Franklin Resources Inc. Has $1.51 Million Position in NexPoint Residential Trust, Inc. (NYSE:NXRT)

Franklin Resources Inc. grew its holdings in NexPoint Residential Trust, Inc. (NYSE:NXRT) by 164.0% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 34,865 shares of the financial services provider’s stock after buying an additional 21,660 shares during the quarter. Franklin Resources Inc.’s holdings in NexPoint Residential Trust were worth $1,506,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NXRT. Valley Wealth Managers Inc. bought a new stake in NexPoint Residential Trust in the third quarter valued at about $27,000. Point72 DIFC Ltd acquired a new stake in NexPoint Residential Trust during the second quarter valued at approximately $32,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in NexPoint Residential Trust by 34.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 900 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 232 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in shares of NexPoint Residential Trust in the 3rd quarter valued at approximately $42,000. Finally, Signaturefd LLC raised its holdings in shares of NexPoint Residential Trust by 238.4% in the 2nd quarter. Signaturefd LLC now owns 1,039 shares of the financial services provider’s stock worth $41,000 after buying an additional 732 shares in the last quarter. 76.61% of the stock is owned by institutional investors.

NexPoint Residential Trust Price Performance

Shares of NXRT stock opened at $41.65 on Friday. NexPoint Residential Trust, Inc. has a 52 week low of $28.20 and a 52 week high of $48.37. The stock has a market capitalization of $1.06 billion, a PE ratio of 23.80, a PEG ratio of 2.69 and a beta of 1.40. The company has a debt-to-equity ratio of 3.25, a quick ratio of 1.79 and a current ratio of 1.79. The stock’s fifty day moving average is $44.72 and its 200-day moving average is $43.31.

NexPoint Residential Trust (NYSE:NXRT) last issued its quarterly earnings data on Tuesday, October 29th. The financial services provider reported ($0.35) EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $64.10 million for the quarter, compared to the consensus estimate of $64.69 million. During the same period in the prior year, the company earned $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 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 of this dividend is Friday, December 13th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 4.90%. 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 116.57%.

Analysts Set New Price Targets

NXRT has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft boosted 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. Raymond James raised shares of 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. Finally, StockNews.com raised shares of NexPoint Residential Trust from a “sell” rating to a “hold” rating in a report on Saturday. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, NexPoint Residential Trust presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.00.

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.