NexPoint Residential Trust, Inc. (NYSE:NXRT) Position Boosted by Principal Financial Group Inc.

Principal Financial Group Inc. raised its holdings in shares of NexPoint Residential Trust, Inc. (NYSE:NXRTFree Report) by 6.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 127,067 shares of the financial services provider’s stock after acquiring an additional 8,022 shares during the quarter. Principal Financial Group Inc. owned approximately 0.49% of NexPoint Residential Trust worth $4,090,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of NXRT. Pasadena Private Wealth LLC acquired a new stake in NexPoint Residential Trust during the fourth quarter worth $1,428,000. Burford Brothers Inc. acquired a new position in shares of NexPoint Residential Trust during the 4th quarter worth about $855,000. Louisiana State Employees Retirement System acquired a new position in shares of NexPoint Residential Trust during the 4th quarter worth about $401,000. Strs Ohio grew its position in shares of NexPoint Residential Trust by 61.4% during the 4th quarter. Strs Ohio now owns 125,900 shares of the financial services provider’s stock worth $4,334,000 after buying an additional 47,900 shares during the period. Finally, Federated Hermes Inc. grew its position in shares of NexPoint Residential Trust by 12.3% in the 4th quarter. Federated Hermes Inc. now owns 8,059 shares of the financial services provider’s stock valued at $277,000 after purchasing an additional 884 shares during the period. Hedge funds and other institutional investors own 76.61% of the company’s stock.

NexPoint Residential Trust Stock Down 0.5 %

NXRT opened at $38.43 on Friday. NexPoint Residential Trust, Inc. has a 1-year low of $26.21 and a 1-year high of $49.87. The stock’s fifty day simple moving average is $36.82 and its 200 day simple moving average is $33.46. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 2.90. The stock has a market cap of $986.50 million, a PE ratio of 13.58, a price-to-earnings-growth ratio of 1.14 and a beta of 1.35.

NexPoint Residential Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were issued a $0.4624 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 4.81%. This is a positive change from NexPoint Residential Trust’s previous quarterly dividend of $0.46. The ex-dividend date was Friday, June 14th. NexPoint Residential Trust’s dividend payout ratio is currently 65.37%.

Insider Buying and Selling at NexPoint Residential Trust

In other NexPoint Residential Trust news, insider Brian Mitts sold 2,000 shares of the company’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $39.40, for a total value of $78,800.00. Following the transaction, the insider now directly owns 65,696 shares of the company’s stock, valued at approximately $2,588,422.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 12.96% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on NXRT. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $38.00 target price on shares of NexPoint Residential Trust in a research note on Tuesday, June 11th. Truist Financial upped their price objective on NexPoint Residential Trust from $34.00 to $37.00 and gave the stock a “hold” rating in a research note on Monday, June 24th. Finally, Raymond James upgraded NexPoint Residential Trust from an “underperform” rating to a “market perform” rating in a research note on Friday, May 24th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, NexPoint Residential Trust presently has an average rating of “Hold” and an average price target of $37.75.

View Our Latest Analysis on NexPoint Residential Trust

NexPoint Residential Trust Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for NexPoint Residential Trust (NYSE:NXRT)

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