Principal Financial Group Inc. Sells 9,219 Shares of NexPoint Residential Trust, Inc. (NYSE:NXRT)

Principal Financial Group Inc. reduced its holdings in shares of NexPoint Residential Trust, Inc. (NYSE:NXRT) by 7.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 113,156 shares of the financial services provider’s stock after selling 9,219 shares during the quarter. Principal Financial Group Inc. owned approximately 0.45% of NexPoint Residential Trust worth $4,980,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Valley Wealth Managers Inc. bought a new position in NexPoint Residential Trust in the 3rd quarter valued at about $27,000. Point72 DIFC Ltd bought a new position in shares of NexPoint Residential Trust during the second quarter worth approximately $32,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in NexPoint Residential Trust by 34.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 900 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 232 shares during the last quarter. Signaturefd LLC boosted its stake in NexPoint Residential Trust by 238.4% in the 2nd 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 in the 3rd quarter valued at $42,000. 76.61% of the stock is owned by institutional investors and hedge funds.

NexPoint Residential Trust Trading Down 1.7 %

Shares of NexPoint Residential Trust stock opened at $41.02 on Friday. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 3.25. NexPoint Residential Trust, Inc. has a 12-month low of $28.20 and a 12-month high of $48.37. The company has a market capitalization of $1.04 billion, a price-to-earnings ratio of 23.44, a PEG ratio of 2.69 and a beta of 1.40. The firm’s 50-day moving average price is $44.45 and its two-hundred day moving average price is $43.46.

NexPoint Residential Trust (NYSE:NXRT) last issued its quarterly earnings results 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 return on equity of 9.54% and a net margin of 17.54%. The firm had revenue of $64.10 million for the quarter, compared to the consensus estimate of $64.69 million. During the same period last year, the company posted $0.76 EPS. On average, 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 declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were paid a $0.51 dividend. This is a positive change from NexPoint Residential Trust’s previous quarterly dividend of $0.46. The ex-dividend date was Friday, December 13th. This represents a $2.04 annualized dividend and a dividend yield of 4.97%. NexPoint Residential Trust’s dividend payout ratio (DPR) is presently 116.57%.

Analyst Ratings Changes

NXRT has been the subject of a number of recent research reports. StockNews.com raised shares of NexPoint Residential Trust from a “sell” rating to a “hold” rating in a research report on Saturday, December 28th. Raymond James upgraded shares of NexPoint Residential Trust from a “market perform” rating to an “outperform” rating and set a $50.00 target price on the stock in a research report on Monday, October 21st. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of NexPoint Residential Trust from $38.00 to $44.00 and gave the company a “hold” rating in a research report on Tuesday, September 10th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $49.00.

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.