Meeder Asset Management Inc. Purchases 11,969 Shares of 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. increased its stake in NexPoint Residential Trust, Inc. (NYSE:NXRT - Free Report) by 486.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,431 shares of the financial services provider's stock after purchasing an additional 11,969 shares during the period. Meeder Asset Management Inc. owned 0.06% of NexPoint Residential Trust worth $570,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of NXRT. Nexpoint Asset Management L.P. grew its holdings in shares of NexPoint Residential Trust by 100.0% in the 4th quarter. Nexpoint Asset Management L.P. now owns 1,562,753 shares of the financial services provider's stock valued at $65,245,000 after buying an additional 781,266 shares during the period. Northern Trust Corp grew its holdings in shares of NexPoint Residential Trust by 18.6% in the 4th quarter. Northern Trust Corp now owns 435,981 shares of the financial services provider's stock valued at $18,202,000 after buying an additional 68,471 shares during the period. Deutsche Bank AG grew its holdings in shares of NexPoint Residential Trust by 2.6% in the 4th quarter. Deutsche Bank AG now owns 381,537 shares of the financial services provider's stock valued at $15,929,000 after buying an additional 9,754 shares during the period. Millennium Management LLC grew its holdings in shares of NexPoint Residential Trust by 194.3% in the 4th quarter. Millennium Management LLC now owns 284,292 shares of the financial services provider's stock valued at $11,869,000 after buying an additional 187,680 shares during the period. Finally, Invesco Ltd. grew its holdings in shares of NexPoint Residential Trust by 4.2% in the 4th quarter. Invesco Ltd. now owns 201,540 shares of the financial services provider's stock valued at $8,414,000 after buying an additional 8,052 shares during the period. Institutional investors own 76.61% of the company's stock.

Insider Activity at NexPoint Residential Trust

In other NexPoint Residential Trust news, insider Paul Richards bought 5,000 shares of the firm's stock in a transaction dated Wednesday, June 25th. The stock was bought at an average cost of $32.92 per share, with a total value of $164,600.00. Following the completion of the transaction, the insider directly owned 24,689 shares in the company, valued at approximately $812,761.88. The trade was a 25.39% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 15.36% of the stock is currently owned by insiders.

NexPoint Residential Trust Trading Down 1.1%

Shares of NXRT stock traded down $0.34 during trading hours on Friday, hitting $30.84. 256,275 shares of the company's stock traded hands, compared to its average volume of 165,532. The stock's 50 day simple moving average is $33.71 and its 200 day simple moving average is $36.63. The stock has a market cap of $782.10 million, a PE ratio of -15.73, a price-to-earnings-growth ratio of 1.85 and a beta of 1.04. NexPoint Residential Trust, Inc. has a 12 month low of $29.98 and a 12 month high of $48.37. The company has a quick ratio of 2.65, a current ratio of 1.89 and a debt-to-equity ratio of 4.22.

NexPoint Residential Trust (NYSE:NXRT - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The financial services provider reported $0.80 earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $63.10 million during the quarter, compared to the consensus estimate of $63.32 million. On average, sell-side analysts anticipate that NexPoint Residential Trust, Inc. will post 2.86 EPS for the current year.

NexPoint Residential Trust Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Citizens Jmp lowered shares of NexPoint Residential Trust from an "outperform" rating to a "market perform" rating in a report on Monday, May 19th. Truist Financial decreased their price target on shares of NexPoint Residential Trust from $42.00 to $38.00 and set a "hold" rating for the company in a report on Thursday, May 29th. Raymond James Financial lowered shares of NexPoint Residential Trust from an "outperform" rating to a "market perform" rating in a report on Thursday, May 15th. Compass Point reaffirmed a "neutral" rating and issued a $42.50 target price (down from $50.00) on shares of NexPoint Residential Trust in a research note on Tuesday, May 13th. Finally, JMP Securities restated a "market perform" rating on shares of NexPoint Residential Trust in a research note on Monday, May 19th. One analyst has rated the stock with a sell rating and seven have given a hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $43.58.

NexPoint Residential Trust 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.