Meeder Asset Management Inc. Increases Stock Holdings in NexPoint Residential Trust, Inc. (NYSE:NXRT)

Meeder Asset Management Inc. grew its holdings in shares of NexPoint Residential Trust, Inc. (NYSE:NXRT) by 158.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,462 shares of the financial services provider’s stock after purchasing an additional 1,509 shares during the period. Meeder Asset Management Inc.’s holdings in NexPoint Residential Trust were worth $103,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Norges Bank purchased a new stake in NexPoint Residential Trust during the 4th quarter worth about $1,127,000. JPMorgan Chase & Co. raised its holdings in NexPoint Residential Trust by 27.3% in the fourth quarter. JPMorgan Chase & Co. now owns 149,020 shares of the financial services provider’s stock valued at $6,222,000 after acquiring an additional 31,930 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in NexPoint Residential Trust in the fourth quarter worth approximately $211,000. Sei Investments Co. lifted its stake in NexPoint Residential Trust by 1.8% in the fourth quarter. Sei Investments Co. now owns 34,982 shares of the financial services provider’s stock worth $1,461,000 after acquiring an additional 631 shares during the last quarter. Finally, Summit Global Investments increased its position in shares of NexPoint Residential Trust by 33.7% in the 4th quarter. Summit Global Investments now owns 12,966 shares of the financial services provider’s stock valued at $541,000 after purchasing an additional 3,269 shares during the last quarter. Institutional investors and hedge funds own 76.61% of the company’s stock.

Wall Street Analyst Weigh In

NXRT has been the topic of a number of analyst reports. Truist Financial raised their price target on NexPoint Residential Trust from $41.00 to $42.00 and gave the company a “hold” rating in a research note on Monday, March 10th. Raymond James lowered their price target on NexPoint Residential Trust from $50.00 to $44.00 and set an “outperform” rating for the company in a report on Thursday, March 20th. StockNews.com cut shares of NexPoint Residential Trust from a “hold” rating to a “sell” rating in a report on Saturday, March 1st. Finally, Jefferies Financial Group increased their target price on shares of NexPoint Residential Trust from $41.00 to $43.00 and gave the company a “hold” rating in a research report on Monday, March 10th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $46.33.

NexPoint Residential Trust Stock Performance

NYSE:NXRT opened at $40.44 on Wednesday. The company has a debt-to-equity ratio of 3.25, a current ratio of 1.79 and a quick ratio of 1.79. The firm has a market cap of $1.03 billion, a price-to-earnings ratio of 23.11, a price-to-earnings-growth ratio of 2.34 and a beta of 1.43. The firm’s fifty day moving average price is $39.63 and its 200 day moving average price is $42.18. NexPoint Residential Trust, Inc. has a 1-year low of $30.21 and a 1-year high of $48.37.

NexPoint Residential Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a dividend of $0.51 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 5.04%. NexPoint Residential Trust’s dividend payout ratio (DPR) is -20,400.00%.

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.