Algert Global LLC Purchases 12,627 Shares of NexPoint Residential Trust, Inc. (NYSE:NXRT)

Algert Global LLC increased its position in NexPoint Residential Trust, Inc. (NYSE:NXRT) by 17.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 86,003 shares of the financial services provider’s stock after purchasing an additional 12,627 shares during the quarter. Algert Global LLC’s holdings in NexPoint Residential Trust were worth $3,398,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Long Pond Capital LP bought a new position in NexPoint Residential Trust in the 2nd quarter valued at about $24,273,000. Dimensional Fund Advisors LP raised its holdings in NexPoint Residential Trust by 7.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 339,138 shares of the financial services provider’s stock valued at $13,399,000 after acquiring an additional 23,888 shares during the period. Bank of New York Mellon Corp raised its holdings in NexPoint Residential Trust by 4.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 244,264 shares of the financial services provider’s stock valued at $9,651,000 after acquiring an additional 9,297 shares during the period. BOKF NA raised its holdings in NexPoint Residential Trust by 0.4% in the 2nd quarter. BOKF NA now owns 177,320 shares of the financial services provider’s stock valued at $7,006,000 after acquiring an additional 741 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in NexPoint Residential Trust by 10.5% in the 2nd quarter. Renaissance Technologies LLC now owns 161,713 shares of the financial services provider’s stock valued at $6,389,000 after acquiring an additional 15,400 shares during the period. 76.61% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on NXRT. JMP Securities increased 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. Truist Financial increased their target price on shares of NexPoint Residential Trust from $37.00 to $46.00 and gave the stock a “hold” rating in a research report 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 research report on Wednesday, July 31st. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of NexPoint Residential Trust from $38.00 to $44.00 and gave the stock a “hold” rating in a research report on Tuesday, September 10th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $46.20.

NexPoint Residential Trust Stock Performance

NYSE NXRT opened at $44.03 on Tuesday. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 2.96. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of 15.56, a P/E/G ratio of 1.35 and a beta of 1.38. The firm’s 50 day simple moving average is $44.78 and its 200 day simple moving average is $38.65. NexPoint Residential Trust, Inc. has a 1 year low of $26.21 and a 1 year high of $48.37.

NexPoint Residential Trust (NYSE:NXRT) last posted its quarterly earnings results on Tuesday, July 30th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.29). The firm had revenue of $64.24 million for the quarter, compared to analyst estimates of $64.99 million. NexPoint Residential Trust had a return on equity of 17.69% and a net margin of 32.93%. During the same quarter in the prior year, the business posted $0.88 EPS. As a group, research analysts expect that NexPoint Residential Trust, Inc. will post 2.82 earnings per share 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. Stockholders of record on Friday, September 13th were paid a dividend of $0.462 per share. This represents a $1.85 annualized dividend and a dividend yield of 4.20%. The ex-dividend date was Friday, September 13th. NexPoint Residential Trust’s payout ratio 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.