NexPoint Residential Trust (NYSE:NXRT) Trading Up 5.4% Following Dividend Announcement

Shares of NexPoint Residential Trust, Inc. (NYSE:NXRT) were up 5.4% on Tuesday after the company announced a dividend. The stock traded as high as $40.96 and last traded at $41.07. Approximately 57,487 shares traded hands during trading, a decline of 43% from the average daily volume of 101,239 shares. The stock had previously closed at $38.96.

The newly announced dividend which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 5.04%. NexPoint Residential Trust’s payout ratio is currently 116.57%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded NexPoint Residential Trust from a “sell” rating to a “hold” rating in a research note on Friday, February 21st. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $49.00.

NexPoint Residential Trust Stock Up 3.9 %

The business has a 50-day moving average price of $39.98 and a two-hundred day moving average price of $43.18. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 3.25. The firm has a market cap of $1.03 billion, a PE ratio of 23.14, a price-to-earnings-growth ratio of 2.34 and a beta of 1.42.

Hedge Funds Weigh In On NexPoint Residential Trust

A number of institutional investors and hedge funds have recently modified their holdings of NXRT. Valley Wealth Managers Inc. acquired a new position in NexPoint Residential Trust in the third quarter valued at $27,000. Johnson Financial Group Inc. acquired a new stake in shares of NexPoint Residential Trust during the fourth quarter worth about $35,000. Smartleaf Asset Management LLC boosted its stake in shares of NexPoint Residential Trust by 104.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 894 shares of the financial services provider’s stock worth $37,000 after buying an additional 456 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake 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 worth $39,000 after buying an additional 232 shares during the period. Finally, Meeder Asset Management Inc. acquired a new stake in shares of NexPoint Residential Trust during the third quarter worth about $42,000. Institutional investors and hedge funds own 76.61% of the company’s stock.

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.