Price T Rowe Associates Inc. MD Grows Stake in NexPoint Residential Trust, Inc. (NYSE:NXRT)

Price T Rowe Associates Inc. MD lifted its position in NexPoint Residential Trust, Inc. (NYSE:NXRT) by 18.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 8,844 shares of the financial services provider’s stock after purchasing an additional 1,363 shares during the period. Price T Rowe Associates Inc. MD’s holdings in NexPoint Residential Trust were worth $370,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Van ECK Associates Corp lifted its position in NexPoint Residential Trust by 8.6% during the fourth quarter. Van ECK Associates Corp now owns 4,237 shares of the financial services provider’s stock valued at $177,000 after purchasing an additional 336 shares in the last quarter. Capital Square LLC increased its stake in NexPoint Residential Trust by 2.9% during the fourth quarter. Capital Square LLC now owns 12,741 shares of the financial services provider’s stock worth $493,000 after acquiring an additional 356 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in NexPoint Residential Trust by 0.3% during the fourth quarter. Envestnet Asset Management Inc. now owns 141,120 shares of the financial services provider’s stock worth $5,892,000 after acquiring an additional 364 shares during the last quarter. Sterling Capital Management LLC increased its stake in NexPoint Residential Trust by 2.0% during the fourth quarter. Sterling Capital Management LLC now owns 22,789 shares of the financial services provider’s stock worth $951,000 after acquiring an additional 439 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its stake in NexPoint Residential Trust by 104.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 894 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 456 shares during the last quarter. 76.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NXRT has been the subject of several recent analyst reports. Jefferies Financial Group boosted their target price on NexPoint Residential Trust from $41.00 to $43.00 and gave the company a “hold” rating in a research report on Monday, March 10th. StockNews.com lowered NexPoint Residential Trust from a “hold” rating to a “sell” rating in a report on Saturday, March 1st. Truist Financial upped their price target on NexPoint Residential Trust from $41.00 to $42.00 and gave the stock a “hold” rating in a research report on Monday, March 10th. Raymond James reduced their price target on NexPoint Residential Trust from $50.00 to $44.00 and set an “outperform” rating on the stock in a research report on Thursday, March 20th. Finally, Compass Point reissued a “neutral” rating and issued a $42.50 target price (down from $50.00) on shares of NexPoint Residential Trust in a research report on Tuesday. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, NexPoint Residential Trust presently has a consensus rating of “Hold” and an average target price of $44.25.

NexPoint Residential Trust Price Performance

NYSE:NXRT opened at $35.58 on Thursday. NexPoint Residential Trust, Inc. has a one year low of $30.98 and a one year high of $48.37. 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 firm has a market cap of $899.64 million, a price-to-earnings ratio of 20.33, a PEG ratio of 2.34 and a beta of 1.14. The firm’s fifty day moving average is $37.28 and its two-hundred day moving average is $40.48.

NexPoint Residential Trust (NYSE:NXRT) last posted its earnings results on Tuesday, April 29th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.06. NexPoint Residential Trust had a net margin of 17.54% and a return on equity of 9.54%. The business had revenue of $63.22 million for the quarter, compared to analyst estimates of $63.29 million. Research analysts expect that NexPoint Residential Trust, Inc. will post 2.86 EPS for the current year.

NexPoint Residential Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 5.73%. The ex-dividend date of this dividend is Monday, June 16th. NexPoint Residential Trust’s dividend payout ratio is presently -159.37%.

Insider Activity at NexPoint Residential Trust

In other NexPoint Residential Trust news, insider Paul Richards acquired 5,814 shares of the business’s stock in a transaction on Monday, April 7th. The stock was bought at an average price of $33.24 per share, for a total transaction of $193,257.36. Following the acquisition, the insider now owns 18,493 shares in the company, valued at approximately $614,707.32. The trade was a 45.86% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 15.36% of the stock is currently owned by corporate insiders.

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.