4,645 Shares in NexPoint Residential Trust, Inc. (NYSE:NXRT) Acquired by abrdn plc

abrdn plc acquired a new position in shares of NexPoint Residential Trust, Inc. (NYSE:NXRT) in the 3rd quarter, HoldingsChannel.com reports. The fund acquired 4,645 shares of the financial services provider’s stock, valued at approximately $204,000.

A number of other institutional investors also recently bought and sold shares of the company. Long Pond Capital LP acquired a new position in shares of NexPoint Residential Trust during the 2nd quarter worth $24,273,000. Dimensional Fund Advisors LP increased its holdings in NexPoint Residential Trust by 7.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 339,138 shares of the financial services provider’s stock valued at $13,399,000 after acquiring an additional 23,888 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of NexPoint Residential Trust by 10.5% in the second quarter. Renaissance Technologies LLC now owns 161,713 shares of the financial services provider’s stock valued at $6,389,000 after purchasing an additional 15,400 shares in the last quarter. Algert Global LLC grew its position 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 purchasing an additional 12,627 shares during the last quarter. Finally, TCW Group Inc. increased its stake in shares of NexPoint Residential Trust by 24.4% during the 2nd quarter. TCW Group Inc. now owns 63,826 shares of the financial services provider’s stock worth $2,522,000 after purchasing an additional 12,509 shares in the last quarter. 76.61% of the stock is currently owned by hedge funds and other institutional investors.

NexPoint Residential Trust Stock Up 2.7 %

Shares of NYSE:NXRT opened at $42.32 on Wednesday. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 3.25. The firm has a market cap of $1.08 billion, a price-to-earnings ratio of 24.18, a PEG ratio of 1.24 and a beta of 1.37. The stock’s 50-day moving average price is $44.29 and its two-hundred day moving average price is $40.90. NexPoint Residential Trust, Inc. has a 12-month low of $28.20 and a 12-month high of $48.37.

NexPoint Residential Trust (NYSE:NXRT) last announced its quarterly earnings data on Tuesday, October 29th. The financial services provider reported ($0.35) earnings per share for the quarter, missing the consensus estimate 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 analysts’ expectations of $64.69 million. During the same quarter in the previous year, the company earned $0.76 earnings per share. On average, research analysts forecast that NexPoint Residential Trust, Inc. will post 2.78 EPS for the current year.

NexPoint Residential Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be paid a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, December 13th. This is a boost from NexPoint Residential Trust’s previous quarterly dividend of $0.46. This represents a $2.04 annualized dividend and a dividend yield of 4.82%. NexPoint Residential Trust’s payout ratio is currently 116.57%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Truist Financial increased their target price on NexPoint Residential Trust from $37.00 to $46.00 and gave the company a “hold” rating in a report on Tuesday, August 27th. Raymond James upgraded NexPoint Residential Trust from a “market perform” rating to an “outperform” rating and set a $50.00 price objective for the company in a research report on Monday, October 21st. JMP Securities boosted their target price on shares of NexPoint Residential Trust from $40.00 to $50.00 and gave the company a “market outperform” rating in a research note on Friday, August 2nd. Compass Point raised their price target on shares of NexPoint Residential Trust from $45.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of NexPoint Residential Trust from $38.00 to $44.00 and gave the company a “hold” rating in a research report on Tuesday, September 10th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, NexPoint Residential Trust currently has an average rating of “Hold” and an average target price of $46.83.

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.