Virtus Investment Advisers Inc. Takes $735,000 Position in NexPoint Residential Trust, Inc. (NYSE:NXRT)

Virtus Investment Advisers Inc. acquired a new position in NexPoint Residential Trust, Inc. (NYSE:NXRT - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 16,700 shares of the financial services provider's stock, valued at approximately $735,000. Virtus Investment Advisers Inc. owned about 0.07% of NexPoint Residential Trust as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Long Pond Capital LP acquired a new stake in NexPoint Residential Trust in the second quarter worth about $24,273,000. Dimensional Fund Advisors LP raised its position in shares of 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 last quarter. Charles Schwab Investment Management Inc. raised its position in shares of NexPoint Residential Trust by 2.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 332,680 shares of the financial services provider's stock valued at $14,641,000 after purchasing an additional 8,795 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in NexPoint Residential Trust by 4.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 244,264 shares of the financial services provider's stock worth $9,651,000 after purchasing an additional 9,297 shares in the last quarter. Finally, BOKF NA grew its position in NexPoint Residential Trust by 0.4% during the 2nd quarter. BOKF NA now owns 177,320 shares of the financial services provider's stock worth $7,006,000 after purchasing an additional 741 shares during the last quarter. Institutional investors own 76.61% of the company's stock.

NexPoint Residential Trust Stock Performance

Shares of NYSE NXRT traded up $0.12 during trading on Friday, reaching $46.14. 66,789 shares of the company traded hands, compared to its average volume of 97,584. NexPoint Residential Trust, Inc. has a 12-month low of $28.20 and a 12-month 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 stock has a market cap of $1.17 billion, a P/E ratio of 26.37, a PEG ratio of 2.81 and a beta of 1.40. The firm's fifty day simple moving average is $44.52 and its 200 day simple moving average is $42.64.

NexPoint Residential Trust (NYSE:NXRT - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The financial services provider reported ($0.35) earnings per share (EPS) 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 period in the previous year, the firm posted $0.76 earnings per share. As a group, research 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 declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 4.42%. The ex-dividend date of this dividend is Friday, December 13th. This is a positive change from NexPoint Residential Trust's previous quarterly dividend of $0.46. NexPoint Residential Trust's dividend payout ratio (DPR) is currently 105.71%.

Analysts Set New Price Targets

A number of research firms have issued reports on NXRT. StockNews.com cut shares of NexPoint Residential Trust from a "hold" rating to a "sell" rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft raised their target price on NexPoint Residential Trust from $38.00 to $44.00 and gave the stock a "hold" rating in a research note on Tuesday, September 10th. Raymond James upgraded NexPoint Residential Trust from a "market perform" rating to an "outperform" rating and set a $50.00 price target on the stock in a research note on Monday, October 21st. Finally, Truist Financial raised their price objective 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. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average 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.