Thrivent Financial for Lutherans Reduces Stake in NexPoint Residential Trust, Inc. (NYSE:NXRT)

Thrivent Financial for Lutherans reduced its holdings in NexPoint Residential Trust, Inc. (NYSE:NXRT) by 8.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 17,356 shares of the financial services provider’s stock after selling 1,613 shares during the quarter. Thrivent Financial for Lutherans owned about 0.07% of NexPoint Residential Trust worth $764,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in NXRT. Valley Wealth Managers Inc. bought a new stake in NexPoint Residential Trust in the third quarter valued at $27,000. Point72 DIFC Ltd bought a new stake in shares of NexPoint Residential Trust during the 2nd quarter valued at about $32,000. Mirae Asset Global Investments Co. Ltd. increased its position in shares of NexPoint Residential Trust by 34.7% during the third 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. Signaturefd LLC raised its stake in NexPoint Residential Trust by 238.4% in the second quarter. Signaturefd LLC now owns 1,039 shares of the financial services provider’s stock worth $41,000 after buying an additional 732 shares in the last quarter. Finally, KBC Group NV lifted its holdings in NexPoint Residential Trust by 60.7% in the third quarter. KBC Group NV now owns 1,424 shares of the financial services provider’s stock worth $63,000 after buying an additional 538 shares during the period. 76.61% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on NXRT. Deutsche Bank Aktiengesellschaft upped their target price on NexPoint Residential Trust from $38.00 to $44.00 and gave the stock a “hold” rating in a report on Tuesday, September 10th. Truist Financial upped their price target on NexPoint Residential Trust from $37.00 to $46.00 and gave the stock a “hold” rating in a research note on Tuesday, August 27th. StockNews.com upgraded shares of NexPoint Residential Trust from a “sell” rating to a “hold” rating in a report on Tuesday, November 19th. Finally, Raymond James upgraded shares of NexPoint Residential Trust from a “market perform” rating to an “outperform” rating and set a $50.00 price target for the company in a research note on Monday, October 21st. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $46.83.

NexPoint Residential Trust Price Performance

Shares of NYSE:NXRT opened at $46.76 on Wednesday. The company has a market capitalization of $1.19 billion, a PE ratio of 26.72, a PEG ratio of 2.80 and a beta of 1.40. The business has a fifty day moving average price of $44.38 and a 200-day moving average price of $42.52. NexPoint Residential Trust, Inc. has a 1-year low of $28.20 and a 1-year high of $48.37. The company has a debt-to-equity ratio of 3.25, a current ratio of 1.79 and a quick ratio of 1.79.

NexPoint Residential Trust (NYSE:NXRT) last released 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). The firm had revenue of $64.10 million for the quarter, compared to the consensus estimate 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 quarter in the prior year, the business posted $0.76 earnings per share. As a group, equities analysts expect that NexPoint Residential Trust, Inc. will post 2.78 EPS for the current fiscal year.

NexPoint Residential Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be given a $0.51 dividend. The ex-dividend date is Friday, December 13th. This is a boost from NexPoint Residential Trust’s previous quarterly dividend of $0.46. This represents a $2.04 annualized dividend and a yield of 4.36%. NexPoint Residential Trust’s dividend payout ratio is 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.