NexPoint Residential Trust, Inc. $NXRT Shares Sold by Peregrine Capital Management LLC

Peregrine Capital Management LLC trimmed its stake in shares of NexPoint Residential Trust, Inc. (NYSE:NXRT) by 30.5% in the second quarter, Holdings Channel reports. The fund owned 14,640 shares of the financial services provider’s stock after selling 6,424 shares during the period. Peregrine Capital Management LLC’s holdings in NexPoint Residential Trust were worth $488,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in NXRT. Allspring Global Investments Holdings LLC lifted its position in NexPoint Residential Trust by 53.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 12,041 shares of the financial services provider’s stock worth $488,000 after acquiring an additional 4,217 shares during the period. Teacher Retirement System of Texas lifted its position in NexPoint Residential Trust by 83.3% during the 1st quarter. Teacher Retirement System of Texas now owns 40,790 shares of the financial services provider’s stock worth $1,612,000 after acquiring an additional 18,541 shares during the period. Principal Financial Group Inc. lifted its position in NexPoint Residential Trust by 2.7% during the 1st quarter. Principal Financial Group Inc. now owns 120,512 shares of the financial services provider’s stock worth $4,764,000 after acquiring an additional 3,207 shares during the period. Graybill Wealth Management LTD. acquired a new stake in NexPoint Residential Trust during the 1st quarter worth approximately $2,814,000. Finally, Victory Capital Management Inc. lifted its holdings in shares of NexPoint Residential Trust by 6.1% in the 1st quarter. Victory Capital Management Inc. now owns 22,500 shares of the financial services provider’s stock valued at $889,000 after buying an additional 1,300 shares during the period. 76.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on NXRT. Zacks Research raised NexPoint Residential Trust from a “strong sell” rating to a “hold” rating in a report on Friday, October 10th. Weiss Ratings reissued a “sell (d)” rating on shares of NexPoint Residential Trust in a report on Wednesday, October 8th. Truist Financial reduced their price target on NexPoint Residential Trust from $38.00 to $34.00 and set a “hold” rating for the company in a report on Tuesday, August 12th. Finally, Wall Street Zen raised NexPoint Residential Trust from a “sell” rating to a “hold” rating in a report on Friday, October 3rd. Seven analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $40.88.

Insider Transactions at NexPoint Residential Trust

In related news, Director Brian Mitts sold 5,000 shares of NexPoint Residential Trust stock in a transaction on Friday, August 15th. The stock was sold at an average price of $30.92, for a total transaction of $154,600.00. Following the completion of the transaction, the director directly owned 65,900 shares of the company’s stock, valued at approximately $2,037,628. The trade was a 7.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 15.36% of the company’s stock.

NexPoint Residential Trust Stock Performance

Shares of NXRT stock opened at $31.23 on Wednesday. The stock has a fifty day moving average price of $32.41 and a 200 day moving average price of $33.65. The stock has a market cap of $791.99 million, a PE ratio of -15.93 and a beta of 1.08. NexPoint Residential Trust, Inc. has a 1 year low of $29.93 and a 1 year high of $48.31. The company has a debt-to-equity ratio of 4.22, a quick ratio of 1.89 and a current ratio of 1.89.

NexPoint Residential Trust (NYSE:NXRT) last issued its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.01). The firm had revenue of $63.10 million for the quarter, compared to analyst estimates of $63.32 million. NexPoint Residential Trust had a negative return on equity of 12.54% and a negative net margin of 19.55%. Sell-side analysts forecast that NexPoint Residential Trust, Inc. will post 2.86 earnings per share for the current fiscal year.

NexPoint Residential Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be issued a dividend of $0.53 per share. This is a boost from NexPoint Residential Trust’s previous quarterly dividend of $0.51. This represents a $2.12 annualized dividend and a yield of 6.8%. The ex-dividend date of this dividend is Monday, December 15th. NexPoint Residential Trust’s payout ratio is presently -104.08%.

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.