Victory Capital Management Inc. Cuts Stake in NexPoint Residential Trust, Inc. (NYSE:NXRT)

Victory Capital Management Inc. lowered its position in shares of NexPoint Residential Trust, Inc. (NYSE:NXRT) by 3.6% in the third quarter, Holdings Channel reports. The institutional investor owned 21,200 shares of the financial services provider’s stock after selling 800 shares during the period. Victory Capital Management Inc.’s holdings in NexPoint Residential Trust were worth $933,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of NexPoint Residential Trust by 34.7% in 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 in the last quarter. Van ECK Associates Corp increased its holdings in shares of NexPoint Residential Trust by 7.3% in the 2nd quarter. Van ECK Associates Corp now owns 3,473 shares of the financial services provider’s stock valued at $137,000 after purchasing an additional 236 shares in the last quarter. Creative Planning increased its holdings in shares of NexPoint Residential Trust by 3.0% in the 3rd quarter. Creative Planning now owns 11,785 shares of the financial services provider’s stock valued at $519,000 after purchasing an additional 341 shares in the last quarter. Federated Hermes Inc. grew its stake in NexPoint Residential Trust by 4.1% in the 2nd quarter. Federated Hermes Inc. now owns 9,094 shares of the financial services provider’s stock valued at $359,000 after acquiring an additional 359 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co grew its stake in NexPoint Residential Trust by 1.0% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 47,286 shares of the financial services provider’s stock valued at $1,521,000 after acquiring an additional 477 shares during the last quarter. Hedge funds and other institutional investors own 76.61% of the company’s stock.

NexPoint Residential Trust Price Performance

NexPoint Residential Trust stock opened at $47.48 on Thursday. NexPoint Residential Trust, Inc. has a 12-month low of $28.20 and a 12-month high of $48.37. The stock has a market capitalization of $1.21 billion, a P/E ratio of 27.28, a P/E/G ratio of 1.57 and a beta of 1.37. The firm’s 50-day moving average is $44.20 and its two-hundred day moving average is $42.13. The company has a debt-to-equity ratio of 3.25, a current ratio of 1.79 and a quick ratio of 1.79.

NexPoint Residential Trust (NYSE:NXRT) last released its quarterly earnings results 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). NexPoint Residential Trust had a return on equity of 9.54% and a net margin of 17.54%. The firm had revenue of $64.10 million for the quarter, compared to analyst estimates of $64.69 million. During the same period in the prior year, the business earned $0.76 earnings per share. Equities analysts predict that NexPoint Residential Trust, Inc. will post 2.78 earnings per share for the current year.

NexPoint Residential Trust Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be given a $0.51 dividend. 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 4.30%. NexPoint Residential Trust’s dividend payout ratio (DPR) is currently 105.71%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. JMP Securities increased their price objective 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. StockNews.com raised shares of NexPoint Residential Trust from a “sell” rating to a “hold” rating in a research note on Tuesday, November 19th. 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 research note on Wednesday, July 31st. Truist Financial increased 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 note on Tuesday, August 27th. Finally, Deutsche Bank Aktiengesellschaft increased 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 note on Tuesday, September 10th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $46.83.

NexPoint Residential Trust 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.