc. will post 2.78 earnings per share for the current year.

NexPoint Residential Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be given a $0.51 dividend. This is an increase from NexPoint Residential Trust’s previous quarterly dividend of $0.46. This represents a $2.04 annualized dividend and a yield of 4.43%. The ex-dividend date of this dividend is Friday, December 13th. NexPoint Residential Trust’s payout ratio is currently 105.71%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Deutsche Bank Aktiengesellschaft boosted their target price on NexPoint Residential Trust from $38.00 to $44.00 and gave the company a “hold” rating in a research note on Tuesday, September 10th. Compass Point boosted their price target on NexPoint Residential Trust from $45.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Raymond James raised shares of NexPoint Residential Trust from a “market perform” rating to an “outperform” rating and set a $50.00 price objective on the stock in a research report on Monday, October 21st. JMP Securities boosted their target price on shares of NexPoint Residential Trust from $40.00 to $50.00 and gave the stock a “market outperform” rating in a research report on Friday, August 2nd. Finally, Truist Financial increased 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. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $46.83.

NexPoint Residential Trust 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.