Raymond James Financial Inc. Invests $575,000 in NexPoint Residential Trust, Inc. (NYSE:NXRT)

Raymond James Financial Inc. acquired a new stake in NexPoint Residential Trust, Inc. (NYSE:NXRT - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 13,773 shares of the financial services provider's stock, valued at approximately $575,000. Raymond James Financial Inc. owned about 0.05% of NexPoint Residential Trust as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Copeland Capital Management LLC increased its stake in NexPoint Residential Trust by 0.9% in the 4th quarter. Copeland Capital Management LLC now owns 909,758 shares of the financial services provider's stock valued at $37,982,000 after buying an additional 8,072 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of NexPoint Residential Trust by 1.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 338,512 shares of the financial services provider's stock worth $14,133,000 after acquiring an additional 5,832 shares during the last quarter. Bank of New York Mellon Corp raised its stake in NexPoint Residential Trust by 2.6% in the 4th quarter. Bank of New York Mellon Corp now owns 221,219 shares of the financial services provider's stock valued at $9,236,000 after acquiring an additional 5,618 shares during the period. Invesco Ltd. lifted its holdings in NexPoint Residential Trust by 4.2% during the 4th quarter. Invesco Ltd. now owns 201,540 shares of the financial services provider's stock valued at $8,414,000 after purchasing an additional 8,052 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in shares of NexPoint Residential Trust by 14.7% in the fourth quarter. Russell Investments Group Ltd. now owns 198,678 shares of the financial services provider's stock valued at $8,295,000 after purchasing an additional 25,441 shares during the last quarter. 76.61% of the stock is owned by institutional investors and hedge funds.

NexPoint Residential Trust Price Performance

NYSE:NXRT traded up $0.08 during trading hours on Friday, hitting $37.23. 100,848 shares of the company's stock traded hands, compared to its average volume of 131,948. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 3.25. The business's fifty day simple moving average is $37.54 and its two-hundred day simple moving average is $40.61. The firm has a market cap of $941.36 million, a P/E ratio of 21.27, a P/E/G ratio of 2.34 and a beta of 1.14. NexPoint Residential Trust, Inc. has a 52 week low of $30.98 and a 52 week high of $48.37.

NexPoint Residential Trust (NYSE:NXRT - Get Free Report) last issued its earnings results on Tuesday, April 29th. The financial services provider reported $0.84 EPS for the quarter, topping the consensus estimate of $0.78 by $0.06. NexPoint Residential Trust had a net margin of 17.54% and a return on equity of 9.54%. The company had revenue of $63.22 million for the quarter, compared to the consensus estimate of $63.29 million. On average, research analysts anticipate that NexPoint Residential Trust, Inc. will post 2.86 earnings per share for the current fiscal year.

NexPoint Residential Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be paid a dividend of $0.51 per share. The ex-dividend date is Monday, June 16th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 5.48%. NexPoint Residential Trust's dividend payout ratio is currently -159.37%.

Insiders Place Their Bets

In other NexPoint Residential Trust news, insider Paul Richards acquired 5,814 shares of the stock in a transaction on Monday, April 7th. The stock was acquired at an average price of $33.24 per share, for a total transaction of $193,257.36. Following the completion of the transaction, the insider now directly owns 18,493 shares of the company's stock, valued at $614,707.32. This trade represents a 45.86 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 15.36% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently commented on NXRT shares. Truist Financial lifted their target price on shares of NexPoint Residential Trust from $41.00 to $42.00 and gave the stock a "hold" rating in a report on Monday, March 10th. Jefferies Financial Group upped their target price on NexPoint Residential Trust from $41.00 to $43.00 and gave the company a "hold" rating in a research report on Monday, March 10th. StockNews.com cut NexPoint Residential Trust from a "hold" rating to a "sell" rating in a report on Saturday, March 1st. Finally, Raymond James reduced their price target on NexPoint Residential Trust from $50.00 to $44.00 and set an "outperform" rating for the company in a research note on Thursday, March 20th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $46.33.

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.