ClearAlpha Technologies LP Invests $254,000 in NexPoint Residential Trust, Inc. (NYSE:NXRT)

ClearAlpha Technologies LP bought a new stake in NexPoint Residential Trust, Inc. (NYSE:NXRT) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 5,761 shares of the financial services provider’s stock, valued at approximately $254,000.

A number of other institutional investors have also recently added to or reduced their stakes in NXRT. Mirae Asset Global Investments Co. Ltd. raised 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 worth $39,000 after purchasing an additional 232 shares during the period. Van ECK Associates Corp lifted its position in NexPoint Residential Trust by 7.3% during the second quarter. Van ECK Associates Corp now owns 3,473 shares of the financial services provider’s stock valued at $137,000 after buying an additional 236 shares in the last quarter. Creative Planning grew its stake in NexPoint Residential Trust by 3.0% during the third quarter. Creative Planning now owns 11,785 shares of the financial services provider’s stock worth $519,000 after buying an additional 341 shares during the period. Federated Hermes Inc. increased its position in shares of NexPoint Residential Trust by 4.1% in the second quarter. Federated Hermes Inc. now owns 9,094 shares of the financial services provider’s stock worth $359,000 after acquiring an additional 359 shares in the last quarter. Finally, Graybill Wealth Management LTD. raised its stake in shares of NexPoint Residential Trust by 0.7% in the 2nd quarter. Graybill Wealth Management LTD. now owns 67,986 shares of the financial services provider’s stock valued at $2,686,000 after acquiring an additional 505 shares during the period. Hedge funds and other institutional investors own 76.61% of the company’s stock.

NexPoint Residential Trust Trading Down 0.8 %

NYSE:NXRT opened at $46.68 on Tuesday. The stock has a market cap of $1.19 billion, a price-to-earnings ratio of 26.67, a price-to-earnings-growth ratio of 2.82 and a beta of 1.40. NexPoint Residential Trust, Inc. has a one year low of $28.20 and a one year high of $48.37. The company has a debt-to-equity ratio of 3.25, a quick ratio of 1.79 and a current ratio of 1.79. The business’s 50-day simple moving average is $44.35 and its 200 day simple moving average is $42.44.

NexPoint Residential Trust (NYSE:NXRT) last released its earnings results on Tuesday, October 29th. The financial services provider reported ($0.35) EPS for the quarter, missing the consensus estimate of $0.66 by ($1.01). The business had revenue of $64.10 million for 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 last year, the company posted $0.76 earnings per share. As a group, sell-side analysts predict that NexPoint Residential Trust, Inc. will post 2.78 earnings per share for the current fiscal year.

NexPoint Residential Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be given a dividend of $0.51 per share. This is a boost from NexPoint Residential Trust’s previous quarterly dividend of $0.46. The ex-dividend date is Friday, December 13th. This represents a $2.04 annualized dividend and a dividend yield of 4.37%. NexPoint Residential Trust’s dividend payout ratio (DPR) is presently 105.71%.

Analysts Set New Price Targets

NXRT has been the subject of a number of research reports. Raymond James raised 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. 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 research note on Tuesday, August 27th. Deutsche Bank Aktiengesellschaft raised their target price on NexPoint Residential Trust from $38.00 to $44.00 and gave the company a “hold” rating in a report on Tuesday, September 10th. Finally, StockNews.com upgraded NexPoint Residential Trust from a “sell” rating to a “hold” rating in a report on Tuesday, November 19th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average 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.