Truist Financial Corp lessened its position in shares of NexPoint Residential Trust, Inc. (NYSE:NXRT – Free Report) by 5.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,708 shares of the financial services provider’s stock after selling 1,376 shares during the quarter. Truist Financial Corp owned about 0.09% of NexPoint Residential Trust worth $1,078,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in the company. Tower Research Capital LLC TRC lifted its stake in NexPoint Residential Trust by 332.8% in the first quarter. Tower Research Capital LLC TRC now owns 844 shares of the financial services provider’s stock valued at $37,000 after buying an additional 649 shares during the period. Quantbot Technologies LP acquired a new position in NexPoint Residential Trust in the second quarter valued at about $60,000. Signaturefd LLC lifted its stake in NexPoint Residential Trust by 59.5% in the first quarter. Signaturefd LLC now owns 1,220 shares of the financial services provider’s stock valued at $53,000 after buying an additional 455 shares during the period. Acadian Asset Management LLC acquired a new position in NexPoint Residential Trust in the first quarter valued at about $117,000. Finally, Ameritas Advisory Services LLC acquired a new position in NexPoint Residential Trust in the first quarter valued at about $61,000. Institutional investors and hedge funds own 78.31% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research firms have weighed in on NXRT. StockNews.com began coverage on NexPoint Residential Trust in a research note on Thursday, October 5th. They issued a “hold” rating on the stock. JMP Securities lowered their price target on NexPoint Residential Trust from $70.00 to $55.00 and set a “market outperform” rating for the company in a report on Wednesday, July 26th. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $50.33.
NexPoint Residential Trust Stock Up 5.1 %
Shares of NexPoint Residential Trust stock opened at $30.05 on Monday. NexPoint Residential Trust, Inc. has a 1 year low of $26.21 and a 1 year high of $52.83. The business has a 50-day moving average of $32.52 and a two-hundred day moving average of $39.10. The company has a market capitalization of $771.38 million, a P/E ratio of 26.59, a price-to-earnings-growth ratio of 1.22 and a beta of 1.20. The company has a debt-to-equity ratio of 3.12, a current ratio of 1.28 and a quick ratio of 1.42.
NexPoint Residential Trust Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be issued a $0.462 dividend. This is an increase from NexPoint Residential Trust’s previous quarterly dividend of $0.42. This represents a $1.85 annualized dividend and a dividend yield of 6.15%. The ex-dividend date is Thursday, December 14th. NexPoint Residential Trust’s dividend payout ratio is 148.67%.
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.
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