Summit Global Investments Sells 306 Shares of NexPoint Residential Trust, Inc. (NYSE:NXRT)

Summit Global Investments cut its stake in shares of NexPoint Residential Trust, Inc. (NYSE:NXRT) by 3.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,697 shares of the financial services provider’s stock after selling 306 shares during the period. Summit Global Investments’ holdings in NexPoint Residential Trust were worth $427,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of NXRT. Renaissance Technologies LLC grew its position in NexPoint Residential Trust by 10.5% during the 2nd quarter. Renaissance Technologies LLC now owns 161,713 shares of the financial services provider’s stock worth $6,389,000 after acquiring an additional 15,400 shares during the last quarter. Long Pond Capital LP acquired a new stake in shares of NexPoint Residential Trust during the second quarter valued at about $24,273,000. BOKF NA grew its holdings in shares of NexPoint Residential Trust by 3.1% during the first quarter. BOKF NA now owns 176,579 shares of the financial services provider’s stock worth $5,575,000 after purchasing an additional 5,248 shares during the last quarter. Algert Global LLC increased its stake in shares of NexPoint Residential Trust by 17.2% in the second quarter. Algert Global LLC now owns 86,003 shares of the financial services provider’s stock valued at $3,398,000 after buying an additional 12,627 shares during the period. Finally, BNP Paribas Financial Markets raised its holdings in NexPoint Residential Trust by 6.7% in the 1st quarter. BNP Paribas Financial Markets now owns 31,164 shares of the financial services provider’s stock valued at $1,003,000 after buying an additional 1,955 shares during the last quarter. 76.61% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on NXRT. Compass Point upped their price target on shares of NexPoint Residential Trust from $45.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft increased their price objective on NexPoint Residential Trust from $38.00 to $44.00 and gave the company a “hold” rating in a report on Tuesday, September 10th. Raymond James raised NexPoint Residential Trust from a “market perform” rating to an “outperform” rating and set a $50.00 target price on the stock in a report on Monday, October 21st. Truist Financial increased their price target 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. Finally, JMP Securities upped their target price on NexPoint Residential Trust from $40.00 to $50.00 and gave the company a “market outperform” rating in a report on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $46.83.

NexPoint Residential Trust Price Performance

NXRT stock opened at $46.10 on Monday. NexPoint Residential Trust, Inc. has a 1 year low of $28.20 and a 1 year high of $48.37. The stock has a market capitalization of $1.17 billion, a PE ratio of 26.34, a price-to-earnings-growth ratio of 1.40 and a beta of 1.37. The company’s 50-day moving average is $44.14 and its 200-day moving average is $41.15. The company has a debt-to-equity ratio of 3.25, a current ratio of 1.79 and a quick ratio of 1.79.

NexPoint Residential Trust (NYSE:NXRT) last announced its quarterly earnings results on Tuesday, October 29th. The financial services provider reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($1.01). The firm had revenue of $64.10 million during the quarter, compared to the consensus estimate of $64.69 million. NexPoint Residential Trust had a return on equity of 9.54% and a net margin of 17.54%. During the same quarter in the previous year, the company posted $0.76 EPS. Equities research analysts expect that NexPoint Residential Trust, Inc. will post 2.78 EPS for the current fiscal year.

NexPoint Residential Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 4.43%. The ex-dividend date is Friday, December 13th. This is a positive change from NexPoint Residential Trust’s previous quarterly dividend of $0.46. NexPoint Residential Trust’s payout ratio is 105.71%.

About NexPoint Residential Trust

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.