Russell Investments Group Ltd. trimmed its stake in NexPoint Residential Trust, Inc. (NYSE:NXRT – Get Rating) by 11.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 60,150 shares of the financial services provider’s stock after selling 7,749 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.23% of NexPoint Residential Trust worth $5,429,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NXRT. National Bank of Canada FI purchased a new position in NexPoint Residential Trust in the fourth quarter valued at about $25,000. Allspring Global Investments Holdings LLC bought a new stake in shares of NexPoint Residential Trust in the fourth quarter valued at approximately $1,536,000. Commonwealth Equity Services LLC raised its position in shares of NexPoint Residential Trust by 38.8% in the fourth quarter. Commonwealth Equity Services LLC now owns 7,633 shares of the financial services provider’s stock valued at $639,000 after purchasing an additional 2,135 shares during the period. Yousif Capital Management LLC bought a new stake in shares of NexPoint Residential Trust in the fourth quarter valued at approximately $1,803,000. Finally, DekaBank Deutsche Girozentrale bought a new stake in shares of NexPoint Residential Trust in the fourth quarter valued at approximately $377,000. 77.47% of the stock is currently owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In related news, President James D. Dondero purchased 17,050 shares of the business’s stock in a transaction on Thursday, June 16th. The stock was acquired at an average price of $59.01 per share, with a total value of $1,006,120.50. Following the purchase, the president now directly owns 2,033,188 shares in the company, valued at $119,978,423.88. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 12.69% of the company’s stock.
Analyst Ratings Changes
Several analysts have recently issued reports on the stock. Credit Suisse Group assumed coverage on shares of NexPoint Residential Trust in a research report on Wednesday, June 22nd. They issued an “outperform” rating and a $72.00 price target on the stock. Truist Financial decreased their target price on shares of NexPoint Residential Trust from $90.00 to $66.00 and set a “hold” rating on the stock in a report on Friday, June 24th. BTIG Research started coverage on shares of NexPoint Residential Trust in a report on Monday, May 9th. They set a “neutral” rating on the stock. Jefferies Financial Group decreased their target price on shares of NexPoint Residential Trust from $88.00 to $70.00 and set a “buy” rating on the stock in a report on Thursday, June 30th. Finally, Raymond James reaffirmed a “downgrade” rating on shares of NexPoint Residential Trust in a report on Thursday, August 4th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $80.83.
NexPoint Residential Trust Price Performance
NXRT stock opened at $62.01 on Wednesday. The company has a debt-to-equity ratio of 3.30, a current ratio of 2.18 and a quick ratio of 2.18. NexPoint Residential Trust, Inc. has a one year low of $57.49 and a one year high of $95.04. The stock has a market cap of $1.59 billion, a PE ratio of 76.56, a P/E/G ratio of 2.52 and a beta of 1.01. The firm has a 50 day simple moving average of $63.19 and a two-hundred day simple moving average of $76.10.
NexPoint Residential Trust Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Thursday, September 15th will be paid a $0.38 dividend. The ex-dividend date of this dividend is Wednesday, September 14th. This represents a $1.52 dividend on an annualized basis and a yield of 2.45%. NexPoint Residential Trust’s dividend payout ratio is presently 187.65%.
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.
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