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

The Manufacturers Life Insurance Company raised its stake in NexPoint Residential Trust, Inc. (NYSE:NXRT) by 9.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,392 shares of the financial services provider’s stock after acquiring an additional 826 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in NexPoint Residential Trust were worth $371,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Cubist Systematic Strategies LLC increased its stake in NexPoint Residential Trust by 50.1% in the second quarter. Cubist Systematic Strategies LLC now owns 13,812 shares of the financial services provider’s stock valued at $546,000 after purchasing an additional 4,608 shares during the last quarter. Point72 DIFC Ltd acquired a new position in NexPoint Residential Trust in the second quarter valued at $32,000. Sei Investments Co. increased its stake in NexPoint Residential Trust by 11.8% in the second quarter. Sei Investments Co. now owns 31,222 shares of the financial services provider’s stock valued at $1,234,000 after purchasing an additional 3,301 shares during the last quarter. Intech Investment Management LLC acquired a new position in NexPoint Residential Trust in the second quarter valued at $266,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new position in NexPoint Residential Trust in the second quarter valued at $201,000. 76.61% of the stock is owned by institutional investors and hedge funds.

NexPoint Residential Trust Stock Performance

NXRT opened at $45.15 on Thursday. The business has a fifty day simple moving average of $44.71 and a 200-day simple moving average of $39.71. The firm has a market cap of $1.16 billion, a PE ratio of 15.95, a P/E/G ratio of 1.27 and a beta of 1.37. NexPoint Residential Trust, Inc. has a fifty-two week low of $26.21 and a fifty-two week high of $48.37. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 2.96.

NexPoint Residential Trust (NYSE:NXRT) last released its earnings results on Tuesday, July 30th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.29). NexPoint Residential Trust had a net margin of 32.93% and a return on equity of 17.69%. The business had revenue of $64.24 million during the quarter, compared to analysts’ expectations of $64.99 million. During the same quarter in the previous year, the company earned $0.88 EPS. As a group, equities analysts predict that NexPoint Residential Trust, Inc. will post 2.82 EPS for the current fiscal year.

NexPoint Residential Trust Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were paid a dividend of $0.462 per share. This represents a $1.85 dividend on an annualized basis and a yield of 4.09%. The ex-dividend date was Friday, September 13th. NexPoint Residential Trust’s dividend payout ratio is 65.37%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Compass Point boosted their price target on NexPoint Residential Trust from $45.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. JMP Securities boosted their price target on NexPoint Residential Trust from $40.00 to $50.00 and gave the company a “market outperform” rating in a research report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft boosted their price target on NexPoint Residential Trust from $38.00 to $44.00 and gave the company a “hold” rating in a research report on Tuesday, September 10th. Finally, Truist Financial boosted their price target on NexPoint Residential Trust from $37.00 to $46.00 and gave the company a “hold” rating in a research report on Tuesday, August 27th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $46.20.

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.