Meeder Asset Management Inc. Has $570,000 Stock Position in NexPoint Residential Trust, Inc. (NYSE:NXRT)

Key Points

• Meeder Asset Management Inc. significantly increased its stake in NexPoint Residential Trust, acquiring a total of 14,431 shares after boosting their position by 486.1% in the first quarter.
• Analysts have revised their outlook on NexPoint Residential Trust, with many recent reports issuing a "hold" rating and a decreased average price target of $43.58 per share.
• The company declared a quarterly dividend of $0.51, reflecting an annual yield of 6.08%, although its dividend payout ratio stands at -159.38%.

Meeder Asset Management Inc. raised its holdings in shares of NexPoint Residential Trust, Inc. (NYSE:NXRT - Free Report) by 486.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,431 shares of the financial services provider's stock after acquiring an additional 11,969 shares during the quarter. Meeder Asset Management Inc. owned approximately 0.06% of NexPoint Residential Trust worth $570,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in NXRT. Allianz Asset Management GmbH grew its stake in shares of NexPoint Residential Trust by 670.6% in the first quarter. Allianz Asset Management GmbH now owns 49,321 shares of the financial services provider's stock valued at $1,950,000 after buying an additional 42,921 shares in the last quarter. Foundry Partners LLC lifted its holdings in NexPoint Residential Trust by 1.4% during the 1st quarter. Foundry Partners LLC now owns 181,488 shares of the financial services provider's stock valued at $7,174,000 after purchasing an additional 2,453 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in NexPoint Residential Trust by 6.1% during the 1st quarter. Victory Capital Management Inc. now owns 22,500 shares of the financial services provider's stock valued at $889,000 after purchasing an additional 1,300 shares during the last quarter. Graybill Wealth Management LTD. acquired a new stake in NexPoint Residential Trust during the 1st quarter valued at $2,814,000. Finally, Principal Financial Group Inc. lifted its holdings in NexPoint Residential Trust by 2.7% during the 1st quarter. Principal Financial Group Inc. now owns 120,512 shares of the financial services provider's stock valued at $4,764,000 after purchasing an additional 3,207 shares during the last quarter. Institutional investors and hedge funds own 76.61% of the company's stock.

NexPoint Residential Trust Price Performance

NexPoint Residential Trust stock traded down $0.34 during midday trading on Friday, reaching $30.84. The company's stock had a trading volume of 256,275 shares, compared to its average volume of 165,532. NexPoint Residential Trust, Inc. has a 52 week low of $29.98 and a 52 week high of $48.37. The company has a current ratio of 1.89, a quick ratio of 2.65 and a debt-to-equity ratio of 4.22. The business has a 50-day moving average price of $33.71 and a 200-day moving average price of $36.61. The stock has a market cap of $782.10 million, a PE ratio of -15.73, a price-to-earnings-growth ratio of 1.83 and a beta of 1.04.

NexPoint Residential Trust (NYSE:NXRT - Get Free Report) last released its earnings results on Tuesday, July 29th. The financial services provider reported $0.80 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.81 by ($0.01). NexPoint Residential Trust had a negative net margin of 19.55% and a negative return on equity of 12.54%. The business had revenue of $63.10 million during the quarter, compared to the consensus estimate of $63.32 million. On average, sell-side analysts predict that NexPoint Residential Trust, Inc. will post 2.86 EPS for the current year.

NexPoint Residential Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 6.6%. The ex-dividend date is Monday, September 15th. NexPoint Residential Trust's payout ratio is -104.08%.

Wall Street Analyst Weigh In

NXRT has been the subject of several research reports. Citizens Jmp downgraded NexPoint Residential Trust from an "outperform" rating to a "market perform" rating in a report on Monday, May 19th. Truist Financial dropped their target price on NexPoint Residential Trust from $42.00 to $38.00 and set a "hold" rating for the company in a report on Thursday, May 29th. Compass Point reaffirmed a "neutral" rating and issued a $42.50 price target (down previously from $50.00) on shares of NexPoint Residential Trust in a research note on Tuesday, May 13th. JMP Securities reaffirmed a "market perform" rating on shares of NexPoint Residential Trust in a research note on Monday, May 19th. Finally, Raymond James Financial downgraded NexPoint Residential Trust from an "outperform" rating to a "market perform" rating in a research note on Thursday, May 15th. Eight analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $42.30.

Insider Buying and Selling at NexPoint Residential Trust

In other news, insider Paul Richards purchased 5,000 shares of NexPoint Residential Trust stock in a transaction dated Wednesday, June 25th. The shares were bought at an average cost of $32.92 per share, for a total transaction of $164,600.00. Following the completion of the acquisition, the insider owned 24,689 shares in the company, valued at approximately $812,761.88. This trade represents a 25.39% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 15.36% of the company's stock.

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.