State of New Jersey Common Pension Fund D boosted its stake in shares of NexPoint Residential Trust Inc (NASDAQ:NXRT) by 22.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 107,500 shares of the company’s stock after purchasing an additional 20,000 shares during the period. State of New Jersey Common Pension Fund D owned about 0.51% of NexPoint Residential Trust worth $2,551,000 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 stock. Vanguard Group Inc. lifted its position in NexPoint Residential Trust by 7.1% during the first quarter. Vanguard Group Inc. now owns 2,015,961 shares of the company’s stock valued at $48,706,000 after purchasing an additional 134,077 shares in the last quarter. Renaissance Technologies LLC lifted its position in NexPoint Residential Trust by 19.8% during the second quarter. Renaissance Technologies LLC now owns 780,100 shares of the company’s stock valued at $19,417,000 after purchasing an additional 129,000 shares in the last quarter. State Street Corp lifted its position in NexPoint Residential Trust by 4.9% during the second quarter. State Street Corp now owns 548,705 shares of the company’s stock valued at $13,653,000 after purchasing an additional 25,552 shares in the last quarter. Numeric Investors LLC lifted its position in NexPoint Residential Trust by 61.0% during the second quarter. Numeric Investors LLC now owns 547,597 shares of the company’s stock valued at $13,630,000 after purchasing an additional 207,460 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in NexPoint Residential Trust by 44.7% during the second quarter. Principal Financial Group Inc. now owns 300,434 shares of the company’s stock valued at $7,478,000 after purchasing an additional 92,818 shares in the last quarter.
NexPoint Residential Trust (NASDAQ:NXRT) last posted its quarterly earnings results on Tuesday, August 1st. The company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.02). NexPoint Residential Trust had a net margin of 28.18% and a return on equity of 14.15%. The business had revenue of $35.23 million during the quarter, compared to analysts’ expectations of $35.95 million. During the same period in the previous year, the company posted $0.37 earnings per share. NexPoint Residential Trust’s revenue for the quarter was up 4.7% compared to the same quarter last year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be paid a dividend of $0.25 per share. This is a positive change from NexPoint Residential Trust’s previous quarterly dividend of $0.22. This represents a $1.00 annualized dividend and a dividend yield of Infinity. The ex-dividend date is Thursday, December 14th.
In other news, insider James D. Dondero bought 1,100 shares of the stock in a transaction dated Tuesday, October 10th. The shares were acquired at an average cost of $23.37 per share, with a total value of $25,707.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider James D. Dondero bought 2,000 shares of the stock in a transaction dated Friday, August 11th. The shares were purchased at an average cost of $23.30 per share, for a total transaction of $46,600.00. Following the completion of the purchase, the insider now owns 30,725 shares in the company, valued at $715,892.50. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 16,700 shares of company stock worth $395,793.
NXRT has been the topic of several analyst reports. Ladenburg Thalmann Financial Services reiterated a “buy” rating on shares of NexPoint Residential Trust in a research report on Wednesday, August 2nd. Zacks Investment Research downgraded NexPoint Residential Trust from a “hold” rating to a “sell” rating in a research report on Friday. Canaccord Genuity set a $28.00 target price on NexPoint Residential Trust and gave the company a “buy” rating in a research report on Tuesday, August 1st. B. Riley reiterated a “buy” rating and set a $28.00 target price (up from $27.00) on shares of NexPoint Residential Trust in a research report on Thursday. Finally, FBR & Co initiated coverage on NexPoint Residential Trust in a research report on Thursday, October 26th. They set a “buy” rating and a $27.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $27.75.
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About NexPoint Residential Trust
NexPoint Residential Trust, Inc is an externally managed real estate investment trust (REIT). The Company’s investment objectives are to maximize the cash flow and value of properties owned, acquire properties with cash flow growth potential, provide quarterly cash distributions and achieve long-term capital appreciation for its stockholders through targeted management and a value-add program.
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