State of New Jersey Common Pension Fund D Decreases Position in NexPoint Residential Trust, Inc. (NYSE:NXRT)

State of New Jersey Common Pension Fund D lowered its stake in NexPoint Residential Trust, Inc. (NYSE:NXRT - Free Report) by 15.0% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 165,427 shares of the financial services provider's stock after selling 29,216 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.65% of NexPoint Residential Trust worth $7,280,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Allspring Global Investments Holdings LLC lifted its stake in NexPoint Residential Trust by 9.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,847 shares of the financial services provider's stock valued at $349,000 after purchasing an additional 914 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in NexPoint Residential Trust by 6.7% in the 1st quarter. BNP Paribas Financial Markets now owns 31,164 shares of the financial services provider's stock valued at $1,003,000 after purchasing an additional 1,955 shares during the last quarter. Sei Investments Co. raised its stake in shares of NexPoint Residential Trust by 11.2% during the first quarter. Sei Investments Co. now owns 27,921 shares of the financial services provider's stock valued at $899,000 after acquiring an additional 2,803 shares during the last quarter. Russell Investments Group Ltd. raised its stake in shares of NexPoint Residential Trust by 4.0% during the first quarter. Russell Investments Group Ltd. now owns 47,511 shares of the financial services provider's stock valued at $1,529,000 after acquiring an additional 1,815 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System raised its stake in shares of NexPoint Residential Trust by 53.1% during the first quarter. State Board of Administration of Florida Retirement System now owns 9,860 shares of the financial services provider's stock valued at $317,000 after acquiring an additional 3,420 shares during the last quarter. Institutional investors and hedge funds own 76.61% of the company's stock.

NexPoint Residential Trust Price Performance

Shares of NXRT stock traded down $0.75 on Tuesday, reaching $45.78. The company's stock had a trading volume of 55,966 shares, compared to its average volume of 141,017. The stock's fifty day simple moving average is $44.14 and its 200-day simple moving average is $41.15. NexPoint Residential Trust, Inc. has a 1 year low of $28.20 and a 1 year high of $48.37. 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 company has a market capitalization of $1.16 billion, a price-to-earnings ratio of 26.57, a price-to-earnings-growth ratio of 1.40 and a beta of 1.37.

NexPoint Residential Trust (NYSE:NXRT - Get Free Report) last released its earnings results 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). The business had revenue of $64.10 million for the quarter, compared to the consensus estimate of $64.69 million. NexPoint Residential Trust had a return on equity of 9.54% and a net margin of 17.54%. During the same quarter last year, the business posted $0.76 earnings per share. Analysts forecast that NexPoint Residential Trust, Inc. will post 2.78 earnings per share for the current fiscal year.

NexPoint Residential Trust Increases Dividend

The firm also recently announced 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 positive change from NexPoint Residential Trust's previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Friday, December 13th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 4.46%. NexPoint Residential Trust's dividend payout ratio (DPR) is 105.71%.

Analyst Upgrades and Downgrades

NXRT has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft raised their price target on shares of NexPoint Residential Trust from $38.00 to $44.00 and gave the stock a "hold" rating in a report on Tuesday, September 10th. JMP Securities boosted 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 lowered shares of NexPoint Residential Trust from a "hold" rating to a "sell" rating in a report on Monday. 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 report on Monday, October 21st. Finally, Compass Point upped their price objective on shares of NexPoint Residential Trust from $45.00 to $55.00 and gave the stock a "buy" rating in a report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target 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.