NexPoint Residential Trust, Inc. (NYSE:NXRT) Shares Acquired by Summit Global Investments

Summit Global Investments lifted its stake in shares of NexPoint Residential Trust, Inc. (NYSE:NXRT) by 33.7% during the fourth quarter, Holdings Channel reports. The fund owned 12,966 shares of the financial services provider’s stock after acquiring an additional 3,269 shares during the period. Summit Global Investments’ holdings in NexPoint Residential Trust were worth $541,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in NexPoint Residential Trust by 35.7% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 11,941 shares of the financial services provider’s stock valued at $499,000 after acquiring an additional 3,139 shares in the last quarter. Teacher Retirement System of Texas raised its holdings in shares of NexPoint Residential Trust by 226.0% in the 4th quarter. Teacher Retirement System of Texas now owns 22,249 shares of the financial services provider’s stock valued at $929,000 after purchasing an additional 15,425 shares in the last quarter. Picton Mahoney Asset Management lifted its position in shares of NexPoint Residential Trust by 44.2% during the 4th quarter. Picton Mahoney Asset Management now owns 11,875 shares of the financial services provider’s stock worth $496,000 after purchasing an additional 3,641 shares during the last quarter. AlphaQuest LLC grew its stake in shares of NexPoint Residential Trust by 870.0% during the fourth quarter. AlphaQuest LLC now owns 10,175 shares of the financial services provider’s stock worth $425,000 after purchasing an additional 9,126 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in NexPoint Residential Trust in the fourth quarter valued at $575,000. 76.61% of the stock is currently owned by institutional investors and hedge funds.

NexPoint Residential Trust Price Performance

Shares of NYSE NXRT opened at $38.96 on Tuesday. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 3.25. The stock has a market cap of $992.10 million, a P/E ratio of 22.26, a P/E/G ratio of 2.34 and a beta of 1.43. The stock has a 50 day moving average of $39.64 and a two-hundred day moving average of $42.44. NexPoint Residential Trust, Inc. has a twelve month low of $30.02 and a twelve month high of $48.37.

NexPoint Residential Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 5.24%. The ex-dividend date is Friday, March 14th. NexPoint Residential Trust’s dividend payout ratio is currently -20,400.00%.

Analysts Set New Price Targets

Several research firms have recently issued reports on NXRT. Jefferies Financial Group upped their price objective on NexPoint Residential Trust from $41.00 to $43.00 and gave the stock a “hold” rating in a research report on Monday, March 10th. StockNews.com downgraded NexPoint Residential Trust from a “hold” rating to a “sell” rating in a report on Saturday, March 1st. Truist Financial raised their price objective on shares of NexPoint Residential Trust from $41.00 to $42.00 and gave the stock a “hold” rating in a report on Monday, March 10th. Finally, Raymond James lowered their target price on shares of NexPoint Residential Trust from $50.00 to $44.00 and set an “outperform” rating for the company in a report on Thursday, March 20th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, NexPoint Residential Trust currently has a consensus rating of “Hold” and an average price target of $46.33.

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.