Creative Planning Makes New $452,000 Investment in NexPoint Residential Trust, Inc. (NYSE:NXRT)

Creative Planning purchased a new stake in NexPoint Residential Trust, Inc. (NYSE:NXRT) in the 2nd quarter, Holdings Channel reports. The firm purchased 11,444 shares of the financial services provider’s stock, valued at approximately $452,000.

Other hedge funds have also added to or reduced their stakes in the company. Long Pond Capital LP bought a new position in NexPoint Residential Trust during the 2nd quarter worth about $24,273,000. Dimensional Fund Advisors LP grew its stake in shares of NexPoint Residential Trust by 7.6% in the second 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 in the last quarter. Renaissance Technologies LLC increased its stake 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 worth $6,389,000 after purchasing an additional 15,400 shares during the last quarter. Algert Global LLC grew its holdings in NexPoint Residential Trust by 17.2% during the second quarter. Algert Global LLC now owns 86,003 shares of the financial services provider’s stock worth $3,398,000 after purchasing an additional 12,627 shares during the period. Finally, TCW Group Inc. lifted its position in shares of NexPoint Residential Trust by 24.4% in the second quarter. TCW Group Inc. now owns 63,826 shares of the financial services provider’s stock valued at $2,522,000 after buying an additional 12,509 shares during the last quarter. Institutional investors and hedge funds own 76.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on NXRT. Truist Financial upped their price objective 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. JMP Securities boosted their target price on shares of NexPoint Residential Trust from $40.00 to $50.00 and gave the company a “market outperform” rating in a research report on Friday, August 2nd. Compass Point boosted their price objective on shares of NexPoint Residential Trust from $45.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of NexPoint Residential Trust from $38.00 to $44.00 and gave the stock a “hold” rating in a report on Tuesday, September 10th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, NexPoint Residential Trust presently has an average rating of “Hold” and an average price target of $46.20.

NexPoint Residential Trust Stock Performance

Shares of NYSE:NXRT opened at $43.48 on Wednesday. The company’s 50 day simple moving average is $44.67 and its 200 day simple moving average is $39.59. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of 15.36, a price-to-earnings-growth ratio of 1.27 and a beta of 1.37. NexPoint Residential Trust, Inc. has a 1 year low of $26.21 and a 1 year high of $48.37. The company has a debt-to-equity ratio of 2.96, a current ratio of 2.00 and a quick ratio of 2.00.

NexPoint Residential Trust (NYSE:NXRT) last issued its earnings results on Tuesday, July 30th. The financial services provider reported $0.40 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.29). The business had revenue of $64.24 million for the quarter, compared to analyst estimates of $64.99 million. NexPoint Residential Trust had a return on equity of 17.69% and a net margin of 32.93%. During the same period in the previous year, the firm posted $0.88 EPS. As a group, research analysts predict that NexPoint Residential Trust, Inc. will post 2.82 EPS for the current fiscal year.

NexPoint Residential Trust Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were issued a $0.462 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.85 dividend on an annualized basis and a yield of 4.25%. NexPoint Residential Trust’s payout ratio is presently 65.37%.

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.