Narwhal Capital Management Has $2.73 Million Stock Holdings in NexPoint Residential Trust, Inc. (NYSE:NXRT)

Narwhal Capital Management raised its holdings in NexPoint Residential Trust, Inc. (NYSE:NXRT) by 8.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 62,089 shares of the financial services provider’s stock after buying an additional 4,738 shares during the quarter. Narwhal Capital Management owned 0.24% of NexPoint Residential Trust worth $2,733,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of NXRT. Graybill Wealth Management LTD. lifted its stake in shares of NexPoint Residential Trust by 1.1% in the third quarter. Graybill Wealth Management LTD. now owns 68,714 shares of the financial services provider’s stock valued at $3,024,000 after buying an additional 728 shares during the period. Creative Planning raised its holdings in NexPoint Residential Trust by 3.0% in the 3rd quarter. Creative Planning now owns 11,785 shares of the financial services provider’s stock valued at $519,000 after acquiring an additional 341 shares in the last quarter. Inspire Investing LLC lifted its position in shares of NexPoint Residential Trust by 23.8% in the 3rd quarter. Inspire Investing LLC now owns 11,070 shares of the financial services provider’s stock worth $487,000 after acquiring an additional 2,129 shares during the period. SG Americas Securities LLC grew its holdings in shares of NexPoint Residential Trust by 58.0% during the 3rd quarter. SG Americas Securities LLC now owns 15,670 shares of the financial services provider’s stock worth $690,000 after purchasing an additional 5,751 shares in the last quarter. Finally, Point72 DIFC Ltd bought a new stake in shares of NexPoint Residential Trust during the second quarter valued at approximately $32,000. 76.61% of the stock is owned by institutional investors.

NexPoint Residential Trust Stock Up 0.1 %

Shares of NXRT opened at $44.11 on Wednesday. The company has a market capitalization of $1.12 billion, a P/E ratio of 13.05, a PEG ratio of 1.34 and a beta of 1.37. NexPoint Residential Trust, Inc. has a one year low of $26.21 and a one year high of $48.37. The business’s 50 day simple moving average is $44.77 and its 200-day simple moving average is $40.15. The company has a debt-to-equity ratio of 2.96, a current ratio of 2.00 and a quick ratio of 2.00.

NexPoint Residential Trust (NYSE:NXRT) last posted its quarterly earnings data on Tuesday, July 30th. The financial services provider reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.29). NexPoint Residential Trust had a return on equity of 17.69% and a net margin of 32.93%. The business had revenue of $64.24 million during the quarter, compared to analyst estimates of $64.99 million. During the same period in the prior year, the firm posted $0.88 EPS. As a group, sell-side analysts predict that NexPoint Residential Trust, Inc. will post 2.82 EPS for the current fiscal year.

NexPoint Residential Trust Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were paid a $0.462 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date was Friday, September 13th. NexPoint Residential Trust’s dividend payout ratio is presently 54.73%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Compass Point lifted their price target on shares of NexPoint Residential Trust from $45.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Truist Financial increased their price target on shares of NexPoint Residential Trust from $37.00 to $46.00 and gave the stock a “hold” rating in a research report on Tuesday, August 27th. Raymond James raised NexPoint Residential Trust from a “market perform” rating to an “outperform” rating and set a $50.00 price objective on the stock in a report on Monday. JMP Securities increased their target price on NexPoint Residential Trust from $40.00 to $50.00 and gave the stock a “market outperform” rating in a report on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on NexPoint Residential Trust from $38.00 to $44.00 and gave the company a “hold” rating in a research note on Tuesday, September 10th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, NexPoint Residential Trust has a consensus rating of “Hold” and an average price target of $46.83.

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.