NexPoint Residential Trust, Inc. (NYSE:NXRT) Shares Sold by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury reduced its holdings in NexPoint Residential Trust, Inc. (NYSE:NXRT) by 5.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,167 shares of the financial services provider’s stock after selling 536 shares during the quarter. State of Tennessee Department of Treasury’s holdings in NexPoint Residential Trust were worth $424,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of NXRT. First Trust Advisors LP acquired a new stake in NexPoint Residential Trust in the fourth quarter valued at $2,590,000. Barclays PLC lifted its stake in shares of NexPoint Residential Trust by 80.3% in the fourth quarter. Barclays PLC now owns 120,467 shares of the financial services provider’s stock valued at $5,028,000 after purchasing an additional 53,636 shares during the period. Foundry Partners LLC grew its position in NexPoint Residential Trust by 24.3% during the fourth quarter. Foundry Partners LLC now owns 179,035 shares of the financial services provider’s stock worth $7,475,000 after buying an additional 34,956 shares during the period. JPMorgan Chase & Co. grew its position in NexPoint Residential Trust by 27.3% during the fourth quarter. JPMorgan Chase & Co. now owns 149,020 shares of the financial services provider’s stock worth $6,222,000 after buying an additional 31,930 shares during the period. Finally, Norges Bank purchased a new position in NexPoint Residential Trust in the fourth quarter valued at about $1,127,000. 76.61% of the stock is currently owned by hedge funds and other institutional investors.

NexPoint Residential Trust Stock Performance

Shares of NYSE NXRT opened at $38.66 on Monday. The company has a 50-day simple moving average of $37.95 and a 200-day simple moving average of $40.82. 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 company has a market cap of $987.02 million, a PE ratio of 22.09, a price-to-earnings-growth ratio of 2.34 and a beta of 1.14. NexPoint Residential Trust, Inc. has a 12 month low of $30.98 and a 12 month high of $48.37.

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

NexPoint Residential Trust Announces Dividend

The firm 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 $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 5.28%. The ex-dividend date is Monday, June 16th. NexPoint Residential Trust’s payout ratio is -159.37%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on NXRT shares. Truist Financial upped their price target on NexPoint Residential Trust from $41.00 to $42.00 and gave the stock a “hold” rating in a report on Monday, March 10th. Raymond James dropped their price target on NexPoint Residential Trust from $50.00 to $44.00 and set an “outperform” rating for the company in a research report on Thursday, March 20th. Jefferies Financial Group boosted their price objective on shares of NexPoint Residential Trust from $41.00 to $43.00 and gave the stock a “hold” rating in a research report on Monday, March 10th. Finally, StockNews.com downgraded shares of NexPoint Residential Trust from a “hold” rating to a “sell” rating in a report on Saturday, March 1st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $46.33.

Insider Buying and Selling at NexPoint Residential Trust

In related news, insider Paul Richards purchased 5,814 shares of the firm’s stock in a transaction on Monday, April 7th. The shares were bought at an average price of $33.24 per share, for a total transaction of $193,257.36. Following the acquisition, the insider now directly owns 18,493 shares in the company, valued at $614,707.32. This trade represents a 45.86 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this link. 15.36% of the stock is owned by company insiders.

NexPoint Residential Trust Company 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.