Victory Capital Management Inc. Cuts Stake in NexPoint Residential Trust, Inc. (NYSE:NXRT)

Victory Capital Management Inc. lessened its position in shares of NexPoint Residential Trust, Inc. (NYSE:NXRT) by 3.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,200 shares of the financial services provider’s stock after selling 800 shares during the period. Victory Capital Management Inc. owned about 0.08% of NexPoint Residential Trust worth $933,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Renaissance Technologies LLC grew its holdings in 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 acquiring an additional 15,400 shares in the last quarter. Long Pond Capital LP acquired a new position in NexPoint Residential Trust during the 2nd quarter worth approximately $24,273,000. Algert Global LLC grew its holdings in NexPoint Residential Trust by 17.2% during the 2nd quarter. Algert Global LLC now owns 86,003 shares of the financial services provider’s stock worth $3,398,000 after acquiring an additional 12,627 shares in the last quarter. Cubist Systematic Strategies LLC grew its holdings in NexPoint Residential Trust by 50.1% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 13,812 shares of the financial services provider’s stock worth $546,000 after acquiring an additional 4,608 shares in the last quarter. Finally, SG Americas Securities LLC grew its holdings in NexPoint Residential Trust by 58.0% during the 3rd quarter. SG Americas Securities LLC now owns 15,670 shares of the financial services provider’s stock worth $690,000 after acquiring an additional 5,751 shares in the last quarter. Institutional investors and hedge funds own 76.61% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on NXRT. Deutsche Bank Aktiengesellschaft boosted their price target 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. Truist Financial upped their target price 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. StockNews.com upgraded shares of NexPoint Residential Trust from a “sell” rating to a “hold” rating in a report on Tuesday, November 19th. Raymond James upgraded shares of 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, JMP Securities upped 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 report on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, NexPoint Residential Trust presently has an average rating of “Hold” and an average price target of $46.83.

NexPoint Residential Trust Stock Down 0.5 %

NXRT stock opened at $47.48 on Thursday. The company has a fifty day moving average price of $44.20 and a 200 day moving average price of $42.13. NexPoint Residential Trust, Inc. has a 12 month low of $28.20 and a 12 month high of $48.37. The company has a market cap of $1.21 billion, a price-to-earnings ratio of 27.28, a price-to-earnings-growth ratio of 1.57 and a beta of 1.37. 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 results on Tuesday, October 29th. The financial services provider reported ($0.35) EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $64.69 million. During the same quarter last year, the company earned $0.76 EPS. Sell-side analysts expect that NexPoint Residential Trust, Inc. will post 2.78 earnings per share 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. Shareholders of record on Friday, December 13th will be given a dividend of $0.51 per share. The ex-dividend date is Friday, December 13th. This represents a $2.04 dividend on an annualized basis and a yield of 4.30%. This is an increase from NexPoint Residential Trust’s previous quarterly dividend of $0.46. NexPoint Residential Trust’s dividend payout ratio is presently 105.71%.

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.