Great Lakes Advisors LLC Cuts Stock Position in NexPoint Residential Trust, Inc. (NYSE:NXRT)

Great Lakes Advisors LLC decreased its position in shares of NexPoint Residential Trust, Inc. (NYSE:NXRT) by 15.2% during the 2nd quarter, Holdings Channel.com reports. The fund owned 101,277 shares of the financial services provider’s stock after selling 18,181 shares during the period. Great Lakes Advisors LLC’s holdings in NexPoint Residential Trust were worth $4,606,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Yousif Capital Management LLC boosted its holdings in NexPoint Residential Trust by 0.6% in the first quarter. Yousif Capital Management LLC now owns 21,646 shares of the financial services provider’s stock valued at $1,955,000 after purchasing an additional 136 shares during the period. LPL Financial LLC increased its stake in shares of NexPoint Residential Trust by 4.0% during the second quarter. LPL Financial LLC now owns 4,521 shares of the financial services provider’s stock worth $283,000 after buying an additional 173 shares during the period. Great West Life Assurance Co. Can raised its holdings in NexPoint Residential Trust by 0.7% in the first quarter. Great West Life Assurance Co. Can now owns 37,735 shares of the financial services provider’s stock valued at $3,510,000 after acquiring an additional 274 shares in the last quarter. Engineers Gate Manager LP lifted its stake in NexPoint Residential Trust by 12.6% in the first quarter. Engineers Gate Manager LP now owns 2,759 shares of the financial services provider’s stock worth $249,000 after acquiring an additional 309 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. grew its holdings in NexPoint Residential Trust by 7.4% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 4,617 shares of the financial services provider’s stock worth $417,000 after acquiring an additional 320 shares in the last quarter. 78.31% of the stock is currently owned by hedge funds and other institutional investors.

NexPoint Residential Trust Stock Up 2.0 %

NXRT stock opened at $31.01 on Tuesday. The stock has a market cap of $796.03 million, a P/E ratio of 27.44, a PEG ratio of 1.29 and a beta of 1.20. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 3.12. NexPoint Residential Trust, Inc. has a twelve month low of $26.21 and a twelve month high of $52.83. The company’s 50 day moving average is $30.99 and its two-hundred day moving average is $38.15.

NexPoint Residential Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be paid a dividend of $0.462 per share. This is a positive change from NexPoint Residential Trust’s previous quarterly dividend of $0.42. This represents a $1.85 annualized dividend and a yield of 5.96%. The ex-dividend date of this dividend is Thursday, December 14th. NexPoint Residential Trust’s dividend payout ratio (DPR) is currently 148.67%.

Wall Street Analysts Forecast Growth

NXRT has been the topic of a number of analyst reports. StockNews.com upgraded shares of NexPoint Residential Trust from a “sell” rating to a “hold” rating in a report on Tuesday, November 14th. JMP Securities cut their price target on NexPoint Residential Trust from $70.00 to $55.00 and set a “market outperform” rating on the stock in a research note on Wednesday, July 26th. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $50.33.

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.