State Street Corp Lowers Stock Holdings in NexPoint Residential Trust, Inc. (NYSE:NXRT)

State Street Corp lessened its holdings in NexPoint Residential Trust, Inc. (NYSE:NXRT) by 1.8% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 1,322,142 shares of the financial services provider’s stock after selling 23,882 shares during the period. State Street Corp owned 5.21% of NexPoint Residential Trust worth $58,187,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of NXRT. Long Pond Capital LP purchased a new position in shares of NexPoint Residential Trust in the second quarter worth $24,273,000. Dimensional Fund Advisors LP lifted its stake in NexPoint Residential Trust by 7.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 339,138 shares of the financial services provider’s stock worth $13,399,000 after purchasing an additional 23,888 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of 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 purchasing an additional 8,795 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of NexPoint Residential Trust by 4.0% during the second 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 purchasing an additional 9,297 shares in the last quarter. Finally, BOKF NA increased its holdings in shares of NexPoint Residential Trust by 0.4% in the second quarter. BOKF NA now owns 177,320 shares of the financial services provider’s stock worth $7,006,000 after purchasing an additional 741 shares during the last quarter. 76.61% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Raymond James raised 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. StockNews.com raised shares of NexPoint Residential Trust from a “sell” rating to a “hold” rating in a report on Thursday, December 12th. Deutsche Bank Aktiengesellschaft upped their price target 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. Finally, Truist Financial lifted their price objective on shares of NexPoint Residential Trust from $37.00 to $46.00 and gave the stock a “hold” rating in a research note on Tuesday, August 27th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $46.83.

NexPoint Residential Trust Stock Down 4.9 %

NYSE NXRT opened at $42.47 on Thursday. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 3.25. NexPoint Residential Trust, Inc. has a 52 week low of $28.20 and a 52 week high of $48.37. The firm has a market capitalization of $1.08 billion, a price-to-earnings ratio of 24.27, a PEG ratio of 2.69 and a beta of 1.40. The company has a fifty day moving average of $44.88 and a two-hundred day moving average of $43.19.

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 the consensus estimate 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 previous year, the company posted $0.76 earnings per share. On average, analysts predict that NexPoint Residential Trust, Inc. will post 2.78 earnings per share for the current year.

NexPoint Residential Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 4.80%. This is an increase from NexPoint Residential Trust’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Friday, December 13th. NexPoint Residential Trust’s dividend payout ratio is presently 105.71%.

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.