NexPoint Residential Trust, Inc. (NYSE:NXRT) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. decreased its stake in shares of NexPoint Residential Trust, Inc. (NYSE:NXRT) by 3.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 122,375 shares of the financial services provider’s stock after selling 4,692 shares during the period. Principal Financial Group Inc. owned approximately 0.48% of NexPoint Residential Trust worth $4,835,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Van ECK Associates Corp grew its stake in shares of NexPoint Residential Trust by 19.7% in the 4th quarter. Van ECK Associates Corp now owns 3,163 shares of the financial services provider’s stock worth $109,000 after purchasing an additional 520 shares during the last quarter. Quest Partners LLC acquired a new position in shares of NexPoint Residential Trust in the 4th quarter worth approximately $140,000. Price T Rowe Associates Inc. MD acquired a new position in shares of NexPoint Residential Trust in the 1st quarter worth approximately $212,000. Daiwa Securities Group Inc. grew its stake in shares of NexPoint Residential Trust by 8.9% in the 1st quarter. Daiwa Securities Group Inc. now owns 7,436 shares of the financial services provider’s stock worth $239,000 after purchasing an additional 610 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System grew its stake in shares of NexPoint Residential Trust by 53.1% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 9,860 shares of the financial services provider’s stock worth $317,000 after purchasing an additional 3,420 shares during the last quarter. Institutional investors and hedge funds own 76.61% of the company’s stock.

NexPoint Residential Trust Stock Performance

Shares of NXRT opened at $45.89 on Wednesday. The company’s 50 day moving average price is $43.19 and its 200 day moving average price is $37.12. NexPoint Residential Trust, Inc. has a 52 week low of $26.21 and a 52 week high of $48.37. The company has a market capitalization of $1.17 billion, a PE ratio of 16.22, a PEG ratio of 1.35 and a beta of 1.37. The company has a debt-to-equity ratio of 2.96, a quick ratio of 2.00 and a current ratio of 2.00.

NexPoint Residential Trust (NYSE:NXRT) last announced its quarterly earnings data on Tuesday, July 30th. The financial services provider reported $0.40 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 company had revenue of $64.24 million for the quarter, compared to analysts’ expectations of $64.99 million. During the same period in the previous year, the firm posted $0.88 earnings per share. Research analysts expect that NexPoint Residential Trust, Inc. will post 2.82 EPS for the current fiscal year.

NexPoint Residential Trust Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be given a $0.462 dividend. This represents a $1.85 annualized dividend and a yield of 4.03%. The ex-dividend date of this dividend is Friday, September 13th. NexPoint Residential Trust’s dividend payout ratio is 65.37%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on NXRT. JMP Securities boosted their price target 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. Deutsche Bank Aktiengesellschaft boosted their price target on shares of NexPoint Residential Trust from $38.00 to $44.00 and gave the company a “hold” rating in a report on Tuesday. Raymond James upgraded shares of NexPoint Residential Trust from an “underperform” rating to a “market perform” rating in a report on Friday, May 24th. Compass Point boosted their price target on shares of NexPoint Residential Trust from $45.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, Truist Financial boosted their price target 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. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $46.20.

Insiders Place Their Bets

In other NexPoint Residential Trust news, insider Brian Mitts sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $39.40, for a total value of $78,800.00. Following the completion of the sale, the insider now directly owns 65,696 shares of the company’s stock, valued at $2,588,422.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 12.96% of the company’s stock.

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.