Principal Financial Group Inc. Purchases 3,207 Shares of NexPoint Residential Trust, Inc. (NYSE:NXRT)

Principal Financial Group Inc. boosted its position in NexPoint Residential Trust, Inc. (NYSE:NXRT) by 2.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 120,512 shares of the financial services provider’s stock after acquiring an additional 3,207 shares during the quarter. Principal Financial Group Inc. owned 0.47% of NexPoint Residential Trust worth $4,764,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of NXRT. Nexpoint Asset Management L.P. raised its stake in NexPoint Residential Trust by 100.0% during the 4th quarter. Nexpoint Asset Management L.P. now owns 1,562,753 shares of the financial services provider’s stock valued at $65,245,000 after buying an additional 781,266 shares during the last quarter. Northern Trust Corp increased its holdings in NexPoint Residential Trust by 18.6% in the 4th quarter. Northern Trust Corp now owns 435,981 shares of the financial services provider’s stock valued at $18,202,000 after acquiring an additional 68,471 shares during the last quarter. Deutsche Bank AG boosted its position in shares of NexPoint Residential Trust by 2.6% during the 4th quarter. Deutsche Bank AG now owns 381,537 shares of the financial services provider’s stock valued at $15,929,000 after acquiring an additional 9,754 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in NexPoint Residential Trust by 1.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 338,512 shares of the financial services provider’s stock worth $14,133,000 after acquiring an additional 5,832 shares in the last quarter. Finally, Millennium Management LLC lifted its holdings in shares of NexPoint Residential Trust by 194.3% in the 4th quarter. Millennium Management LLC now owns 284,292 shares of the financial services provider’s stock worth $11,869,000 after acquiring an additional 187,680 shares during the last quarter. 76.61% of the stock is owned by institutional investors.

Insider Transactions at NexPoint Residential Trust

In related news, insider Paul Richards bought 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 25th. The stock was purchased at an average cost of $32.92 per share, for a total transaction of $164,600.00. Following the purchase, the insider directly owned 24,689 shares in the company, valued at $812,761.88. This trade represents a 25.39% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 15.36% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

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

NexPoint Residential Trust Price Performance

Shares of NYSE NXRT opened at $34.35 on Friday. The company has a debt-to-equity ratio of 3.86, a current ratio of 2.65 and a quick ratio of 2.65. The business’s fifty day moving average price is $34.26 and its two-hundred day moving average price is $37.12. The firm has a market capitalization of $868.42 million, a PE ratio of -26.84, a P/E/G ratio of 2.04 and a beta of 1.06. NexPoint Residential Trust, Inc. has a 1-year low of $30.98 and a 1-year high of $48.37.

NexPoint Residential Trust (NYSE:NXRT) last announced its quarterly earnings data on Tuesday, April 29th. The financial services provider reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.06. The company had revenue of $63.22 million during the quarter, compared to the consensus estimate of $63.29 million. NexPoint Residential Trust had a negative return on equity of 7.42% and a negative net margin of 12.57%. On average, research analysts expect that NexPoint Residential Trust, Inc. will post 2.86 EPS for the current year.

NexPoint Residential Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 5.94%. The ex-dividend date of this dividend was Monday, June 16th. NexPoint Residential Trust’s dividend payout ratio is -159.38%.

About NexPoint Residential Trust

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.