144,079 Shares in NexPoint Residential Trust, Inc. (NYSE:NXRT) Purchased by Foundry Partners LLC

Foundry Partners LLC purchased a new stake in NexPoint Residential Trust, Inc. (NYSE:NXRT) during the 3rd quarter, HoldingsChannel.com reports. The fund purchased 144,079 shares of the financial services provider’s stock, valued at approximately $6,341,000.

Other hedge funds have also recently bought and sold shares of the company. Long Pond Capital LP acquired a new position in shares of NexPoint Residential Trust in the second quarter valued at about $24,273,000. Dimensional Fund Advisors LP boosted its holdings in 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 purchasing an additional 23,888 shares during the period. Renaissance Technologies LLC grew its position in shares of NexPoint Residential Trust by 10.5% during the 2nd quarter. Renaissance Technologies LLC now owns 161,713 shares of the financial services provider’s stock worth $6,389,000 after purchasing an additional 15,400 shares in the last quarter. Algert Global LLC increased its holdings in shares of NexPoint Residential Trust by 17.2% during the second quarter. Algert Global LLC now owns 86,003 shares of the financial services provider’s stock worth $3,398,000 after purchasing an additional 12,627 shares during the period. Finally, TCW Group Inc. boosted its stake in shares of NexPoint Residential Trust by 24.4% in the second quarter. TCW Group Inc. now owns 63,826 shares of the financial services provider’s stock valued at $2,522,000 after buying an additional 12,509 shares during the period. 76.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

NexPoint Residential Trust Price Performance

Shares of NXRT opened at $45.77 on Thursday. The business has a 50-day simple moving average of $44.12 and a two-hundred day simple moving average of $41.74. 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 cap of $1.16 billion, a PE ratio of 26.15, a PEG ratio of 1.53 and a beta of 1.37. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 3.25.

NexPoint Residential Trust (NYSE:NXRT) last posted its quarterly earnings data on Tuesday, October 29th. The financial services provider reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($1.01). The company had revenue of $64.10 million during the quarter, compared to analyst estimates 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 previous year, the company earned $0.76 earnings per share. Analysts anticipate 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 announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 4.46%. The ex-dividend date is Friday, December 13th. This is an increase from NexPoint Residential Trust’s previous quarterly dividend of $0.46. NexPoint Residential Trust’s dividend payout ratio (DPR) is currently 105.71%.

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.