The Manufacturers Life Insurance Company Buys 2,831 Shares of NexPoint Residential Trust, Inc. (NYSE:NXRT)

The Manufacturers Life Insurance Company grew its stake in NexPoint Residential Trust, Inc. (NYSE:NXRT) by 30.1% during the third quarter, Holdings Channel.com reports. The fund owned 12,223 shares of the financial services provider’s stock after purchasing an additional 2,831 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in NexPoint Residential Trust were worth $538,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in NXRT. Price T Rowe Associates Inc. MD purchased a new position in shares of NexPoint Residential Trust in the first quarter worth $212,000. SG Americas Securities LLC raised its stake in NexPoint Residential Trust by 24.2% during the second quarter. SG Americas Securities LLC now owns 9,919 shares of the financial services provider’s stock worth $392,000 after purchasing an additional 1,932 shares during the period. TCW Group Inc. raised its position in NexPoint Residential Trust by 24.4% in the second quarter. TCW Group Inc. now owns 63,826 shares of the financial services provider’s stock valued at $2,522,000 after purchasing an additional 12,509 shares during the period. Nisa Investment Advisors LLC raised its stake in shares of NexPoint Residential Trust by 5.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 11,169 shares of the financial services provider’s stock valued at $441,000 after acquiring an additional 528 shares during the period. Finally, Graybill Wealth Management LTD. boosted its position in shares of NexPoint Residential Trust by 0.7% during the second quarter. Graybill Wealth Management LTD. now owns 67,986 shares of the financial services provider’s stock worth $2,686,000 after buying an additional 505 shares during the period. 76.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on NXRT shares. StockNews.com upgraded NexPoint Residential Trust from a “sell” rating to a “hold” rating in a report on Thursday. Raymond James upgraded shares of NexPoint Residential Trust from a “market perform” rating to an “outperform” rating and set a $50.00 price objective on the stock in a research note on Monday, October 21st. Truist Financial lifted 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. Finally, Deutsche Bank Aktiengesellschaft lifted 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 report on Tuesday, September 10th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $46.83.

NexPoint Residential Trust Stock Performance

Shares of NYSE NXRT opened at $44.88 on Friday. NexPoint Residential Trust, Inc. has a 52-week low of $28.20 and a 52-week high of $48.37. The stock’s fifty day simple moving average is $44.77 and its 200 day simple moving average is $43.01. 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 stock has a market capitalization of $1.14 billion, a price-to-earnings ratio of 25.65, a PEG ratio of 2.75 and a beta of 1.40.

NexPoint Residential Trust (NYSE:NXRT) last posted its 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 return on equity of 9.54% and a net margin of 17.54%. The business had revenue of $64.10 million for the quarter, compared to analyst estimates of $64.69 million. During the same period in the previous year, the company earned $0.76 earnings per share. As a group, sell-side 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 business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be issued a $0.51 dividend. The ex-dividend date is Friday, December 13th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 4.55%. This is a positive change from NexPoint Residential Trust’s previous quarterly dividend of $0.46. NexPoint Residential Trust’s dividend payout ratio (DPR) is currently 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.