NexPoint Residential Trust, Inc. (NYSE:NXRT) Shares Sold by State Street Corp

State Street Corp lessened its stake in shares of NexPoint Residential Trust, Inc. (NYSE:NXRT - Free Report) by 1.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,322,142 shares of the financial services provider's stock after selling 23,882 shares during the quarter. State Street Corp owned approximately 5.21% of NexPoint Residential Trust worth $58,187,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Valley Wealth Managers Inc. acquired a new position in NexPoint Residential Trust in the third quarter valued at $27,000. Point72 DIFC Ltd purchased a new position in shares of NexPoint Residential Trust during the 2nd quarter worth about $32,000. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of NexPoint Residential Trust by 34.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 900 shares of the financial services provider's stock worth $39,000 after acquiring an additional 232 shares during the last quarter. Signaturefd LLC grew its holdings in NexPoint Residential Trust by 238.4% in the second quarter. Signaturefd LLC now owns 1,039 shares of the financial services provider's stock valued at $41,000 after purchasing an additional 732 shares during the period. Finally, Meeder Asset Management Inc. acquired a new position in NexPoint Residential Trust during the third quarter worth approximately $42,000. Institutional investors and hedge funds own 76.61% of the company's stock.

NexPoint Residential Trust Stock Down 2.0 %

Shares of NXRT traded down $0.83 during mid-day trading on Thursday, reaching $41.64. 112,352 shares of the stock traded hands, compared to its average volume of 136,844. The stock has a fifty day simple moving average of $44.88 and a 200 day simple moving average of $43.19. NexPoint Residential Trust, Inc. has a 12-month low of $28.20 and a 12-month high of $48.37. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 3.25. The firm has a market cap of $1.06 billion, a price-to-earnings ratio of 23.79, a P/E/G ratio of 2.69 and a beta of 1.40.

NexPoint Residential Trust (NYSE:NXRT - Get Free Report) 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). NexPoint Residential Trust had a net margin of 17.54% and a return on equity of 9.54%. The firm had revenue of $64.10 million during the quarter, compared to analysts' expectations of $64.69 million. During the same period in the previous year, the company earned $0.76 earnings per share. Sell-side analysts expect that NexPoint Residential Trust, Inc. will post 2.78 EPS 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. Shareholders of record on Friday, December 13th will be given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 4.90%. 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. NexPoint Residential Trust's dividend payout ratio is presently 105.71%.

Analysts Set New Price Targets

NXRT has been the subject of several research reports. Truist Financial boosted 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. Deutsche Bank Aktiengesellschaft raised their price objective on NexPoint Residential Trust from $38.00 to $44.00 and gave the stock a "hold" rating in a report on Tuesday, September 10th. Raymond James raised shares of NexPoint Residential Trust from a "market perform" rating to an "outperform" rating and set a $50.00 target price for the company in a research report on Monday, October 21st. Finally, StockNews.com upgraded shares of NexPoint Residential Trust from a "sell" rating to a "hold" rating in a research note on Thursday, December 12th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, NexPoint Residential Trust has a consensus rating of "Hold" and a consensus target price of $46.83.

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.