Principal Financial Group Inc. Has $4.98 Million Stake in NexPoint Residential Trust, Inc. (NYSE:NXRT)

Principal Financial Group Inc. reduced its position in NexPoint Residential Trust, Inc. (NYSE:NXRT) by 7.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 113,156 shares of the financial services provider’s stock after selling 9,219 shares during the period. Principal Financial Group Inc. owned approximately 0.45% of NexPoint Residential Trust worth $4,980,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of NXRT. Point72 DIFC Ltd purchased a new position in shares of NexPoint Residential Trust in the 2nd quarter worth approximately $32,000. Mirae Asset Global Investments Co. Ltd. boosted its position in NexPoint Residential Trust by 34.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 900 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 232 shares during the last quarter. Signaturefd LLC raised its stake in shares of NexPoint Residential Trust by 238.4% during the 2nd quarter. Signaturefd LLC now owns 1,039 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 732 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in NexPoint Residential Trust by 40.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,107 shares of the financial services provider’s stock valued at $123,000 after buying an additional 900 shares during the period. Finally, Van ECK Associates Corp raised its stake in shares of NexPoint Residential Trust by 7.3% in 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.

NexPoint Residential Trust Stock Down 0.8 %

Shares of NXRT opened at $45.77 on Thursday. 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. The stock has a 50 day simple moving average of $44.12 and a two-hundred day simple moving average of $41.74. The firm has a market cap of $1.16 billion, a P/E ratio of 26.34, a P/E/G ratio of 1.52 and a beta of 1.37.

NexPoint Residential Trust (NYSE:NXRT) last announced its quarterly earnings data on Tuesday, October 29th. The financial services provider reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($1.01). The business had revenue of $64.10 million during the quarter, compared to analysts’ expectations 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 last year, the company posted $0.76 EPS. On average, analysts forecast that NexPoint Residential Trust, Inc. will post 2.78 earnings per share for the current fiscal year.

NexPoint Residential Trust Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be paid 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 dividend yield of 4.46%. NexPoint Residential Trust’s dividend payout ratio (DPR) is presently 105.71%.

Analysts Set New Price Targets

NXRT has been the topic of a number of research reports. Truist Financial boosted their price objective on NexPoint Residential Trust from $37.00 to $46.00 and gave the company a “hold” rating in a research note on Tuesday, August 27th. Compass Point upped their price target on shares of NexPoint Residential Trust from $45.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. StockNews.com raised shares of NexPoint Residential Trust from a “sell” rating to a “hold” rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft boosted their target price on shares of NexPoint Residential Trust from $38.00 to $44.00 and gave the company a “hold” rating in a report on Tuesday, September 10th. Finally, 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 report on Friday, August 2nd. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $46.83.

NexPoint Residential Trust 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.