California State Teachers Retirement System Reduces Stock Position in NexPoint Residential Trust, Inc. (NYSE:NXRT)

California State Teachers Retirement System cut its stake in NexPoint Residential Trust, Inc. (NYSE:NXRT) by 2.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,346 shares of the financial services provider’s stock after selling 552 shares during the period. California State Teachers Retirement System owned approximately 0.08% of NexPoint Residential Trust worth $891,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC increased its stake in shares of NexPoint Residential Trust by 104.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 894 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 456 shares in the last quarter. Johnson Financial Group Inc. purchased a new position in shares of NexPoint Residential Trust during the 4th quarter worth approximately $35,000. Meeder Asset Management Inc. increased its stake in shares of NexPoint Residential Trust by 158.3% during the 4th quarter. Meeder Asset Management Inc. now owns 2,462 shares of the financial services provider’s stock worth $103,000 after purchasing an additional 1,509 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of NexPoint Residential Trust by 8.6% during the 4th quarter. Van ECK Associates Corp now owns 4,237 shares of the financial services provider’s stock worth $177,000 after purchasing an additional 336 shares in the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of NexPoint Residential Trust during the 4th quarter worth approximately $211,000. 76.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on NXRT shares. Raymond James lowered shares of NexPoint Residential Trust from an “outperform” rating to a “market perform” rating in a research report on Thursday, May 15th. JMP Securities restated a “market perform” rating on shares of NexPoint Residential Trust in a research report on Monday, May 19th. Truist Financial decreased their target price on shares of NexPoint Residential Trust from $42.00 to $38.00 and set a “hold” rating on the stock in a research report on Thursday, May 29th. Wall Street Zen lowered shares of NexPoint Residential Trust from a “hold” rating to a “sell” rating in a research report on Saturday, March 1st. Finally, Jefferies Financial Group raised their target price on shares of NexPoint Residential Trust from $41.00 to $43.00 and gave the stock a “hold” rating in a research report on Monday, March 10th. One investment analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $43.58.

Insider Activity

In related news, insider Paul Richards purchased 1,000 shares of the firm’s stock in a transaction on Friday, May 23rd. The stock was purchased at an average price of $33.18 per share, for a total transaction of $33,180.00. Following the acquisition, the insider now directly owns 19,869 shares in the company, valued at $659,253.42. The trade was a 5.30% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 15.36% of the company’s stock.

NexPoint Residential Trust Stock Up 0.5%

Shares of NXRT opened at $34.74 on Wednesday. The firm has a market cap of $878.38 million, a PE ratio of 19.85, a price-to-earnings-growth ratio of 2.34 and a beta of 1.08. The company’s fifty day moving average is $35.53 and its two-hundred day moving average is $39.15. NexPoint Residential Trust, Inc. has a fifty-two week low of $30.98 and a fifty-two week 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.

NexPoint Residential Trust (NYSE:NXRT) last announced its quarterly earnings results on Tuesday, April 29th. The financial services provider reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.06. The company had revenue of $63.22 million for the quarter, compared to analyst estimates of $63.29 million. NexPoint Residential Trust had a net margin of 17.54% and a return on equity of 9.54%. Analysts forecast that NexPoint Residential Trust, Inc. will post 2.86 earnings per share for the current year.

NexPoint Residential Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 5.87%. The ex-dividend date of this dividend is Monday, June 16th. NexPoint Residential Trust’s dividend payout ratio is presently -159.37%.

NexPoint Residential Trust 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.