NexPoint Residential Trust (NYSE:NXRT) Trading 5.4% Higher After Dividend Announcement

NexPoint Residential Trust, Inc. (NYSE:NXRT) traded up 5.4% during mid-day trading on Tuesday after the company announced a dividend. The stock traded as high as $40.96 and last traded at $41.07. 57,487 shares were traded during trading, a decline of 43% from the average session volume of 101,239 shares. The stock had previously closed at $38.96.

The newly announced dividend which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.04 annualized dividend and a dividend yield of 5.04%. NexPoint Residential Trust’s payout ratio is 116.57%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised NexPoint Residential Trust from a “sell” rating to a “hold” rating in a report on Friday, February 21st. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, NexPoint Residential Trust currently has an average rating of “Moderate Buy” and a consensus target price of $49.00.

NexPoint Residential Trust Stock Up 0.2 %

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 company has a 50-day moving average of $39.98 and a two-hundred day moving average of $43.18. The company has a market capitalization of $1.03 billion, a PE ratio of 23.14, a P/E/G ratio of 2.34 and a beta of 1.42.

Institutional Investors Weigh In On NexPoint Residential Trust

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Nexpoint Asset Management L.P. raised its position in shares of NexPoint Residential Trust by 100.0% during the 4th quarter. Nexpoint Asset Management L.P. now owns 1,562,753 shares of the financial services provider’s stock valued at $65,245,000 after purchasing an additional 781,266 shares during the period. Copeland Capital Management LLC raised its stake in NexPoint Residential Trust by 0.9% during the 4th quarter. Copeland Capital Management LLC now owns 909,758 shares of the financial services provider’s stock valued at $37,982,000 after purchasing an additional 8,072 shares during the period. Geode Capital Management LLC lifted its holdings in NexPoint Residential Trust by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 576,084 shares of the financial services provider’s stock worth $25,358,000 after purchasing an additional 2,740 shares in the last quarter. Northern Trust Corp boosted its stake in NexPoint Residential Trust by 18.6% in the 4th quarter. Northern Trust Corp now owns 435,981 shares of the financial services provider’s stock worth $18,202,000 after purchasing an additional 68,471 shares during the period. Finally, Deutsche Bank AG raised its position in shares of NexPoint Residential Trust by 2.6% during the fourth quarter. Deutsche Bank AG now owns 381,537 shares of the financial services provider’s stock valued at $15,929,000 after buying an additional 9,754 shares during the last quarter. Institutional investors own 76.61% of the company’s stock.

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.