Allspring Global Investments Holdings LLC Increases Position in NexPoint Residential Trust, Inc. (NYSE:NXRT)

Allspring Global Investments Holdings LLC lifted its stake in shares of NexPoint Residential Trust, Inc. (NYSE:NXRT) by 53.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,041 shares of the financial services provider’s stock after acquiring an additional 4,217 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in NexPoint Residential Trust were worth $488,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Bank of New York Mellon Corp raised its stake in NexPoint Residential Trust by 2.6% in the fourth quarter. Bank of New York Mellon Corp now owns 221,219 shares of the financial services provider’s stock valued at $9,236,000 after buying an additional 5,618 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of NexPoint Residential Trust by 1.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 338,512 shares of the financial services provider’s stock worth $14,133,000 after buying an additional 5,832 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in shares of NexPoint Residential Trust in the 4th quarter valued at $458,000. Raymond James Financial Inc. purchased a new position in shares of NexPoint Residential Trust in the 4th quarter valued at $575,000. Finally, AlphaQuest LLC raised its stake in NexPoint Residential Trust by 870.0% during the 4th quarter. AlphaQuest LLC now owns 10,175 shares of the financial services provider’s stock worth $425,000 after acquiring an additional 9,126 shares in the last quarter. 76.61% of the stock is currently owned by institutional investors and hedge funds.

NexPoint Residential Trust Stock Up 0.5%

NexPoint Residential Trust stock opened at $34.04 on Friday. The stock has a 50 day moving average of $34.64 and a two-hundred day moving average of $37.39. NexPoint Residential Trust, Inc. has a twelve month low of $30.98 and a twelve month high of $48.37. The stock has a market capitalization of $860.53 million, a price-to-earnings ratio of -26.59, a PEG ratio of 2.01 and a beta of 1.06. The company has a current ratio of 2.65, a quick ratio of 2.65 and a debt-to-equity ratio of 3.86.

NexPoint Residential Trust (NYSE:NXRT) last posted its quarterly earnings data 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 firm had revenue of $63.22 million for the quarter, compared to analyst estimates of $63.29 million. NexPoint Residential Trust had a negative net margin of 12.57% and a negative return on equity of 7.42%. As a group, research analysts expect that NexPoint Residential Trust, Inc. will post 2.86 earnings per share for the current year.

NexPoint Residential Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were issued a dividend of $0.51 per share. The ex-dividend date of this dividend was Monday, June 16th. This represents a $2.04 annualized dividend and a yield of 5.99%. NexPoint Residential Trust’s dividend payout ratio is currently -159.38%.

Insider Buying and Selling

In other NexPoint Residential Trust news, insider Paul Richards bought 5,000 shares of the company’s stock in a transaction on Wednesday, June 25th. The shares were bought at an average price of $32.92 per share, for a total transaction of $164,600.00. Following the transaction, the insider owned 24,689 shares of the company’s stock, valued at approximately $812,761.88. This trade represents a 25.39% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 15.36% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts have issued reports on NXRT shares. Citizens Jmp downgraded shares of NexPoint Residential Trust from an “outperform” rating to a “market perform” rating in a research note on Monday, May 19th. Raymond James Financial cut NexPoint Residential Trust from an “outperform” rating to a “market perform” rating in a research report on Thursday, May 15th. Compass Point restated a “neutral” rating and set a $42.50 price target (down previously from $50.00) on shares of NexPoint Residential Trust in a research note on Tuesday, May 13th. Truist Financial reduced their price objective on NexPoint Residential Trust from $42.00 to $38.00 and set a “hold” rating for the company in a research note on Thursday, May 29th. Finally, JMP Securities reissued a “market perform” rating on shares of NexPoint Residential Trust in a report on Monday, May 19th. One analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. Based on data from MarketBeat.com, NexPoint Residential Trust currently has an average rating of “Hold” and an average target price of $43.58.

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.