Pasadena Private Wealth LLC Raises Position in NexPoint Residential Trust, Inc. (NYSE:NXRT)

Pasadena Private Wealth LLC boosted its stake in NexPoint Residential Trust, Inc. (NYSE:NXRT) by 26.1% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 52,326 shares of the financial services provider’s stock after buying an additional 10,837 shares during the quarter. Pasadena Private Wealth LLC’s holdings in NexPoint Residential Trust were worth $1,684,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of NXRT. Burford Brothers Inc. purchased a new position in shares of NexPoint Residential Trust during the fourth quarter valued at approximately $855,000. Strs Ohio increased its position in shares of NexPoint Residential Trust by 61.4% during the fourth quarter. Strs Ohio now owns 125,900 shares of the financial services provider’s stock valued at $4,334,000 after acquiring an additional 47,900 shares in the last quarter. Louisiana State Employees Retirement System bought a new stake in shares of NexPoint Residential Trust during the fourth quarter valued at approximately $401,000. Federated Hermes Inc. increased its position in shares of NexPoint Residential Trust by 12.3% during the fourth quarter. Federated Hermes Inc. now owns 8,059 shares of the financial services provider’s stock valued at $277,000 after acquiring an additional 884 shares in the last quarter. Finally, AQR Capital Management LLC increased its position in shares of NexPoint Residential Trust by 175.9% during the third quarter. AQR Capital Management LLC now owns 163,547 shares of the financial services provider’s stock valued at $5,263,000 after acquiring an additional 104,270 shares in the last quarter. 76.61% of the stock is currently owned by hedge funds and other institutional investors.

NexPoint Residential Trust Stock Performance

Shares of NXRT stock traded up $0.19 during mid-day trading on Friday, reaching $38.92. 2,918 shares of the company’s stock traded hands, compared to its average volume of 147,317. NexPoint Residential Trust, Inc. has a 12 month low of $26.21 and a 12 month high of $49.87. The firm has a 50 day moving average price of $36.09 and a two-hundred day moving average price of $33.27. The company has a debt-to-equity ratio of 2.90, a quick ratio of 2.66 and a current ratio of 2.66. The firm has a market capitalization of $999.08 million, a PE ratio of 13.69, a price-to-earnings-growth ratio of 1.13 and a beta of 1.33.

NexPoint Residential Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a dividend of $0.4624 per share. This is an increase from NexPoint Residential Trust’s previous quarterly dividend of $0.46. The ex-dividend date is Friday, June 14th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 4.75%. NexPoint Residential Trust’s payout ratio is presently 65.37%.

Insider Activity

In other news, insider Brian Mitts sold 5,000 shares of the business’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $34.25, for a total transaction of $171,250.00. Following the completion of the sale, the insider now owns 66,947 shares of the company’s stock, valued at approximately $2,292,934.75. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 12.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on NXRT shares. Raymond James raised shares of NexPoint Residential Trust from an “underperform” rating to a “market perform” rating in a research report on Friday, May 24th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $38.00 target price on shares of NexPoint Residential Trust in a research report on Tuesday, June 11th. JMP Securities reaffirmed a “market outperform” rating and issued a $40.00 target price on shares of NexPoint Residential Trust in a research report on Wednesday, March 6th. Finally, Truist Financial lifted their target price on shares of NexPoint Residential Trust from $34.00 to $37.00 and gave the stock a “hold” rating in a research report on Monday. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $37.75.

NexPoint Residential Trust Company 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.