State Street Corp Trims Position in NexPoint Residential Trust, Inc. (NYSE:NXRT)

State Street Corp trimmed its stake in NexPoint Residential Trust, Inc. (NYSE:NXRT) by 1.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,322,142 shares of the financial services provider’s stock after selling 23,882 shares during the period. State Street Corp owned about 0.05% of NexPoint Residential Trust worth $58,187,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. SG Americas Securities LLC grew its position in shares of NexPoint Residential Trust by 24.2% during the 2nd quarter. SG Americas Securities LLC now owns 9,919 shares of the financial services provider’s stock worth $392,000 after buying an additional 1,932 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of NexPoint Residential Trust by 5.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 11,169 shares of the financial services provider’s stock valued at $441,000 after purchasing an additional 528 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of NexPoint Residential Trust by 4.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 244,264 shares of the financial services provider’s stock worth $9,651,000 after purchasing an additional 9,297 shares during the period. Signaturefd LLC boosted its stake 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 valued at $41,000 after purchasing an additional 732 shares in the last quarter. Finally, Van ECK Associates Corp increased its holdings in NexPoint Residential Trust by 7.3% during the second quarter. Van ECK Associates Corp now owns 3,473 shares of the financial services provider’s stock valued at $137,000 after buying an additional 236 shares during the period. 76.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NXRT has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft increased 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. Truist Financial raised their price target on shares of NexPoint Residential Trust from $37.00 to $46.00 and gave the company a “hold” rating in a report on Tuesday, August 27th. Raymond James upgraded shares of NexPoint Residential Trust from a “market perform” rating to an “outperform” rating and set a $50.00 target price for the company in a research note on Monday, October 21st. Finally, StockNews.com upgraded NexPoint Residential Trust from a “sell” rating to a “hold” rating in a report on Thursday, December 12th. Four analysts have rated the stock with a hold rating and three have given 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 Trading Down 4.9 %

Shares of NexPoint Residential Trust stock opened at $42.47 on Thursday. The firm’s 50 day simple moving average is $44.88 and its two-hundred day simple moving average is $43.19. The firm has a market capitalization of $1.08 billion, a price-to-earnings ratio of 24.27, a PEG ratio of 2.69 and a beta of 1.40. NexPoint Residential Trust, Inc. has a 12-month low of $28.20 and a 12-month high of $48.37. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 3.25.

NexPoint Residential Trust (NYSE:NXRT) last released its earnings results on Tuesday, October 29th. The financial services provider reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($1.01). The firm had revenue of $64.10 million during the quarter, compared to analyst estimates 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 period in the previous year, the company earned $0.76 earnings per share. Analysts predict that NexPoint Residential Trust, Inc. will post 2.78 EPS for the current 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 paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 4.80%. This is a boost from NexPoint Residential Trust’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Friday, December 13th. 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.