Raymond James Financial Inc. Cuts Stake in NexPoint Real Estate Finance, Inc. $NREF

Key Points

• Raymond James Financial Inc. has reduced its stake in NexPoint Real Estate Finance, Inc. by 10.4%, owning approximately 1.69% of the company worth $4.5 million after selling 34,511 shares.
• Several other hedge funds have increased their stakes in NexPoint, with notable increases from Wells Fargo & Company MN and Jane Street Group LLC.
• NexPoint Real Estate Finance has announced a quarterly dividend of $0.50 per share, which represents an annualized yield of 13.0%.

Raymond James Financial Inc. decreased its holdings in NexPoint Real Estate Finance, Inc. (NYSE:NREF - Free Report) by 10.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 297,411 shares of the company's stock after selling 34,511 shares during the quarter. Raymond James Financial Inc. owned 1.69% of NexPoint Real Estate Finance worth $4,547,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the stock. Wells Fargo & Company MN grew its stake in NexPoint Real Estate Finance by 27.8% during the 4th quarter. Wells Fargo & Company MN now owns 4,801 shares of the company's stock worth $75,000 after purchasing an additional 1,045 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in shares of NexPoint Real Estate Finance in the 4th quarter valued at about $186,000. HighTower Advisors LLC grew its position in shares of NexPoint Real Estate Finance by 20.7% during the first quarter. HighTower Advisors LLC now owns 22,615 shares of the company's stock worth $346,000 after buying an additional 3,871 shares in the last quarter. Barclays PLC increased its stake in shares of NexPoint Real Estate Finance by 7.4% during the fourth quarter. Barclays PLC now owns 23,345 shares of the company's stock worth $366,000 after buying an additional 1,615 shares during the period. Finally, Jane Street Group LLC raised its holdings in NexPoint Real Estate Finance by 101.9% in the fourth quarter. Jane Street Group LLC now owns 24,274 shares of the company's stock valued at $381,000 after acquiring an additional 12,251 shares in the last quarter. Hedge funds and other institutional investors own 67.79% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Piper Sandler set a $15.00 price objective on shares of NexPoint Real Estate Finance and gave the company a "neutral" rating in a research report on Monday, August 4th. Wall Street Zen upgraded NexPoint Real Estate Finance from a "sell" rating to a "hold" rating in a research note on Saturday, August 30th. Four research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $14.75.

NexPoint Real Estate Finance Stock Performance

NYSE:NREF traded up $0.18 during mid-day trading on Thursday, reaching $15.33. 4,441 shares of the stock were exchanged, compared to its average volume of 43,738. The stock has a market capitalization of $271.65 million, a P/E ratio of 6.37 and a beta of 1.28. NexPoint Real Estate Finance, Inc. has a 1 year low of $12.14 and a 1 year high of $18.09. The company has a 50 day simple moving average of $14.47 and a 200-day simple moving average of $14.64. The company has a quick ratio of 207.44, a current ratio of 207.44 and a debt-to-equity ratio of 1.58.

NexPoint Real Estate Finance Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 13.0%. The ex-dividend date of this dividend is Monday, September 15th. NexPoint Real Estate Finance's dividend payout ratio (DPR) is presently 82.99%.

NexPoint Real Estate Finance Company Profile

NexPoint Real Estate Finance, Inc operates as a commercial mortgage real estate investment trust in the United States. It focuses on originating, structuring, and investing in first-lien mortgage loans, mezzanine loans, preferred equity, convertible notes, multifamily properties, and common equity investments, as well as multifamily and single-family rental commercial mortgage-backed securities securitizations, multifamily structured credit risk notes, and mortgage-backed securities or target assets.