Public Sector Pension Investment Board Has $1.99 Million Stake in NexPoint Residential Trust, Inc. (NYSE:NXRT)

Public Sector Pension Investment Board reduced its stake in NexPoint Residential Trust, Inc. (NYSE:NXRT) by 26.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 50,258 shares of the financial services provider’s stock after selling 18,163 shares during the period. Public Sector Pension Investment Board owned approximately 0.20% of NexPoint Residential Trust worth $1,986,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of the stock. Van ECK Associates Corp raised its position in NexPoint Residential Trust by 7.3% in the 2nd quarter. Van ECK Associates Corp now owns 3,473 shares of the financial services provider’s stock valued at $137,000 after purchasing an additional 236 shares during the last quarter. Federated Hermes Inc. increased its stake in shares of NexPoint Residential Trust by 4.1% in the 2nd quarter. Federated Hermes Inc. now owns 9,094 shares of the financial services provider’s stock valued at $359,000 after acquiring an additional 359 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of NexPoint Residential Trust by 1.5% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 27,196 shares of the financial services provider’s stock valued at $875,000 after acquiring an additional 399 shares during the period. CANADA LIFE ASSURANCE Co raised its position in shares of NexPoint Residential Trust by 1.0% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 47,286 shares of the financial services provider’s stock valued at $1,521,000 after acquiring an additional 477 shares during the period. Finally, Graybill Wealth Management LTD. increased its stake in NexPoint Residential Trust by 0.7% in the second quarter. Graybill Wealth Management LTD. now owns 67,986 shares of the financial services provider’s stock valued at $2,686,000 after purchasing an additional 505 shares in the last quarter. 76.61% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

NXRT has been the subject of a number of research analyst reports. Truist Financial boosted their target price on NexPoint Residential Trust from $37.00 to $46.00 and gave the company a “hold” rating in a research note on Tuesday, August 27th. Compass Point increased their target price on shares of NexPoint Residential Trust from $45.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft raised their price target on 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, JMP Securities boosted their price objective on shares of NexPoint Residential Trust from $40.00 to $50.00 and gave the stock a “market outperform” rating in a research note on Friday, August 2nd. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $46.20.

NexPoint Residential Trust Stock Performance

NYSE:NXRT opened at $43.40 on Monday. The stock has a 50 day simple moving average of $44.78 and a 200 day simple moving average of $38.59. The stock has a market cap of $1.11 billion, a P/E ratio of 15.34, a PEG ratio of 1.35 and a beta of 1.38. NexPoint Residential Trust, Inc. has a 1-year low of $26.21 and a 1-year high of $48.37. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 2.96.

NexPoint Residential Trust (NYSE:NXRT) last posted its quarterly earnings data on Tuesday, July 30th. The financial services provider reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.69 by ($0.29). NexPoint Residential Trust had a return on equity of 17.69% and a net margin of 32.93%. The firm had revenue of $64.24 million for the quarter, compared to the consensus estimate of $64.99 million. During the same period in the prior year, the company earned $0.88 EPS. Research analysts anticipate that NexPoint Residential Trust, Inc. will post 2.82 earnings per share for the current year.

NexPoint Residential Trust Cuts Dividend

The firm also recently declared 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 4.26%. The ex-dividend date of this dividend is Friday, September 13th. NexPoint Residential Trust’s dividend payout ratio (DPR) is currently 65.37%.

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.