MQS Management LLC Purchases Shares of 6,593 NexPoint Residential Trust, Inc. (NYSE:NXRT)

MQS Management LLC acquired a new position in NexPoint Residential Trust, Inc. (NYSE:NXRT) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 6,593 shares of the financial services provider’s stock, valued at approximately $290,000.

A number of other hedge funds also recently made changes to their positions in NXRT. Van ECK Associates Corp boosted its position in shares of NexPoint Residential Trust by 12.3% in the third quarter. Van ECK Associates Corp now owns 3,901 shares of the financial services provider’s stock worth $173,000 after purchasing an additional 428 shares during the period. abrdn plc bought a new position in shares of NexPoint Residential Trust in the third quarter worth about $204,000. Mirae Asset Global Investments Co. Ltd. raised its stake in NexPoint Residential Trust by 34.7% during the 3rd 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 during the period. Narwhal Capital Management lifted its holdings in NexPoint Residential Trust by 8.3% in the 3rd quarter. Narwhal Capital Management now owns 62,089 shares of the financial services provider’s stock worth $2,733,000 after purchasing an additional 4,738 shares in the last quarter. Finally, Graybill Wealth Management LTD. boosted its stake in NexPoint Residential Trust by 1.1% in the 3rd quarter. Graybill Wealth Management LTD. now owns 68,714 shares of the financial services provider’s stock worth $3,024,000 after purchasing an additional 728 shares during the period. 76.61% of the stock is currently owned by institutional investors.

NexPoint Residential Trust Trading Down 2.0 %

Shares of NYSE NXRT opened at $45.09 on Friday. NexPoint Residential Trust, Inc. has a 1-year low of $28.20 and a 1-year high of $48.37. The company has a debt-to-equity ratio of 3.25, a current ratio of 1.79 and a quick ratio of 1.79. The business’s 50 day moving average is $44.10 and its two-hundred day moving average is $41.36. The stock has a market capitalization of $1.15 billion, a P/E ratio of 25.77, a PEG ratio of 1.40 and a beta of 1.37.

NexPoint Residential Trust (NYSE:NXRT) last issued its quarterly earnings results on Tuesday, October 29th. The financial services provider reported ($0.35) earnings per share (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 during the quarter, compared to the consensus estimate of $64.69 million. During the same quarter in the prior year, the business earned $0.76 earnings per share. As a group, research analysts expect that NexPoint Residential Trust, Inc. will post 2.78 EPS for the current year.

NexPoint Residential Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be paid a dividend of $0.51 per share. The ex-dividend date is Friday, December 13th. This is a boost from NexPoint Residential Trust’s previous quarterly dividend of $0.46. This represents a $2.04 dividend on an annualized basis and a dividend yield of 4.52%. NexPoint Residential Trust’s payout ratio is currently 105.71%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on NXRT. Truist Financial lifted their price objective on shares of NexPoint Residential Trust from $37.00 to $46.00 and gave the company a “hold” rating in a research report on Tuesday, August 27th. Raymond James upgraded shares of NexPoint Residential Trust from a “market perform” rating to an “outperform” rating and set a $50.00 price target on the stock in a report on Monday, October 21st. Compass Point increased their price objective on shares of NexPoint Residential Trust from $45.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. StockNews.com lowered NexPoint Residential Trust from a “hold” rating to a “sell” rating in a research report on Monday. Finally, JMP Securities boosted their target price on NexPoint Residential Trust from $40.00 to $50.00 and gave the stock a “market outperform” rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $46.83.

NexPoint Residential Trust Company 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.