State of New Jersey Common Pension Fund D grew its stake in shares of NexPoint Residential Trust, Inc. (NYSE:NXRT – Free Report) by 4.7% in the third quarter, HoldingsChannel.com reports. The firm owned 276,163 shares of the financial services provider’s stock after buying an additional 12,404 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in NexPoint Residential Trust were worth $8,887,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the stock. Tower Research Capital LLC TRC lifted its stake in NexPoint Residential Trust by 332.8% in the first quarter. Tower Research Capital LLC TRC now owns 844 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 649 shares during the period. Quantbot Technologies LP purchased a new stake in NexPoint Residential Trust in the second quarter worth $60,000. Acadian Asset Management LLC purchased a new stake in NexPoint Residential Trust in the first quarter worth $117,000. Captrust Financial Advisors purchased a new stake in NexPoint Residential Trust in the second quarter worth $131,000. Finally, PNC Financial Services Group Inc. lifted its stake in NexPoint Residential Trust by 65.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,198 shares of the financial services provider’s stock worth $96,000 after acquiring an additional 873 shares during the period. Hedge funds and other institutional investors own 78.31% of the company’s stock.
Analyst Ratings Changes
A number of research firms have issued reports on NXRT. Deutsche Bank Aktiengesellschaft began coverage on NexPoint Residential Trust in a report on Tuesday, January 30th. They issued a “buy” rating and a $38.00 price objective for the company. StockNews.com upgraded NexPoint Residential Trust from a “sell” rating to a “hold” rating in a report on Tuesday, November 14th. Truist Financial dropped their target price on NexPoint Residential Trust from $43.00 to $40.00 and set a “hold” rating on the stock in a research report on Monday, December 18th. Finally, Janney Montgomery Scott cut NexPoint Residential Trust from a “buy” rating to a “neutral” rating and set a $36.00 target price on the stock. in a research report on Wednesday, December 20th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $42.25.
NexPoint Residential Trust Stock Down 0.1 %
Shares of NXRT opened at $30.68 on Monday. The business’s 50 day moving average is $32.96 and its 200 day moving average is $33.27. The company has a market capitalization of $787.56 million, a PE ratio of 27.15, a price-to-earnings-growth ratio of 0.99 and a beta of 1.29. NexPoint Residential Trust, Inc. has a 12-month low of $26.21 and a 12-month high of $52.33. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 3.12.
Insiders Place Their Bets
In other NexPoint Residential Trust news, CFO Brian Mitts sold 5,000 shares of NexPoint Residential Trust stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $33.74, for a total value of $168,700.00. Following the sale, the chief financial officer now owns 62,883 shares of the company’s stock, valued at approximately $2,121,672.42. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 12.97% of the company’s stock.
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.
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