Public Sector Pension Investment Board Reduces Stock Holdings in NexPoint Residential Trust, Inc. (NYSE:NXRT)

Public Sector Pension Investment Board lessened its stake in shares of NexPoint Residential Trust, Inc. (NYSE:NXRT) by 6.8% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 46,858 shares of the financial services provider’s stock after selling 3,400 shares during the period. Public Sector Pension Investment Board owned approximately 0.18% of NexPoint Residential Trust worth $2,062,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Valley Wealth Managers Inc. purchased a new stake in shares of NexPoint Residential Trust in the third quarter worth approximately $27,000. Point72 DIFC Ltd bought a new position in NexPoint Residential Trust in the 2nd quarter valued at $32,000. Mirae Asset Global Investments Co. Ltd. increased its stake in NexPoint Residential Trust by 34.7% in the third 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 lifted its position in shares of NexPoint Residential Trust by 238.4% during the second 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 last quarter. Finally, Meeder Asset Management Inc. purchased a new stake in shares of NexPoint Residential Trust during the third quarter valued at $42,000. 76.61% of the stock is currently owned by institutional investors.

NexPoint Residential Trust Stock Down 1.9 %

NexPoint Residential Trust stock opened at $46.02 on Friday. 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 firm has a market cap of $1.17 billion, a P/E ratio of 26.30, a P/E/G ratio of 2.80 and a beta of 1.40. The business has a fifty day moving average of $44.46 and a two-hundred day moving average of $42.57. NexPoint Residential Trust, Inc. has a twelve month low of $28.20 and a twelve month high of $48.37.

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). NexPoint Residential Trust had a return on equity of 9.54% and a net margin of 17.54%. The company had revenue of $64.10 million for the quarter, compared to analysts’ expectations of $64.69 million. During the same quarter last year, the company earned $0.76 earnings per share. On average, analysts forecast that NexPoint Residential Trust, Inc. will post 2.78 earnings per share 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 $0.51 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 4.43%. This is an increase from NexPoint Residential Trust’s previous quarterly dividend of $0.46. NexPoint Residential Trust’s payout ratio is presently 105.71%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on NXRT. Raymond James upgraded shares of NexPoint Residential Trust from a “market perform” rating to an “outperform” rating and set a $50.00 price objective for the company in a report on Monday, October 21st. StockNews.com downgraded shares of NexPoint Residential Trust from a “hold” rating to a “sell” rating in a research note on Wednesday. Truist Financial raised their price objective on NexPoint Residential Trust from $37.00 to $46.00 and gave the stock a “hold” rating in a report on Tuesday, August 27th. Finally, 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. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $46.83.

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.