Algert Global LLC Lowers Stock Holdings in NexPoint Residential Trust, Inc. (NYSE:NXRT)

Algert Global LLC lessened its stake in shares of NexPoint Residential Trust, Inc. (NYSE:NXRT) by 24.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 65,273 shares of the financial services provider’s stock after selling 20,730 shares during the quarter. Algert Global LLC owned about 0.26% of NexPoint Residential Trust worth $2,873,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Long Pond Capital LP acquired a new stake in NexPoint Residential Trust in the second quarter valued at about $24,273,000. Dimensional Fund Advisors LP lifted its holdings in shares of NexPoint Residential Trust by 7.6% in 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 buying an additional 23,888 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of NexPoint Residential Trust by 2.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 332,680 shares of the financial services provider’s stock valued at $14,641,000 after buying an additional 8,795 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of NexPoint Residential Trust by 4.0% in the second quarter. Bank of New York Mellon Corp now owns 244,264 shares of the financial services provider’s stock valued at $9,651,000 after buying an additional 9,297 shares in the last quarter. Finally, BOKF NA grew its holdings in NexPoint Residential Trust by 0.4% during the second quarter. BOKF NA now owns 177,320 shares of the financial services provider’s stock worth $7,006,000 after acquiring an additional 741 shares during the period. 76.61% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NXRT has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft boosted their target price on shares of NexPoint Residential Trust from $38.00 to $44.00 and gave the stock a “hold” rating in a research report on Tuesday, September 10th. Truist Financial upped their target price on shares of NexPoint Residential Trust from $37.00 to $46.00 and gave the stock 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 for the company in a research report on Monday, October 21st. StockNews.com upgraded NexPoint Residential Trust from a “sell” rating to a “hold” rating in a report on Tuesday, November 19th. Finally, JMP Securities raised their price objective on 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. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $46.83.

NexPoint Residential Trust Price Performance

NXRT stock opened at $47.74 on Wednesday. The stock’s 50 day moving average price is $44.16 and its 200 day moving average price is $42.05. The firm has a market cap of $1.21 billion, a P/E ratio of 27.28, a PEG ratio of 1.55 and a beta of 1.37. The company has a debt-to-equity ratio of 3.25, a quick ratio of 1.79 and a current ratio of 1.79. NexPoint Residential Trust, Inc. has a 1 year low of $28.20 and a 1 year high of $48.37.

NexPoint Residential Trust (NYSE:NXRT) last issued its quarterly earnings data on Tuesday, October 29th. The financial services provider reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($1.01). The company had revenue of $64.10 million during the quarter, compared to analysts’ expectations of $64.69 million. NexPoint Residential Trust had a net margin of 17.54% and a return on equity of 9.54%. During the same quarter in the prior year, the company earned $0.76 earnings per share. On average, sell-side analysts expect that NexPoint Residential Trust, Inc. will post 2.78 earnings per share for the current fiscal year.

NexPoint Residential Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be issued a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, December 13th. This is an increase 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 4.27%. NexPoint Residential Trust’s payout ratio is 116.57%.

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.