NexPoint Residential Trust, Inc. (NYSE:NXRT) Shares Acquired by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company boosted its position in NexPoint Residential Trust, Inc. (NYSE:NXRT) by 30.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,223 shares of the financial services provider’s stock after purchasing an additional 2,831 shares during the period. The Manufacturers Life Insurance Company’s holdings in NexPoint Residential Trust were worth $538,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Long Pond Capital LP acquired a new stake in shares of NexPoint Residential Trust during the 2nd quarter worth about $24,273,000. Dimensional Fund Advisors LP boosted its holdings in 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 purchasing an additional 23,888 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in NexPoint Residential Trust by 2.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 332,680 shares of the financial services provider’s stock valued at $14,641,000 after acquiring an additional 8,795 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of NexPoint Residential Trust by 4.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 244,264 shares of the financial services provider’s stock valued at $9,651,000 after acquiring an additional 9,297 shares in the last quarter. Finally, BOKF NA raised its stake in NexPoint Residential Trust by 0.4% during the second quarter. BOKF NA now owns 177,320 shares of the financial services provider’s stock worth $7,006,000 after acquiring an additional 741 shares during the period. 76.61% of the stock is owned by institutional investors and hedge funds.

NexPoint Residential Trust Price Performance

NXRT stock opened at $44.88 on Friday. The company has a fifty day moving average price of $44.77 and a 200-day moving average price of $43.01. NexPoint Residential Trust, Inc. has a 52-week low of $28.20 and a 52-week high of $48.37. The company has a debt-to-equity ratio of 3.25, a quick ratio of 1.79 and a current ratio of 1.79. The company has a market capitalization of $1.14 billion, a P/E ratio of 25.65, a PEG ratio of 2.75 and a beta of 1.40.

NexPoint Residential Trust (NYSE:NXRT) last issued its quarterly earnings results on Tuesday, October 29th. The financial services provider reported ($0.35) EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($1.01). NexPoint Residential Trust had a net margin of 17.54% and a return on equity of 9.54%. The business had revenue of $64.10 million for the quarter, compared to analysts’ expectations of $64.69 million. During the same period in the previous 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 year.

NexPoint Residential Trust Increases Dividend

The company 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 dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 4.55%. This is an increase from NexPoint Residential Trust’s previous quarterly dividend of $0.46. The ex-dividend date is Friday, December 13th. NexPoint Residential Trust’s dividend payout ratio is 105.71%.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. StockNews.com upgraded shares of NexPoint Residential Trust from a “sell” rating to a “hold” rating in a research report on Thursday. Truist Financial boosted their target price on NexPoint Residential Trust from $37.00 to $46.00 and gave the stock a “hold” rating in a research report on Tuesday, August 27th. Raymond James upgraded NexPoint Residential Trust from a “market perform” rating to an “outperform” rating and set a $50.00 target price for the company in a report on Monday, October 21st. Finally, Deutsche Bank Aktiengesellschaft boosted 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 report on Tuesday, September 10th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, NexPoint Residential Trust has an average rating of “Hold” and a consensus target price 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.