State of New Jersey Common Pension Fund D Increases Stake in NexPoint Residential Trust, Inc. (NYSE:NXRT)

State of New Jersey Common Pension Fund D raised its position in NexPoint Residential Trust, Inc. (NYSE:NXRT) by 5.3% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 290,822 shares of the financial services provider’s stock after purchasing an additional 14,659 shares during the period. State of New Jersey Common Pension Fund D owned 1.13% of NexPoint Residential Trust worth $10,013,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Schnieders Capital Management LLC lifted its holdings in NexPoint Residential Trust by 74.0% in the 4th quarter. Schnieders Capital Management LLC now owns 11,525 shares of the financial services provider’s stock valued at $397,000 after purchasing an additional 4,900 shares in the last quarter. Illinois Municipal Retirement Fund acquired a new stake in shares of NexPoint Residential Trust in the 4th quarter worth $457,000. Federated Hermes Inc. increased its stake 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 worth $277,000 after acquiring an additional 884 shares during the last quarter. Strs Ohio increased its stake in shares of NexPoint Residential Trust by 61.4% in the 4th quarter. Strs Ohio now owns 125,900 shares of the financial services provider’s stock worth $4,334,000 after acquiring an additional 47,900 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of NexPoint Residential Trust by 8.6% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 26,797 shares of the financial services provider’s stock worth $923,000 after acquiring an additional 2,125 shares during the last quarter. Hedge funds and other institutional investors own 76.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on NXRT shares. Truist Financial cut their target price on NexPoint Residential Trust from $37.00 to $35.00 and set a “hold” rating for the company in a research note on Tuesday, April 9th. JMP Securities reaffirmed a “market outperform” rating and issued a $40.00 target price on shares of NexPoint Residential Trust in a research note on Wednesday, March 6th. Deutsche Bank Aktiengesellschaft started coverage on NexPoint Residential Trust in a research report on Tuesday, January 30th. They set a “buy” rating and a $38.00 price objective for the company. Finally, Raymond James downgraded NexPoint Residential Trust from a “market perform” rating to an “underperform” rating in a research report on Monday, March 18th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $37.25.

NexPoint Residential Trust Trading Down 1.4 %

NYSE NXRT traded down $0.45 during trading on Thursday, hitting $32.85. The stock had a trading volume of 103,337 shares, compared to its average volume of 156,113. The company has a market capitalization of $846.54 million, a PE ratio of 19.55, a PEG ratio of 1.00 and a beta of 1.28. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 3.16. The firm has a 50 day moving average price of $30.80 and a 200 day moving average price of $31.31. NexPoint Residential Trust, Inc. has a twelve month low of $26.21 and a twelve month high of $49.87.

NexPoint Residential Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were given a $0.462 dividend. This represents a $1.85 annualized dividend and a yield of 5.63%. The ex-dividend date was Thursday, March 14th. NexPoint Residential Trust’s dividend payout ratio is currently 110.12%.

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.