Allspring Global Investments Holdings LLC Grows Stock Position in NexPoint Residential Trust, Inc. (NYSE:NXRT)

Allspring Global Investments Holdings LLC raised its stake in shares of NexPoint Residential Trust, Inc. (NYSE:NXRT) by 31.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 9,933 shares of the financial services provider’s stock after buying an additional 2,351 shares during the period. Allspring Global Investments Holdings LLC’s holdings in NexPoint Residential Trust were worth $342,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of NXRT. Jump Financial LLC purchased a new position in shares of NexPoint Residential Trust during the 3rd quarter valued at about $241,000. Inspire Investing LLC purchased a new position in shares of NexPoint Residential Trust in the 3rd quarter valued at about $357,000. Nisa Investment Advisors LLC increased its stake in shares of NexPoint Residential Trust by 4.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 11,579 shares of the financial services provider’s stock valued at $373,000 after purchasing an additional 492 shares in the last quarter. SG Americas Securities LLC increased its stake in shares of NexPoint Residential Trust by 388.2% in the 3rd quarter. SG Americas Securities LLC now owns 12,786 shares of the financial services provider’s stock valued at $411,000 after purchasing an additional 10,167 shares in the last quarter. Finally, Quadrature Capital Ltd increased its stake in shares of NexPoint Residential Trust by 123.1% in the 3rd quarter. Quadrature Capital Ltd now owns 13,621 shares of the financial services provider’s stock valued at $438,000 after purchasing an additional 7,515 shares in the last quarter. Hedge funds and other institutional investors own 76.61% of the company’s stock.

NexPoint Residential Trust Trading Up 1.3 %

NXRT stock opened at $33.27 on Friday. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 3.16. NexPoint Residential Trust, Inc. has a 12-month low of $26.21 and a 12-month high of $49.87. The stock has a market cap of $857.37 million, a price-to-earnings ratio of 19.80, a PEG ratio of 1.01 and a beta of 1.28. The business’s 50-day moving average is $30.88 and its 200 day moving average is $31.33.

NexPoint Residential Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were issued a $0.462 dividend. This represents a $1.85 annualized dividend and a yield of 5.55%. The ex-dividend date was Thursday, March 14th. NexPoint Residential Trust’s payout ratio is 110.12%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Truist Financial cut their price target on NexPoint Residential Trust from $37.00 to $35.00 and set a “hold” rating for the company in a research note on Tuesday, April 9th. Raymond James lowered NexPoint Residential Trust from a “market perform” rating to an “underperform” rating in a research note on Monday, March 18th. Deutsche Bank Aktiengesellschaft assumed coverage on NexPoint Residential Trust in a research note on Tuesday, January 30th. They issued a “buy” rating and a $38.00 price target for the company. Finally, JMP Securities restated a “market outperform” rating and issued a $40.00 price target on shares of NexPoint Residential Trust in a research note on Wednesday, March 6th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $37.25.

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.