Principal Financial Group Inc. Decreases Position in NexPoint Residential Trust, Inc. (NYSE:NXRT)

Principal Financial Group Inc. decreased its position in shares of NexPoint Residential Trust, Inc. (NYSE:NXRT) by 7.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 113,156 shares of the financial services provider’s stock after selling 9,219 shares during the quarter. Principal Financial Group Inc.’s holdings in NexPoint Residential Trust were worth $4,980,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in NXRT. Van ECK Associates Corp lifted its position in NexPoint Residential Trust by 12.3% during the third quarter. Van ECK Associates Corp now owns 3,901 shares of the financial services provider’s stock valued at $173,000 after purchasing an additional 428 shares during the period. abrdn plc purchased a new stake in NexPoint Residential Trust during the 3rd quarter valued at $204,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of NexPoint Residential Trust by 34.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 900 shares of the financial services provider’s stock valued at $39,000 after buying an additional 232 shares during the period. Narwhal Capital Management boosted its stake in shares of NexPoint Residential Trust by 8.3% in the 3rd quarter. Narwhal Capital Management now owns 62,089 shares of the financial services provider’s stock worth $2,733,000 after buying an additional 4,738 shares during the last quarter. Finally, Graybill Wealth Management LTD. boosted its stake in shares of NexPoint Residential Trust by 1.1% in the 3rd quarter. Graybill Wealth Management LTD. now owns 68,714 shares of the financial services provider’s stock worth $3,024,000 after buying an additional 728 shares during the last quarter. Institutional investors own 76.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on NXRT shares. Truist Financial increased their target price on NexPoint Residential Trust from $37.00 to $46.00 and gave the company a “hold” rating in a report on Tuesday, August 27th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of NexPoint Residential Trust from $38.00 to $44.00 and gave the company a “hold” rating in a research report on Tuesday, September 10th. Compass Point raised their target price on NexPoint Residential Trust from $45.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. JMP Securities boosted their price target on NexPoint Residential Trust from $40.00 to $50.00 and gave the company a “market outperform” rating in a report on Friday, August 2nd. Finally, StockNews.com raised NexPoint Residential Trust from a “sell” rating to a “hold” rating in a research note on Tuesday. Four 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.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $46.83.

NexPoint Residential Trust Stock Performance

NYSE NXRT opened at $45.77 on Thursday. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 3.25. NexPoint Residential Trust, Inc. has a twelve month low of $28.20 and a twelve month high of $48.37. The business has a 50-day moving average price of $44.12 and a 200-day moving average price of $41.74. The firm has a market cap of $1.16 billion, a price-to-earnings ratio of 26.34, a price-to-earnings-growth ratio of 1.52 and a beta of 1.37.

NexPoint Residential Trust (NYSE:NXRT) last posted its quarterly earnings results on Tuesday, October 29th. The financial services provider reported ($0.35) earnings per share for the quarter, missing the consensus estimate of $0.66 by ($1.01). NexPoint Residential Trust had a return on equity of 9.54% and a net margin of 17.54%. The business had revenue of $64.10 million during the quarter, compared to the consensus estimate of $64.69 million. During the same quarter in the previous year, the company earned $0.76 earnings per share. As a group, equities research analysts predict that NexPoint Residential Trust, Inc. will post 2.78 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. Shareholders of record on Friday, December 13th will be paid a $0.51 dividend. This is an increase 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 yield of 4.46%. NexPoint Residential Trust’s payout ratio is presently 105.71%.

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.