Texas Permanent School Fund Corp Has $942,000 Position in NexPoint Residential Trust, Inc. (NYSE:NXRT)

Texas Permanent School Fund Corp boosted its stake in shares of NexPoint Residential Trust, Inc. (NYSE:NXRT) by 20.1% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 23,834 shares of the financial services provider’s stock after purchasing an additional 3,988 shares during the period. Texas Permanent School Fund Corp owned about 0.09% of NexPoint Residential Trust worth $942,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its stake in shares of NexPoint Residential Trust by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 302,269 shares of the financial services provider’s stock valued at $10,407,000 after buying an additional 8,959 shares during the period. BNP Paribas Financial Markets increased its stake in shares of NexPoint Residential Trust by 32.5% in the fourth quarter. BNP Paribas Financial Markets now owns 29,209 shares of the financial services provider’s stock worth $1,006,000 after acquiring an additional 7,165 shares during the last quarter. Jump Financial LLC raised its holdings in shares of NexPoint Residential Trust by 37.7% during the fourth quarter. Jump Financial LLC now owns 10,331 shares of the financial services provider’s stock worth $356,000 after acquiring an additional 2,831 shares in the last quarter. Quest Partners LLC acquired a new stake in NexPoint Residential Trust during the fourth quarter valued at $140,000. Finally, Paralel Advisors LLC purchased a new position in NexPoint Residential Trust in the fourth quarter valued at about $1,139,000. Institutional investors and hedge funds own 76.61% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on NXRT. JMP Securities raised their price target on NexPoint Residential Trust from $40.00 to $50.00 and gave the stock a “market outperform” rating in a research note on Friday, August 2nd. Raymond James raised shares of NexPoint Residential Trust from an “underperform” rating to a “market perform” rating in a research report on Friday, May 24th. Truist Financial boosted their target price on shares of NexPoint Residential Trust from $37.00 to $46.00 and gave the stock a “hold” rating in a research report on Tuesday, August 27th. Compass Point increased their price target on shares of NexPoint Residential Trust from $45.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, Deutsche Bank Aktiengesellschaft lifted 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 note on Tuesday, September 10th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $46.20.

Insider Transactions at NexPoint Residential Trust

In related news, insider Brian Mitts sold 2,000 shares of the business’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $39.40, for a total transaction of $78,800.00. Following the completion of the transaction, the insider now owns 65,696 shares of the company’s stock, valued at approximately $2,588,422.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 12.96% of the stock is currently owned by corporate insiders.

NexPoint Residential Trust Stock Down 2.0 %

NXRT opened at $44.86 on Friday. The firm has a market cap of $1.15 billion, a P/E ratio of 15.85, a price-to-earnings-growth ratio of 1.36 and a beta of 1.38. The company has a debt-to-equity ratio of 2.96, a quick ratio of 2.00 and a current ratio of 2.00. The business has a 50 day moving average price of $44.43 and a 200 day moving average price of $38.05. NexPoint Residential Trust, Inc. has a twelve month low of $26.21 and a twelve month high of $48.37.

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

NexPoint Residential Trust Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be given a $0.462 dividend. This represents a $1.85 annualized dividend and a dividend yield of 4.12%. The ex-dividend date of this dividend is Friday, September 13th. NexPoint Residential Trust’s dividend payout ratio is currently 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.