Valley Wealth Managers Inc. Invests $27,000 in NexPoint Residential Trust, Inc. (NYSE:NXRT)

Valley Wealth Managers Inc. bought a new position in NexPoint Residential Trust, Inc. (NYSE:NXRT) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 608 shares of the financial services provider’s stock, valued at approximately $27,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of NexPoint Residential Trust by 34.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 900 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 232 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of NexPoint Residential Trust by 7.3% in the 2nd quarter. Van ECK Associates Corp now owns 3,473 shares of the financial services provider’s stock valued at $137,000 after buying an additional 236 shares during the period. Creative Planning raised its position in shares of NexPoint Residential Trust by 3.0% during the third quarter. Creative Planning now owns 11,785 shares of the financial services provider’s stock worth $519,000 after acquiring an additional 341 shares during the last quarter. Federated Hermes Inc. lifted its stake in shares of NexPoint Residential Trust by 4.1% during the second quarter. Federated Hermes Inc. now owns 9,094 shares of the financial services provider’s stock valued at $359,000 after acquiring an additional 359 shares during the period. Finally, CANADA LIFE ASSURANCE Co boosted its holdings in NexPoint Residential Trust by 1.0% in the first quarter. CANADA LIFE ASSURANCE Co now owns 47,286 shares of the financial services provider’s stock valued at $1,521,000 after acquiring an additional 477 shares during the last quarter. 76.61% of the stock is owned by institutional investors and hedge funds.

NexPoint Residential Trust Price Performance

Shares of NYSE NXRT opened at $45.55 on Friday. The company has a fifty day moving average price of $44.10 and a 200 day moving average price of $41.48. The firm has a market cap of $1.16 billion, a PE ratio of 26.03, a PEG ratio of 1.53 and a beta of 1.37. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 3.25. NexPoint Residential Trust, Inc. has a 1-year low of $28.20 and a 1-year high of $48.37.

NexPoint Residential Trust (NYSE:NXRT) last issued its quarterly earnings results on Tuesday, October 29th. The financial services provider reported ($0.35) EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($1.01). The firm had revenue of $64.10 million during the quarter, compared to the consensus estimate of $64.69 million. NexPoint Residential Trust had a net margin of 17.54% and a return on equity of 9.54%. During the same quarter last year, the firm earned $0.76 earnings per share. Research analysts predict that NexPoint Residential Trust, Inc. will post 2.78 earnings per share for the current fiscal year.

NexPoint Residential Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be paid a $0.51 dividend. This is a positive change from NexPoint Residential Trust’s previous quarterly dividend of $0.46. This represents a $2.04 annualized dividend and a yield of 4.48%. The ex-dividend date is Friday, December 13th. NexPoint Residential Trust’s payout ratio is presently 105.71%.

Analyst Ratings Changes

Several analysts have weighed in on NXRT shares. StockNews.com cut NexPoint Residential Trust from a “hold” rating to a “sell” rating in a report on Monday, November 11th. JMP Securities boosted their price target on shares of NexPoint Residential Trust from $40.00 to $50.00 and gave the stock a “market outperform” rating in a research note on Friday, August 2nd. Deutsche Bank Aktiengesellschaft raised their price objective on shares of NexPoint Residential Trust from $38.00 to $44.00 and gave the company a “hold” rating in a research note on Tuesday, September 10th. Truist Financial upped their target price on shares of NexPoint Residential Trust from $37.00 to $46.00 and gave the company a “hold” rating in a research report on Tuesday, August 27th. Finally, Compass Point raised their price target on NexPoint Residential Trust from $45.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $46.83.

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.